Challenges Encountered by Selected Street Vendors in Poblacion, San Isidro, Nueva Ecija, Due to Inflation

Abstract

Many people start street vending as it is one of the simplest business forms. However, being a street vendor comes with many challenges, and with inflation's effects, more significant problems arise. In this study, the researchers aimed to determine how Poblacion's street vendors were affected by inflation, identify their difficulties, and learn how they handled them. This study used a phenomenological research approach to examine the challenges and problems street vendors face as an effect of inflation. The researchers used the purposive sampling technique to select eight respondents who passed the criteria. The primary instruments used in this study were interviews and audio recordings. Based on the data of the respondents, the majority of them are struggling with the loss of income due to the rise in prices. Others have stated that they also experienced the loss of customers and the inability to increase their pricing.

Additionally, to overcome the problems, they had to raise their prices to earn a profit and were budgeting their expenses to handle the effects of inflation. In conclusion, the street vendors faced a lot of difficulties, including loss of income when they struggled to cover their expenses, which forced them to tighten their budget, loss of customers as they increased the price of their products led them to lose more profit, and the inability to increase their pricing due to the fear of losing customers that minimized their profit. Most respondents said they had to raise their prices or budget their expenses to handle the effects of inflation. The results emphasized better pricing and marketing strategies for street vendors.