The beginning of the pandemic in 2020 saw people watching more television, especially as people turned towards it for news about COVID-19. However, with lockdowns and stay-at-home measures extended into 2021, it was streaming consumption that maintained this uplift.
Advancements in technology can sometimes render an existing product obsolete. While video players are still present in the Philippines, they have experienced marked decline.
The pandemic has continued to influence consumer behaviour in the Philippines and most households remain cautious with their spending. Filipinos have consistently tried to manage their budgets by cutting out unnecessary expenditure, which means that, in some categories, consumers prioritise value for money over brand loyalty.
Flagship television models are expensive but there are many affordable smart televisions that can deliver impressive features at lower prices. Value-for-money-loving Filipinos will continue to choose more affordable options, especially for casual viewing.
Because of price, OLED is typically only an upgrade considered by wealthier consumers. Over the forecast period, it is expected that demand for OLED televisions will remain small, albeit seeing strong volume growth due to coming from a much lower base.
Filipinos often have no loyalty to specific retail channels and will opt to purchase from a particular seller if it is offering the best deal. For example, Filipinos have often compared and inspected an item at a physical store before proceeding to buy it online because of greater discounts.
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Understand the latest market trends and future growth opportunities for the Home Video industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Video industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Home Video research and analysis database.
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