Despite the increasing social media content of businesses to market their products or services, Kantar Media Philippines stressed newspapers and radio will remain top sources of consumer information due to aging populations worldwide.

“If the population growth slows down, the battle for market share becomes more difficult because there are fewer consumers,” Kantar Media Philippines managing director Jay Bautista said Thursday in a meeting by the Philippine Association of National Advertisers in Bonifacio Global City, Taguig.

Based on a Kantar survey, he said 41 percent of Filipino consumers rely on newspapers and radio for accurate and “trustworthy” information.

“That’s one way we can engage deeper with our customers, increasing brand   growth five times over the long term and five times in all marketing strategies of the company,” Bautista said.

Socmed has its purpose

He said the continued use of traditional media is highly beneficial to automobile and financial firms.

“There’s a nuance that should be seen. However, the marketers also see the value of social media when customers prefer entertainment or further demonstration of innovations,” Bautista said.

His statements came after the Philippine Statistics Authority reported the country’s population grew slower by 1.63 percent in 2020 compared to 1.72 percent recorded from 2010 to 2015.

In 2023, registered births decreased   by 0.5 percent to 1,448,522 from 1,455,393 in the prior year.

Globally, the United Nations projects people aged 60 with accumulated wealth to make up 21 percent of the world population, expanding from 8 percent in 1950 and 10 percent in 2000.