Rapid urbanisation, a solid middle class, and evolving family structures shape the Philippines' consumer landscape. Economic challenges such as inflation and income disparity persist, but consumer spending remains amidst digital connectivity and urban living. Environmental awareness is growing as consumers prioritise sustainable choices. Key lifestyle shifts include flexible work models, enhanced home technology adoption, and a heightened focus on health and wellness.
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Overview:
Consumer Profiles reports provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.
The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.
The Consumer Profiles in Philippines report includes:
A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies
The Consumer Profiles in Philippines report answers:
- How consumers in Philippines are changing?
- What are key changes in Philippines population, society and generational structure and how it is affecting businesses?
- What is the household structure in Philippines and how it is changing consumer landscape?
• What are key income groups in Philippines? What is the outlook for the future?
• Where consumers are spending the money in Philippines?
• How is the consumer mindset in Philippines changing?
• In Philippines, what are consumer attitudes towards “green” and sustainable products?
• Where and how do consumers shop in Philippines?
Scope
Key findings
Key drivers affecting consumers in the Philippines in 2023
How developments today shape the consumers of tomorrow
Today 2023: Manila dominates as the most populous city in the Philippines
Generation Z leads a youthful demographic profile in the Philippines
Rising obesity and health risks drive consumer focus on wellness in the Philippines
Tomorrow 2040: Gen Alpha emerges as the largest cohort amidst ageing population
Slowing growth shifts demographic focus to younger generations
Urbanisation accelerates, boosting workforce in key Philippine cities
Opportunities for growth
Case study: Pickup Coffee’s expansion and mobile app launch
Today 2023: Households with children dominate as single person households grow rapidly
Shift towards smaller family sizes as single person households grow
Safety and air quality top home preferences amid rising housing costs
Tomorrow 2040: In contrast to the global trend, c ouples with children will thrive
Ageing and male-dominant household heads define future demographics
Digital connectivity and personal computer possession to surge by 2040
Opportunities for growth
Case study: MySolutions brings Orvibo smart home products to the Philippines
Today 2023: Middle class expands to nearly 29% as income inequality remains high
Inflation drives up costs of essential goods, prompting spending cuts in the Philippines
Generation X leads spending increase, prioritising health and wellness
Tomorrow 2040: Disposable income growth and minor improvements in equality
Youth income growth accelerates as high earners shape luxury consumption
Rising consumer expenditure led by leisure and Manila’s dominance in 2040
Opportunities for growth
Case study: Jollibee introduces new value meals to address economic constraints
Key findings of consumer survey
Older generations prioritise value for money and health properties in spending preferences
Rising costs drive Filipino consumers to prioritise bargains and quality
Environmental concerns drive consumer values especially among Baby Boomers
Limited financial security concerns drive cautious spending among Filipinos
High salary top priority for all generations except for Baby Boomers
Opportunities for growth
Case study: IWG’s expansion of flexible workspaces
Key takeaways
Buy Consumer Profiles reports to:
Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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