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How Has Consumer Behavior Been Evolving Through The Pandemic?
- 1. How Has Consumer Behavior Been Evolving Through The Pandemic? Gino Borromeo 11 March 2021
- 2. HOW, WHAT, WHERE AND WHEN we shop are being reshaped by pandemic life.
- 3. What has the pandemic done? Accelerated Filipinos’ adoption of shopping online and digital payments
- 4. Source: e-Conomy SEA 2020 report by Google, Bain and Temasek Holdings
- 5. Search trend for online selling-related queries Search volumes for select Food Delivery services, indexed to 2016 levels Source: e-Conomy SEA 2020 report by Google, Bain and Temasek Holdings
- 6. What has the pandemic done? Accelerated Filipinos’ adoption of shopping online and digital payments Exposed Filipinos to new offerings from new players
- 7. Source: InMobi ‘Ber Season in The New Normal report (2020) 36% of Filipino consumers have tried a new store this year
- 8. What has the pandemic done? Accelerated Filipinos’ adoption of shopping online and digital payments Made Filipinos reassess what are “essential purchases” Exposed Filipinos to new offerings from new players
- 9. Basic necessities for day-to-day survival “Obvious Essentials” “New Essentials” “Next Essentials” ECQ MECQ GCQ and beyond New needs that emerged due to quarantine life The next set of everyday needs for “new reality” life Quarantine life made Filipinos reassess what are “essential purchases”
- 10. Domestic Hobbies Productivity at Home Health and Wellbeing Functional Fashion Take Home Experiences Comfort Food New and Next Essentials that customers are shopping for
- 11. Domestic Hobbies
- 16. Comfort Food
- 17. The “reassessment of what is essential” is a trend that will likely endure.
- 18. A collective realization that we all need to take better care of our lives
- 19. Self Care • Taking care of my physical, mental and emotional health and well-being • Maintaining my sense of purpose • Maintaining my sense of self The Care Economy presents many business opportunities for SMEs
- 20. Care for Others • My family, friends and other loved ones • My pet(s) • Supporting the causes that I care about
- 21. Care for Spaces • Home spaces • Work spaces • Spaces that are shared or public
- 22. Empathy is a Filipina superpower
- 23. Observe and listen. Research. Learn from what is happening in other categories and industries