REVIEW OF RELATED LITERATURE AND STUDIES

This chapter presents the related literature and studies

concerning the topic of the study for better comprehension as

well as the relevance of the surveyed literature and studies to

the present study of the research to fully understand the topic.

The researcher has gone through intensive readings of materials,

both printed and downloaded through internet which has a great

significance to problem during the course of thesis writing.

LOCAL STUDY

The COVID-19 pandemic has put the world on a confused state

and the economic functions have collapsed says “The World

Bank”(The World Bank,2020).Business units are working extra

creative to reframe their strategies to recover back to

normality(Accenture,2020).This has resulted in a supply shock and

demand shock (Blair Sheppard,Daria Zarubina ,2020).Right from the

basic day to day grocery items to the posh expensive

spending,every single activity has been disrupted due to COVID-19

causing damage for the consumers and the business units.

(Rahmanan,2020).More than the present situation the aftermath

will be a real competitive edge for the business units across the

globe(PWC Global,2020).In the post-COVID-19,survival there is

need to be more agile and responsible giving importance to three

important elements(Re-think,Re-plan and Revamp)which should be

the core elements to strategize and scale business success in the

post-COVID-19 pandemic(Hasanat et al.,2020,(Rao and

Moorthy,2020). The adverse effect of community quarantine imposed

by National and Local Government Units to contain the spread of

COVID-19 have started to emerge as early as the week that the

quarantine started. Although Sari-Sari store were supposedly

exempted from total lockdowns,the micro retail sectors emerge to

be among the most affected in the situation,requiring a

rehabilitation plan that should include a range of intervention

measures to help them get back on their feet (Manila Bulletin,

2020).The COVID-19 outbreak is likely to cause bankcruptcy for

many well-known brands in many industries as consumers stay at

home and economies are shut down(Tucker,202000). When the whole

island of Luzon was placed on lockdown starting mid-March,

several establishments shut down their operations. Before the

lockdown, many suppliers used to deliver bread, medicine, and

cigarettes to her sari-sari store, but the lockdown has made it

difficult for these suppliers to deliver their goods (AL

Lumasag,2020). As a Sari-Sari store owner,you should not run out

of inventory.You will easily lose customers this way.In fact,when

you start your business,your small capital would be allocated foe

initial inventory and working capital for at least three

months.This is also why you should make a market study.By having

an idea of what items are in demand,you would have an idea on

what to stock up on and the par stocklevels (Roel Manarang,2019).

According to Hudson (2017), it is tough to successfully sell to a

customer if sellers cannot show product that will answer his

needs. The business aims to as much possible products to

customers but it cannot sell anything it wants to sell. Sell

something that is worth spending customer’s money. Thus, that

makes it important to understand the customer’s needs (Sutevski,

2017). The storekeeper must be well-informed about the products

she is selling, must understand the business and be approachable

with customers (Finn, 2017). Many of the sari-sari store owners

don’t use signs and symbols and other form of advertisement that

may help the increase of customers who will possibly buy from

their stores. When it comes to advertisement, many of them don’t

practice it.Taking care of customers is a silent marketing

strategy that businessmen fail to recognize.Communication

skill,relationship skills,and cultural sensitivity are the best

skills under social aspect.In terms of personal trait ,the

category involves hard work and self-motivation(Mamabolo et

al.,2017).