As the pandemic wanes, shopping habit of Filipinos, hampered in the past two years due to lockdowns and tough mobility restrictions, is expected to stage a robust comeback this year, the world’s leading data, insights and consulting company, Kantar disclosed in a recent study.
Kantar noted the return of Filipino shoppers are now evident that would help aid the recovery of the Fast-Moving Consumer Goods (FMCG) industry in 2022.
Google Mobility data showed that in 2020, the shopping behavior of Filipinos followed the degree of mobility set by the government to curb the spread of the coronavirus.
This means that households shopped less at the height of the enhanced community quarantine but in 2021, the correlation was not present, as Filipinos went out to shop more frequently despite the health restrictions indicating that people adapted to the pandemic.
Lourdes Deocareza-Lozano, New Business Director at the Worldpanel Division of Kantar Philippines, disclosed that with the positive development, the country can expect some degree of recovery in terms of shopping frequency.
Further improvements seen
Under the least restrictive Alert Level 1 and with the holding of national elections next month, consumer spending is expected to rise in many areas of the country.
“The year 2022 will see brands, especially in the FMCG industry, become cautiously optimistic about their growth prospects,” Deocareza-Lozano added.
“FMCG companies must be able to assess and understand the changing behaviors of Filipinos in order to attract them to choose their products and buy them as frequently as possible,” she noted.
The study done by Kantar elucidated that a factor for growth is ensuring that commodity brands attract more buyers.
As such, the company has identified five key opportunities that FMCG companies must take note of to accelerate their plans for recovery which include value for money, new channel missions, the rise of e-commerce, the return of students in schools, and sustainability of the improved health situation.
Kantar reiterated that FMCG companies must look at these five shopping trends when developing marketing strategies that can further expand their reach to Filipino shoppers.
“It is equally important to be agile in these ever-changing times. We can only do so if we continuously monitor how our shoppers are behaving. Having the right insights and tools will allow our FMCG brands to plan and simulate scenarios for their growth. With that in mind, we will be able to capture and optimize this momentum of recovery happening before us,” Deocareza-Lozano averred.