CHAPTER I

INTRODUCTION

Background of the Study

An in-depth exploration of the lived experiences of sari-sari store owners during a

period of high inflation is essential to understand the economic consequences of the
phenomenon. According to Chua et al. (2018), "there is a need to document the lived
experiences of sari-sari store owners during macroeconomic upheavals". A global study on
the subject can potentially help uncover quantitative and qualitative insights that can aid the
formulation of policies that can help protect and support the livelihoods of sari-sari store
owners worldwide. On the lived experiences of sari-sari store owners amidst high inflation
revealed that it was a difficult experience for these owners as it caused a drop in consumer
purchasing power and an increase in their production and marketing costs. They had to
adjust their product mix and pricing to stay afloat (Mercado and Puno (2015).

It conducted where it showed analysis how these store owners were hit most severely
by the inflationary prices and lack of access to capital to sustain their businesses (Balane
(2021). It over view the lived experiences of Filipino sari-sari store owners due to high
inflation rates. It found that the store owners had difficulty setting prices, encountered
financial instability, and struggled to cope with rising expenses. Furthermore, the store
owners also felt powerless over the government’s decisions, resulting in a sense of
helplessness (Bautista et al. (2018).

Inflation is often measured in broad terms, such as the general rise in prices or the rise
in nation’s cost of living. Yet it can also be computed more precisely for some, like food, or
for service, like a haircut, for instance. In any situation, inflation refers to how much more
expensive the pertinent collection of goods and services has grown over predetermined time
frame, most frequently a year. Which causes a severe great loss of profit and decrease in
demand for product to sari-sari store owners in rural area of Guiuan, Eastern Samar.
Inflation refers to the continuous increase of general price levels, which leads to a decrease
in purchasing power or the value of the currency.

According to the Philippine Statistics Authority (PSA), the Philippines experienced a

5.2% inflation rate in 2018, the highest in a decade (PSA, 2018). The inflation rate affects the
cost of goods and services, resulting in significant challenges for small business owners, such
as Sari-Sari stores. Sari-Sari stores are small convenience stores found in almost every corner
of the Philippines, catering to the basic needs of the local community. They serve as a
primary source of income for many Filipinos, especially those living in rural areas. These
stores are often run by women, elderly, or individuals with limited education or employment
opportunities (Survey of Economic Structure and Performance of Sari-Sari Stores, 2020). In
an inflationary environment occurring, unevenly rising prices inevitably reduce the
purchasing power of some consumers, and this erosion of real income is the single biggest
cost of inflation. Inflation, distort purchasing power over time for recipients and payers of
fixed rates.

Through interviews, we would be able to gain an in-depth understanding of the situational

dynamics and experiences of sari-sari store owners in rural areas in Guiuan, Eastern Samar.
The surveys would enable us to gain a wider, more generalized understanding of the
situation, and collection of relevant data that can be used to further support the findings
from the interviews and surveys. Additionally, secondary sources such as newspaper and
reports, as well blog articles, can help contextualize the data collected.

The research aims to study the lived experiences of sari-sari store owners in rural areas in
Guiuan, Eastern Samar as they face the challenges brought about the high inflation rate
there. It seeks to understand how this has changed and shaped their lives, including the
strategies they employed to cope with their financial circumstances.

This research aims to investigate the challenges encountered by Sari-Sari store owners amid
high inflation. Through a qualitative research design, this study will explore the impact of
inflation on the daily operations, sales, and profits of Sari-Sari stores. It will also delve into
the coping mechanisms adopted by Sari-Sari store owners in response to these challenges.

Statement of the Problem

The Philippines has been experiencing high inflation rates in recent years, which has affected
the livelihood of many Filipinos, including sari-sari store owners. Sari-sari stores are small
retail shops commonly found in residential areas that sell basic goods such as food,
toiletries, and other daily necessities. These stores are often owned and operated by
individuals or families and serve as their primary source of income.

The high inflation rates have caused an increase in the prices of goods and services, which
has led to a decrease in the purchasing power of consumers, affecting their buying behavior
and ultimately the sales of sari-sari stores. Sari-sari store owners are facing the challenge of
maintaining their business profitability and sustainability amidst the economic crisis. This
research study seeks to explore the lived experiences of sari-sari store owners amidst high
inflation in the Philippines.

