The MySuki online grocery store is now available in 16 of the Philippines' 17 regions.
MySuki just announced that it has expanded to 16 of the Philippines' 17 regions. This makes it the largest online grocery platform in the country. This news comes soon after the company raised $1.6 million from the Fast Logistics Group and CVC Capital Partners in a seed round. The company is on track to reach P4B in Gross Merchandise Value (GMV) this year, which is the value of all the goods sold in a year.
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| The MySuki online grocery store is now available in 16 of the Philippines' 17 regions. |
MySuki was started in 2019, and it lets grocery stores in the provinces sell online to sari-sari stores. It is currently used by the well-known rural supermarket chains Prince of VisMin, Super 8 in Luzon, CitiMart in Batangas, Cheers in Isabela, Gaisano in Cebu and Cagayan De Oro, BudgetWise in Zamboanga, Red Camia in Tarlac, and more than twenty other regional grocery chains.
"We made MySuki so our neighborhood grocery store chains could stay competitive in omnichannel retail. Victor Javier, CEO, and founder of MySuki, says that if a local supermarket chain doesn't change, tough online competition, well-funded national chains, and forward-thinking local rivals will quickly eat it up, no matter how great the brand. Javier has built four other successful retail technology companies abroad in his home country. This makes him a "serial tech entrepreneur."
Getting technology to grocery store chains in rural areas
Most local grocery stores don't have the time, money, or organizational resources that the big national supermarket chains do to make their own e-commerce apps. The MySuki platform makes it easy for local grocery stores to start selling online.
MySuki gives grocery stores all the tools they need to succeed in the new retail environment. MySuki helps local grocery stores digitize every part of their online business, including taking online orders, and speeding up the picking, checking out, and delivery processes. Dashboards and reports that are important to management and operations can be accessed through the platform. It also works with the Point of Sale systems and loyalty programs of shops and has a built-in function for microfinancing.
The chain of Sari-Sari stores
The MySuki smartphone app is used by Sari-sari Stores to place repeat orders for essential items from their favorite local grocery stores. It was made simple and easy to use on purpose to work well in places with slow internet.
"Since they are the basis of the retail ecosystem in our country, we decided that the sari-sari store network would be one of the main parts of our business. Ivan Lanuza, a co-founder of MySuki, says that communities actually gather around these places. "Most Filipinos grew up with a favorite sari-sari store, so we've made it our mission to help these stores join the online revolution. What better way to do that than to take them to our favorite grocery stores in the area?" he asked. Lanuza was the Chief Information Officer at Puregold Price Club and the IT Director at Procter & Gamble before he joined MySuki.
The most recent estimate is that there are more than a million sari-sari shops all over the country and that 60% of fast-moving consumer goods pass through these shops every year.
Collaboration as a Strategy
MySuki thinks that the best thing to do as competition in the online grocery market heats up is to improve the infrastructure of local grocery stores.
CEO Javier says, "In the future, the platforms that can work together and partner will do well. In everything we do, we try to improve the value we give to grocery stores and sari-sari shops. We decide to work with them instead of against them. Even the investors we work with were chosen by hand. We chose logistics providers and retail industry leaders who could advise us on improving the local grocery market.
MySuki is backed by local investors like Chris Po of the Century Pacific Group and other retail industry leaders, as well as international investors like William Chiongbian II of Fast Logistics Group and Brice Cu of CVC Capital Partners from Korea and Singapore.
The MySuki app can be found in the Apple App Store, the Google Play Store, and the Huawei Gallery.