MYSUKI GROCERY APP EXPANDS IN 16 REGIONS
ONLINE grocery platform MySuki said it now has the largest footprint in the Philippines, expanding operations in 16 of the 17 regions in the country.
In a statement sent to The Manila Times over the weekend, MySuki said several rural grocery brands and 20 other provincial grocery chains have used the platform to encourage local grocers to shop online.
These grocery brands include Prince of VisMin, Super 8 in Luzon, CitiMart of Batangas, Cheers of Isabela, Gaisano of Cebu and Cagayan de Oro, BudgetWise in Zamboanga and Red Camia of Tarlac.
“We built MySuki with the aim of keeping our local grocery chains competitive in the omnichannel retail landscape,” said Victor Javier, MySuki chief executive officer and founder.
“A local grocery chain, no matter how strong the brand, can quickly get eaten up by aggressive online competition, well-funded national chains and progressive local competitors if they don’t adapt,” added Javier.
MySuki added that the company is now on track to reach P4 billion in annualized gross merchandise value this year after its $1.6-million seed round led by the Fast Logistics Group and CVC Capital Partners.
The online grocery platform believes empowering the existing local grocer infrastructure is the “way to go” after competition in the online grocery space heats up.
“We decided that the sari-sari (variety) store network would be one of the cornerstones of our operations since they are the backbone of our country’s retail ecosystem,” explained MySuki co-founder Ivan Lanuza.
Lanuza noted that almost every Filipino grew up with at least one favorite sari-sari store.
The MySuki co-founder added that they have made it part of their mission to help these stores come onboard the online revolution.
“In the future, the platforms that know how to partner and collaborate are the ones that will thrive,” said Javier.