Pandemic reshapes Pinoys’ shopping behavior

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The pandemic has reshaped the spending habits of Filipinos, findings of the Shopperscope study of Kantar showed.

While local households still prioritize basic needs and utilities on their monthly expenses, they have realigned their expenditure in 2022 compared with 2018.

Covering 2,000 Filipino respondents, Kantar’s pilot study showed utilities, transportation and food, totalled 49 percent of the expenditure share of local homes in 2018, which increased to 57 percent in 2020 during the lockdowns before dipping to 46% in 2022 when Filipinos resumed their activities.

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Filipinos spent almost a third of their budget on fresh and packaged food in 2018; this went up to 37 percent at the height of the pandemic in 2020, and then it decreased to 31 percent this year.

In 2022, Filipinos made sure to allocate part of their monthly budget on healthcare, which covers hospitalization and consultation services, curative and maintenance medicines as well as vitamins and supplements for their family members, To de-stress, Filipinos also spent more for pet-care related expenses and alcohol and tobacco.

Kantar noted the pandemic increased insurance, savings and investments from otherwise less financially-savvy Filipinos due uncertainties in employment but this was short-lived with the resumption of pre-COVID activities and the rising cost of goods.

From an almost zero travel spend in 2020, Filipinos are again budgeting for vacations and other celebrations which resulted to a small increase in outdoor clothing and footwear purchases, same as they did in 2018.

Beauty products took a back seat because of the pandemic but in 2022, pockets of growth are opening opportunities for beauty and personal care brands. – Irma Isip

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