Megatrends in the Philippines

September 2024

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends, and insights as to how each trend has manifested in the Philippines.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Philippines report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Philippines report answers:

  • How is the consumer mindset in Philippines changing? In Philippines, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Philippines purchase decisions?
  • Where and how do consumers shop in Philippines?
  • What health-related activities do consumers in Philippines participate in?
  • What megatrends should I focus on in Philippines (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Businesses can harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends Framework
Faster paced lifestyles will make convenience among key priorities for tech-savvy Filipinos
Convenience
New ride hailing app PeekUp focuses on convenience, availability and fair pricing
Technological innovation helps to free up time for busy Filipinos
Long commute times make local transport a necessity
Being able to view and feel items remains crucial for older shoppers
Consumers enjoy the flexibility and choice of online shopping
Filipinos are looking for more convenient meal options
Digital living
Rakuten Viber partners with Share Treats to offer a unique online gifting experience
Filipinos’ use of digital technology exceeds global average in most areas
Consumers are paying more attention to data privacy
Gen Z is navigating the balance between maintaining anonymity and sharing data online
Filipinos rely more on personal recommendations than on brand messages
Consumers expect more face-to-face interactions in future
Diversity and inclusion
GCash highlights the financial challenges facing para-athletes
Filipinos have a strong community spirit
Most consumers feel their identity is embraced
Filipinos value trustworthy companies and brands
Experience more
Kalaro launches “e-sports super-app”, with opportunities for monetisation
Filipinos enjoy spending time with friends and family
Consumers prioritise safety and relaxation when on holiday
Younger consumers are keen on unique and virtual experiences
Personalisation
BPI and Personetics use AI-powered analytics to offer customers tailored financial advice
Young Filipinos are eager to promote their online persona
The desire for uniqueness and convenience is driving the personalisation trend
Premiumisation
Haier launches new range of high-tech appliances with smart features
Consumers are prepared to spend money to make their lives easier
Filipinos become more discerning as incomes rise
Consumers favour healthy ingredients and high-quality products
Pursuit of value
Hard discounter Dali Discount set for further expansion
Filipino shoppers are keen to get the best value for money
Consumer confidence is being hit by rising living costs
Repurposing movement grows in a bid to cut costs
Most consumers intend to save more money
Shopper reinvented
TikTok Shop Mall offers an authentic and high-quality shopping experience
Consumers place high importance on brand trust
In-store shopping is still preferred, despite e-commerce growth
Consumers are engaging more with brands via social media
Millennials are the most likely to interact with brands
Sustainable living
L’Oréal and Watsons launch joint green initiative in the Philippines
Filipinos have a growing sense of responsibility towards the environment
Recycling is a top priority
Filipinos are highly concerned about plastic and food waste management
Wellness
The Nutrifizz range of sugar-free, sparkling prebiotic drinks offers gut health benefits
Massage is the most common form of relaxation
Consumers take a greater interest in health supplements
Filipinos remain alert to personal safety post-pandemic
Leverage the power of megatrends to shape your strategy today
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