The Financial Impact of COVID-19 Pandemic: Evidence to a Supermarket in the Philippines

• Author(s): Eliza Victoria N. Villanueva
• Paper ID: 1702948
• Page: 73-76
• Published Date: 27-10-2021
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 5 Issue 4 October-2021

Abstract

It is innate to a human being to think of ways to survive each day and, most notably, in times of peril. Due to necessities, people started to innovate and make things easy—the products made uncomplicated through the institution of groceries or supermarkets. According to history, a self-service store was first opened in America, wherein customers were free to roam among the goods and pick out goods they needed or that happened to catch their eye. The multi-department large grocery store in the United States has earned the title of the first supermarket. Supermarkets' rise has been introduced based on expansion from the "developed" world into the less developed world. In the Philippines, there were early established supermarkets, but no data can ascertain which was considered the first. One of the famous supermarkets was established in the 1990s but continuously growing throughout the years. It has labeled its supermarket to cater to the neighborhood sundry stores, known as "sari-sari stores." However, at the onset of 2020, the world has encountered another risk in the form of an unseen enemy. The author would like to seek the impact on the financial aspect of the Retail/Wholesale Industry due to the Coronavirus pandemic, particularly in the supermarkets located in the Philippines. The strong demand was stimulated by the panic-buying caused by the government's declaration of Enhanced Community Quarantine. Though the company's ROA and ROE were not that high, the company still resulted in a positive conclusion. Overall, the retail/wholesale industry was one of the industries affected by the pandemic. However, it was able to withstand the situation and innovate itself to better its customer service to the public.

Keywords

Maslow, Financial, Necessity, Pandemic, Supermarket

Citations

IRE Journals:
Eliza Victoria N. Villanueva "The Financial Impact of COVID-19 Pandemic: Evidence to a Supermarket in the Philippines" Iconic Research And Engineering Journals Volume 5 Issue 4 2021 Page 73-76

IEEE:
Eliza Victoria N. Villanueva "The Financial Impact of COVID-19 Pandemic: Evidence to a Supermarket in the Philippines" Iconic Research And Engineering Journals, 5(4)