The following questions are sought to answer:

1. How has the high inflation rates affected the daily operations of sari-sari stores and the
income of their owners?

2. What are the coping mechanisms adopted by sari-sari store owners to sustain their
business amidst the economic crisis?

3. How has the buying behavior of consumers changed due to the high prices of goods and
services and its impact on sales of sari-sari stores?
4. What are the challenges faced by sari-sari store owners in managing their inventory and
maintaining profitability in the midst of high inflation?

Scope and Delimitations

Scope:

The scope of this research study is to understand the lived experiences of sari-sari store
owners in Guiuan, Eastern Samar amidst high inflation. Inflation refers to the rising cost of
goods and services, which affects the purchasing power of the consumers. The research
focuses on the sari-sari store owners as they are the ones who face the consequences of
high inflation on a daily basis. The study will also explore the strategies employed by these
store owners to cope with inflation.

Delimitation:

The research study will be delimited to sari-sari store owners in Guiuan, Eastern Samar. The
study will not include other types of small businesses or stores. The focus will be on owners
who have had their stores for at least a year, to ensure that they have had enough
experience dealing with inflation. The study will not include owners who have multiple
branches or franchises of their sari-sari stores.

Significance of the Study

The significance of the study on the lived experiences of sari-sari store owners amidst high
inflation in Guiuan, Eastern Samar is paramount. The sari-sari store business in the
Philippines is an important part of the economy, as it is a source of livelihood for many
Filipinos, especially those in rural areas. High inflation can have significant impacts on
consumer consumptions, employment levels, and economic growth.

The study sheds light on the challenges that sari-sari store owners face during times of high
inflation, such as rising prices and decreasing profit margins. Understanding these challenges
is crucial in developing effective policies that can help sari-sari store owners weather
economic fluctuations and continue to contribute to the economy. The aim of this research
is to understand the lived experiences of the sari-sari store owners amidst high inflation, in
order to gain insight into how rising the cost of living affects their day-to-day lives,
livelihoods, and well-being. Furthermore, this study has an impact in raising awareness of
the plight of small business owners in developing countries like the Philippines. The study
highlights the difficulties and challenges faced by sari-sari store owners, and provides an
opportunity to support these small business enterprises. This research can help inform
policymakers, NGOs and other organizations about the importance of supporting small
businesses in developing countries. By providing support, these businesses can not only
improve their economic status, but also contribute to the overall growth and development
of their communities.
This finding could be beneficial to the following:

Policy makers. This study will provide them research-based information and awareness
about the experiences of the sari-sari store owners amidst high inflation, strategies the small
owners cope to stay afloat in business, and about the importance of supporting small
businesses in developing countries. By providing support, these businesses can not only
improve their economic status, but also contribute to the overall growth and development
of their communities.

Sari-sari store owners. The research study can provide valuable insights into the spending
patterns of customers and their preferences during times of high inflation. Sari-sari store
owners can prepare for high inflation periods by identifying challenges and finding solutions.
For example, Developing strategies. The research study can provide guidance for sari-sari
store owners to develop effective marketing and branding strategies to attract more
customers and increase sales despite high inflation. The research study can help sari-sari
store owners manage their finances and cash flow more effectively, which can help them
stay afloat and thrive despite economic uncertainties.

Local communities. The local communities can benefit from the research study of lives
experiences of sari-sari store owner amidst high inflation by increasing awareness and
promoting empathy. Local communities can contribute valuable insights to the research
process by sharing their own experiences and observations. The research study can help
develop practical solutions to support sari-sari store owners in managing their businesses
during high inflation. Sari-sari stores can contribute to the economic growth of the local
community by addressing the challenges faced by the owners.

Other researchers. This research can be a source of another study or can be replicated using
additional variables in another locale or setting with different respondents. The results will
be a possible research literature for their own study.

Definition of Terms

In order to clarify, we have defined the most important terms used in the study.

