Philippines: Consumer Profile

July 2023

The economy in the Philippines grew rapidly in 2022 and urbanization as well as consumer income are forecast to grow. The average number of children per household is expected to decline, while smaller homes remain popular but larger properties show the highest growth. The Philippines faces challenges of inflation and a gender pay gap. However, the economy has seen positive developments driven by tourism and remittances.

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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 drivers affecting consumers in the Philippines in 2022
How developments today shape consumer of tomorrow
Key findings
Today 2022: Philippine population is young
Today: Philippine population growth slows down
Today: Filipino consumers connect with brands on social media
Tomorrow 2040: Generation Alpha to emerge as the largest cohort
Tomorrow : Millennials and Gen Z see internet as a significant addition to their daily stress
Tomorrow : Manila to remain the most densely populate city in the country
Areas of opportunity
Case study: City of Pearl to become the biggest smart city in the world
Today 2022: Large families with children dominate
Today: Most Filipinos live in smaller dwellings
Today: Filipino Gen Z prefers minimalistic home designs
Tomorrow 2040: Households with children will grow the fastest and maintain dominance
Tomorrow: Filipinos between 35 and 39 forecast to be a majority in top income band
Tomorrow: Online presence of Filipino consumers to grow
Areas of opportunity
Case Study: ITOOH E-Furniture and Design Inc. – first Filipino furniture e-commerce start-up
Today 2022: Growing income and stronger spending in higher income bands
The Philippines maintains a positive economic outlook amidst inflationary pressures
Filipino consumers plan to spend more on health
Tomorrow 2040: Lower income class to remain the most prevalent
Tomorrow 2040: Middle class expansion will grow demand for affordable items
Tomorrow 2040: Manilla to remain the most affluent city
Areas of opportunity
Lista PH app helps consumers to manage their digital finance
Key findings consumer survey
Younger generations have a more positive outlook on their future
Budgeting trend on the rise as Filipinos seek to maximize savings
Over half of Filipino respondents embrace remote work on a weekly basis
Filipino consumers are looking for ways to save
Filipinos embrace sustainable practices amid climate change
Case study: BAMBUHAY develops the first bamboo toothbrush that can be planted
Areas of opportunity
Key findings
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