Marketing data and analytics company Kantar said Filipinos are coming out of the pandemic more value-conscious than ever, influenced largely by inflation.
Kantar’s latest data about the fast moving consumer goods (FMCG) industry showed private labels, beauty products, pet care, sustainability are among trends shaping Filipinos’ shopping behavior.
“Filipinos are becoming more critical of their brand choices, especially this year, as their decisions are expected to be influenced largely by the level of inflation we will face. However, FMCG purchases will remain a priority for shoppers,” said Marie-Anne Lezoraine, managing director of Worldpanel Division, Kantar Philippines.
To cope with higher prices while purchasing what they need for their post-pandemic lifestyle, shoppers are leveraging a range of tactics, including changing their product mix, Lezoraine said.
Kantar said more homes are also considering private labels or products sold under a retailer’s own brand. This increase is even seen in private label staples such as bread and vinegar, among others.
According to Kantar, Filipinos are expanding their repertoire of categories, including those they had deprioritized during the pandemic such as beauty products although they have become more discerning of what personal products they buy.
Kantar also observed pet care products have become important in Filipinos’ shopping basket. In 2022, almost 10 percent of households purchased pet food, a significant increase compared to pre-pandemic figures.
“Inflation may be inevitable, but historical data on consumer behavior tells us that brands can still grow during precarious times. With a better understanding of the trends surrounding consumers and their FMCG choices, brands will be able to make more focused decisions for pricing, packaging and promotions to better serve Filipinos,” Lezoraine said.