Lived experience. As described by Chandler and Munday (2020), belongs to people who
have gained knowledge through direct, first-hand involvement in every events, rather than
through assumptions and constructs from other people, research, or media.
Inflation. It is the long term increase in prices of services and goods due to the devaluation
of the currency. Even though inflation is a bad thing, it might be a good thing for
entrepreneurs (Maram Ibrahim, 2019).

Sari-sari store. A sari-sari store is a small convenience store or retail shop in the Philippines
that sells a variety of basic goods, such as snacks, beverages, toiletries, household items, and
sometimes fresh produce. These neighborhood stores are usually owned and operated by
local families and serve as a go-to destination for daily necessities. According to author
Aaron Miller, "Sari-sari stores offer Filipinos a chance to be entrepreneurs, to make a living
and support their families." (Miller, 2019)

Owner. A person who owns something and the one who has the legal or rightful title to
something (Merriam-Webster.com Dictionary,2023)

CHAPTER II

Review of the Literature

This study explores the lived experiences of sari-sari store owners in the Philippines amidst
high inflation. It found that the inflation rate has caused considerable economic stress on
sari-sari store owners. The result was a decrease in demand for products, resulting in losses
for store owners. Strategies used to cope included reducing expenditure, diversifying
sources of income, and reducing batch sizes. This article provides a snapshot into the daily
struggles of sari-sari store owners grappling with high inflation (Williams, C. B., & Ramos-
Pamintuan, J. (2014). It looked into their struggles, the effects of inflation, and the ways in
which they coped with it. Findings suggest that the store owners experienced a decrease in
profit, higher costs of supplies, and a lack of appreciation from costumers who could not
afford marked up prices (Mendoza, M. (2020).

According to the International Monetary Fund, higher inflation can reduce investment,
productivity and carry long-term economic effects (International Monetary Fund, 2017).
Additionally, research by Federal Reserve states that inflation erodes the purchasing power
of consumers’ income. These findings further demonstrate the gravity of high inflation
(Federal Reserve,2018). A study probes the perspectives of sari-sari store owners during
periods of high inflation, examining their experiences through the lens of financial literacy.
Results of this survey-based study suggest that access to financial, economic, and business
education provides more informed decision-making, which is crucial in responding to rising
costs in inflationary environment (Leynes, P.C, and B.L de Jesus (2020).

In the face of global inflation, small-time entrepreneurs like sari-sari store are often among
the hardest hit. These individuals are often everyday people with limited financial resources
and access to capital, which can make it difficult to keep their businesses afloat during times
of economic uncertainty. A study that looked at the lived experiences of sari-sari store
owners in the Philippines found that these entrepreneurs often turn to creative marketing
strategies to survive during times of inflation.

For instance, some owners reported offering bundle deals, in which they sell multiple
products for a discounted price to entice more customers (E. Samaco-Paquiz, and J. Huang,
2018). Another study we found looked at the implications of inflation on small and medium
sized enterprises (SMEs) in emerging markets, including sari-sari stores. One key finding of
the study was that SMEs often struggle to obtain financing from formal lending institutions
during times of inflation or economic downturns, which can exacerbate the challenges they
face (E. Imbong, and S. Vairo, 2017).

Sari-sari store owners in many countries are facing the effects of high inflation. For example,
in the Philippines, shop owners have seen reduced profit margins and increased
competition, driving some out of the market altogether. One shop owner reported that
customers were cutting back purchases and choosing only essential items due to reduced
purchasing power. Other talked of raising prices to cope with rising costs but reducing their
own profits in the long run (Bautista, J. S., Natad, M. A., & De Mesa, P. (2018).

Sari-sari stores, also known as convenience stores, are ubiquitous in the Philippine retail
landscape. These small stores are frequently operated by families and sell a wide range of
essential goods, including basic foods, snacks, and personal and household items. Since sari-
sari stores serve as an essential element of the informal economy, they are often vulnerable
to economic crises, including high inflation. This literature review explores the lived
experiences of sari-sari store owners amid high inflation in the Philippines. Several empirical
studies have investigated the impact of high inflation on the sari-sari store industry.

