By Raphaela Ann Manalo, UPLB Intern
The effect of the pandemic has significantly hit the Philippine economy. With this, several enterprises have to shut down due to lockdowns and community quarantines. Thankfully, the ease of restrictions a year into the pandemic has helped the country and its economy stand once again.
Lazada and Shopee’s importance in the growth of GlowCorp became clearly important during the pandemic. These digital platforms provided GlowCorp with alternative markets since physical stores only allow a limited number of shoppers in their outlets. With this, GlowCorp recorded a 304% increase in its online sales from the 2020 figure. In 2020, sales from digital platforms Lazada and Shopee contributed 0.2% to the company’s total revenue and in 2021, it already exceeded to more than 2%. Sales from Lazada grew 323% while Shopee sales grew 1,550%.
From a net revenue of Php88.7M in 2020, it increased by 6.5% to Php94.5M in 2021 due to the significant growth in the number of stores from 615 to 882 outlets. Before the pandemic, GlowCorp’s highest growth within 10 years was in 2019 with 26.25%. However, the effects of the pandemic have reflected on the company’s growth as it slowed down in 2020 with a 5.56% growth. A year into the pandemic, GlowCorp has slightly recovered with a 6.5% increase in growth. In 2021, GlowCorp recorded net sales of Php94.5M with a gross income of Php29.8M. Net income was also recorded at Php2.7M.
Organic rice, muscovado, cocosugar, and adlai are the bread and butter of GlowCorp. These commodities generated Php93M or 98% of the company’s total revenue. Organic rice and muscovado both contributed 38% of the company’s total revenue with Php37M and Php36M in sales, respectively. Meanwhile, cocosugar shared 13% of the total revenue followed by adlai with 6%. The remaining commodities (gourmet tuyo and tinapa, calamansi concentrate, banana chips, turmeric, and salabat powder, and roasted cashew) contributed 5% to the company’s total revenue.
Adlai continues to become GlowCorp’s best seller. GlowCorp only started in October 2020 and with more than one year and 9 months in the industry, GlowCorp beat online pioneers in selling adlai on online platforms such as Lazada. It already sold more than 4,500 packs in 1kg packaging of adlai, a significant quantity compared to its nearest competitor with more than 3,000 packs sold. “The increased awareness of online consumers about adlai, plus the very competitive price of our Prime Organics Adlai are the primary reasons why our adlai is being sought after in the digital markets. Of course, we make sure that our customers are happy and satisfied by providing them the best adlai”, Joeramie Balintongog enthused. Joeramie or Gigi is in-charge of GlowCorp’s Lazada and Shopee stores. She further said that by increasing the presence of adlai in Lazada and Shopee, GlowCorp could sustainably provide upland farmers from North Cotabato, Misamis Oriental, and the Indigenous Communities of Bukidnon access to better markets. Aside from adlai, sales of tablea and organic rice are picking up.
The continuing presence of GlowCorp in more than 850 outlets nationwide and digital platforms has provided at least 6,500 farming households access to better markets. More than Php400M worth of organic and processed products have been purchased from these farmers since 2010.