MerryMart Consumer Corp. (the “Company” or “MerryMart”) reports Revenues increasing +29.0% year-on-year to ₱3.71 Billion for the first six months ending June 30, 2023. Net Income up +24.8% to ₱40.24 Million for the first six months ending June 30, 2023.
Total Assets of the Company are up +36.67% year-on-year to ₱11.53 Billion as of June 30, 2023.
MerryMart Wholesale’s super App has shown exponential growth in sales month-on-month since it launched less than one year ago. To date, there are already close to 170,000 registered users and we believe that MM Wholesale is the future of wholesaling, with its state of the art fully integrated App giving customers live inventory of over 8,000 grocery products.
Majority of our customers are hard-working sari-sari store owners that are struggling to compete against highly capitalized retailers that are entering their neighborhoods. With little capital to upgrade their store fronts, they are losing their market share. As such MerryMart has recently launched the MM Wholesale Ka-Barangay Mini-Mart program that will enable them to transform their sari-sari stores into mini-marts.
“In addition to assisting them transform their sari-sari stores to become mini-marts, the program includes a financial literacy and other business educational courses so that the store owners can enhance their skills to better manage and operate their mini-marts which is expected to significantly increase their overall household income. Since July 2023, the KaBarangay Mini-Mart program is now processing more than 1,000 sari-sari store owners. We are truly fortunate that we are able to grow our business simultaneous to creating a meaningful positive social impact in the various communities we serve,” said MerryMart Chairman Edgar “Injap” Sia II.
MerryMart Group’s various formats are MerryMart Express, MerryMart Market, MerryMart Grocery, and MerryMart Wholesale. MerryMart’s subsidiary MM Consumer Technologies Corp. with MBOX Smart Lockers is the first in its consumer technology portfolio that is expected to add and complement to the ecosystem of the MerryMart Group.
MerryMart has set its Vision 2030 with the goal to generate ₱120 Billion in systemwide recurring consumer sales revenue.
