Filipino consumers are becoming more socially-responsible as they realized how their purchasing power can influence not just the marketplace, but the society as a whole.
This opens up a sudden shift leading to a new trend from mindless consumption towards meaningful consumption, according to “Emerging Shifts in Filipino Consumption Mindsets”, a study shared by Havas Ortega Group.
The study found that 93 percent of the so-called Filipino prosumers today believe in their responsibility, and 86 percent believe in their capacity to make a difference in the world.
Prosumers are leading-edge consumers that explore and embrace innovation and constantly seek out information and experience. They are highly influential in their larger-than-average, but intimate social circles, marketing savvy, demanding of brands, enthusiastic adopters, testers and disseminators of new content, new media and new tech.
“These numbers indicate that Filipino prosumers have truly realized the power they have in influencing not just the marketplace but society as a whole,” says PhilipTiongson, Havas Ortega’s head of data analytics.
The research found that 49 percent of Filipino prosumers believe in the strength of their purchasing power more than their voting power, and 60 percent will choose a product depending on a company’s values or political and social activities.
“The mere act of choosing at the grocery, at the supermarket, in a boutique, or in the mall are more than just shopping and buying of Filipino prosumers. The choice in itself carries ripples of effect to the rest of the society. For them, the power to choose is more than just about which brand or product to bring home; the choice also reflects how they are answering the call to be socially-responsible individuals,” Tiongson said.
As the Filipino consumption mindset starts to shift in this direction, organizations and brands face the challenge of developing products and services that appeal to these consumers’ emerging needs and considerations.
Jos Ortega, the company’s chairman and chief executive, said businesses have to adapt by taking the consumers’ guilt out of the equation and helping them express a ‘me’ they feel good about whenever they buy.
“Businesses will stay relevant and be able to navigate ever-changing markets with ease and effectiveness by responding to the evolving priorities and aspirations of Filipino consumers today – their need to grow into and present their best selves, to make a positive contribution in the world, to support community, and country, to be less wasteful and help the planet,” Ortega said.
