Filipino Consumer Trends 2021: What’s Stayed the Same and What's Still Evolving
A global pandemic, prolonged local lockdowns, and a significant contraction in consumer spending have triggered a significant shift in consumer needs, behaviours and drivers. Economic indicators point towards a slow recovery and as we move into the next two years, consumer spending will continue to be restricted.
To survive, businesses must refresh their initiatives and programs and revisit their value proposition, anchored on a deeper understanding of what customers value and need in today’s reality.
Over the last few months, Acumen's research and analytics team has touched base with consumers, economic experts, sociologists and psychologist to understand what has stayed the same and what continues to evolve as the pandemic lingers.