The Philippines today has the largest generation of young people in its history. 62% of the population is under 35 years – Millenials and Generation Z. This is one of the contributing factors to the Philippines having one of the most dynamic economies in APAC, according to the World Bank, along with increasing urbanisation and the growth of a middle class.
The younger generation dominate the internet user population and those aged between 25 to 34 years account for more than 50% of online shopping, as well as being among some of the highest earners.
The Carousell Media Group and the IAB SEA+India have released a new report on Attitudes in the Philippines to saving, spending, shopping and sustainability. Here are some key highlights –
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online grocery shopping rose from 40% pre-pandemic to 70% over the last 12 months
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9 out of 10 respondents order meals online from Grabfood
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Filipino shoppers prefer locally-made products from natural ingredients
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62% of respondents shop sustainably
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27% of respondents live in households with six or more people, compared with the regional average of 16%
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of respondents who own a property, 68% own landed property, higher than the regional average of 41%
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a quarter of respondents took out a loan over the last 12 months and of this 17% used it for medical purposes, higher than the regional average of 8%
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more than half of respondents plan to travel locally and overseas over the next 12 months
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stocks and crypto were preferred investments over the last year; while property and stocks are favoured for the next 12 months
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68% of respondents said they would consider using social, crypto and online trading apps over the next 12 months
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time online has increased over the past year, with most time spent streaming content, ordering in meals and online learning; over the next 12 months respondents say they plan on doing less of the first two and increasing time spent in online learning and fitness programs
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Netflix and HBO Go are the preferred streaming services
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40% of respondents have sold items on Carousell recommerce platform over the past 12 months.
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The Carousell Media Group and the IAB SEA+India carried out this research project in five countries in total, generating a Local Report for each country and a Regional Report summarising and comparing the results across each country. Here are the other Local Reports as well as the Regional Report :