Business View Caribbean | March 2021

114 BUSINESS VIEW CARIBBEAN MARCH 2021 At the beginning of the COVID-19 pandemic, the government of Trinidad & Tobago closed all businesses that were not selling essential supplies. But items such as hand sanitizers, liquid soaps, and disinfectant sprays, baby diapers, and baby milk were always part of the offerings at Pennywise – that plus the fact that they had pharmacies inside eight of their ten locations meant they could open throughout the lockdown. While business did slow down a bit, the ability to sell essential goods kept them going. In 2020, Pennywise actually had some growth over the year before but it’s obvious that people are watching their spending, not just buying freely like they were. When it comes to technology, Pennywise is ready to embrace change. As Shivum explains, “In terms of the rate of growth over the past 30 years – starting from literally nothing – I think the generation before me (my father and his brothers) were running it more like a small family business. We still have those values dad can get more free time because he is the last remaining second generation brother that is still in the business.” With over 1500 employees on staff and a stellar reputation throughout Trinidad, it’s not surprising that anywhere you ask, people know the name Pennywise. Shivum emphasizes, “We try to supply whatever the customer wants, while also trying to help local businesses get a foot in the retail market. We import major name brand products from companies like P&G, Unilever, Johnson & Johnson, and high-end fragrances are now a huge part of our business. So we buy directly from distributors for Versace and Burberry, as well as a lot of local brands from Trinidad. The biggest is Sacha Cosmetics, we’ve been working with them a long time, but we also give new start-up companies that are manufacturing products in Trinidad a chance. As long as we see they have potential, we’ll keep their product on the shelves.”