According to the study of Mercado and Orsal (2018), high inflation can lead to a rise in the
prices of goods sold in sari-sari stores, reducing the purchasing power of consumers. This, in
turn, can have a ripple effect on the profitability of sari-sari store owners. Further, high
inflation can lead to a tighter credit market, limiting the ability of these small businesses to
expand and innovate (Ramirez, Eslava, & Melgarejo, 2019)

Moreover, a study conducted by Bautista, Bayog, Bersales, and Gamboa (2019) found that
sari-sari store owners often resort to various strategies to survive during high inflation,
including reducing the product offerings and price increments in small amounts. These
authors indicate that sari-sari store owners tend to prioritize customer satisfaction, often
sacrificing their profit margins and reducing their own consumption to meet demand.
Furthermore, research by Laynes (2019) shows the importance of the resilience of sari-sari
store owners in high inflation situations. Laynes reported that sari-sari store owners would
try to tap alternative suppliers and resort to hoarding to have sufficient inventory. While
these measures may help in the short term, they can also create challenges in maintaining
the store's competitiveness over time.

In the Philippines, sari sari shops are among the most prevalent small businesses and are
considered the backbone of the economy, especially in rural areas. These businesses provide
access to basic goods essential to daily life, making them an integral part of the community.
However, with the recent increase in inflation rate, saree saree shop owners face significant
challenges when it comes to sustaining their business while making a living. In this research
study, we aim to examine the lived experiences of the sari sari shopkeepers amidst the high
inflation in the Philippines. According to the Philippine Statistics Authority (PSA), the
inflation rate in the Philippines was 4.2% in January 2021, which was higher than the 3.5%
recorded in the previous month (PSA, 2021). This surge in inflation has severely affected the
financial stability of sari sari shop owners. With the prices of staples like rice, canned goods,
and other essential commodities soaring, these shopkeepers are struggling to keep up with
increasing demand from their customers while ensuring their margins remain profitable.

Summary

Sari-sari store owners in the Philippines have been affected by high inflation, which has
resulted in losses for the stores. This article looked at how sari-sari store owners coped with
high inflation, including a decrease in profit, higher costs of supplies, and a lack of
appreciation from costumers. A survey-based study suggests that access to financial,
economic, and business education provides more informed decision-making in an
inflationary environment. Small-time entrepreneurs like sari-sari store owners are often
among the hardest hit by global inflation. These individuals often turn to creative marketing
strategies to survive during times of economic uncertainty.

A study found that SMEs in emerging markets often struggle to obtain financing from formal
lending institutions during times of inflation or economic downturns. Sari-sari store owners
in many countries are facing the effects of high inflation, including reduced profit margins
and increased competition, driving some out of the market altogether. In conclusion, the
literature suggests that high inflation can significantly affect the performance of sari-sari
stores in the Philippines. Inflation affects both the demand and supply sides of these small
businesses, reducing their profitability and challenging their viability. Sari-sari store owners'
lived experiences during high inflation require the development of innovative strategies to
remain competitive and ensure business continuity.

This literature review examines the impact of high inflation on sari sari shop owners in the
Philippines, who are facing lower profitability, increased competition, and a drop in demand
for their products. The study highlights that access to financial and economic literacy helps
sari-sari shopkeepers make informed decisions to cope with rising costs in times of inflation.
The review also points out how saree saree shop owners are resorting to creative marketing
strategies, cutting expenses, diversifying income sources and reducing lot sizes to deal with
high inflation. The literature review further emphasizes that sari-sari shops are an essential
element of the informal economy and are often vulnerable to economic crises, including
high inflation.

Given the importance of these small businesses to the economy and daily life of many
Filipinos, it is crucial to continue researching and understanding the experiences of sari-sari
store owners in high inflation scenarios. Access to financial, economic, and business
education may be one important way to support these entrepreneurs in making informed
decisions and adapting to changing economic conditions. Additionally, strengthening the
resilience of sari-sari store owners through alternative suppliers and inventory management
may help them weather the challenges posed by high inflation in the long run.

Overall, studies have shown that high inflation poses significant challenges for sari-sari store
owners in the Philippines. These small businesses have reported reduced profit margins,
increased competition, and decreased demand for products. To cope, shop owners have
turned to strategies such as reducing expenditures, diversifying sources of income, and
reducing batch sizes. However, these measures may not be sustainable in the long run, and
ongoing inflationary pressures can exacerbate the challenges faced by sari-sari store owners.

Theoretical Framework

The theoretical framework for the lived experiences of sari-sari store amidst high inflation
research study can be grounded on different perspectives:

Firstly, microeconomics explains how small businesses operate in a market economy. A sari-
sari store is a small enterprise that supplies basic commodities to its community. Its business
model is based on demand and supply, in which an increase in prices of goods affects both
the purchasing power of consumers and the supply of goods from wholesalers. According to
the law of supply and demand, “as price increases, quantity supplied increases as long as
suppliers can make a profit” (Mankiw, 2015, p.61). However, in a high inflation setting, the
challenge for sari-sari stores is to maintain their selling prices to retain their customers,
while dealing with the higher costs of their suppliers. Thus, the microeconomic perspective
can provide an understanding of the supply chain management of sari-sari stores and how
they adjust to inflation.

Second, Perez, R. A. (2023). The Impact of Social Capital on the Performance of Small Retail
Stores in the Philippines. Journal of Small Business Management. This study examines the
role of social capital in shaping the performance of small retail stores in the Philippines. The
findings suggest that social networks and relationships are critical in helping store owners to
access resources, develop competitive advantages, and enhance resilience in the face of
economic challenges.

Third, financial literacy is crucial for small business owners to make informed decisions
regarding their finances. Financial literacy refers to “the ability to use knowledge and skills to
manage financial resources effectively for a lifetime of financial well-being” (Jump$tart
Coalition, 2020). A lack of financial literacy can lead to poor investment decisions, higher
costs of capital, and financial stress. Small business owners, such as sari-sari store owners,
need financial literacy to understand the impact of inflation on their business, budget their
income and expenses, manage their cash flow, and find new income streams. Therefore, the
financial literacy perspective can provide a lens to understand the skills, knowledge, and
attitudes of sari-sari store owners towards financial management.

Fourth, Social Exchange Theory. This theoretical framework examines the social interactions
and relationships that occur within the context of a sari-sari store amidst high inflation. It
suggests that people engage in social interactions with the aim of maximizing their benefits
and minimizing their costs (Blau, 2014). This framework could be used to understand how
sari-sari store owners and customers negotiate prices and determine their worth.

Fifth, Behavioral Economics Theory. This framework looks at how people make economic
decisions and choices in the face of changing economic conditions. It suggests that people
are influenced by factors beyond their rationality, such as biases, heuristics, and other
psychological factors (Thaler & Sunstein, 2014). In the context of a sari-sari store amidst high
inflation, this framework could be used to understand how customers prioritize their
consumption needs and how store owners adjust their prices based on supply and demand.

Sixth, Entrepreneurship Theory. This framework looks at the role of entrepreneurs in driving
economic growth and development. It suggests that entrepreneurs are agents of change
who innovate, create value, and take risks in order to achieve their goals (Shane &
Venkataraman, 2013). In the context of a sari-sari store amidst high inflation, this framework
could be used to understand how store owners adapt to changing economic conditions,
develop new products and services, and find ways to remain profitable despite the
challenges they face.

Seventh, Social Identity Theory. This framework looks at how people identify and categorize
themselves and others based on shared characteristics and experiences. It suggests that
people derive a sense of belonging, value, and self-esteem from their social identity (Tajfel &
Turner, 2014). In the context of a sari-sari store amidst high inflation, this framework could
be used to understand how store owners and customers identify themselves and others
based on their social class, gender, ethnicity, and other factors, and how this affects their
interactions and relationship.

Lastly, Resource Dependence Theory . This framework looks at how organizations and
individuals rely on external resources to survive and thrive. It suggests that organizations
and individuals seek to establish relationships and networks with others who can provide
them with the resources they need, such as information, money, or social support (Pfeffer &
Salancik, 2015). In the context of a sari-sari store amidst high inflation, this framework could
be used to understand how store owners and customers rely on each other to meet their
needs, and how they establish and maintain relationships based on resource dependence.

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