Sunday, August 19, 2018

Emerging Shift in Filipino Consumption Mindset

"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. 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 businesses will stay relevant and be able to navigate ever-changing markets with ease and effectiveness."  ~Jos Ortega, Havas Ortega Chairman, and CEO

In order for a company to survive one needs to be in touch with whatever is happening and could also happen in the future. The prosumers report is part of a bigger study about 12k respondents via online about their thoughts and ideas and thoughts about certain things. Some insight into what is happening in the minds of this prosumer as well as foresight.

Havas group is one of the world's largest global communications groups. Founded in 1835 by Charles Louis Havas, the group employs 20,000 people in over 100 countries. Havas is committed to be the best company at creating meaningful connections between people and brands through creativity, media, and innovation.

93% believe that It Is their responsibility to change the world. Staying competitive in today's faster, more globalized, and more collaborative markets requires a keen understanding of the forces that drive ideas, products, and services from the unknown to the mainstream. Among these forces are the prosumers, they are consumers who are first to try what's new and are relied upon by their circles for recommendations and opinions. They are known to be influential in what the mainstream will patronize within 18 to 24 months. These individuals have been the subject of more than a decade of study by multinational communications hrm Havas Group. Its latest report includes the Philippines and reveals Filipinos’ changing attitudes and behaviors when it comes to choosing organizations, companies, and products to support.
“These numbers indicate that Filipino Prosumers have truly realized the power they have in influencing not just the marketplace but society as a whole. 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 for 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." ~Phil Tiongson, Havas Ortega’s Head of Data 8. Analytics

While respondents know that consumer spending helps the economy and enhances their own happiness, they also feel guilty and worry over the impact of their consumption on society and the planet. As a result, Filipino prosumers are redefining what makes a good purchase and are moving towards more mindful and meaningful buying habits.

Some of the key figures show that 73% (higher than the global average of 61%) are becoming more selective and ask themselves if they really need it before buying it; 88% (versus 71% global average) would be willing to pay more if it will contribute to a good cause; and 95% (versus 86% global average) think about the impact of their shopping on the planet’s resources.

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.

The latest Prosumer Report surveyed 12,168 men and women across different age groups in 32 countries in 2017. The Philippines has been included in the worldwide study since 2016.

Jos Ortega is the Chairman and CEO of Haves Ortega. the fully integrated communications agency In the Philippines that believes in “Stories. Experiences. Meaning.” He brings with him his strengths as a strategic thinker and over 30 years of experience to the company's highly ranked solutions In media. digital. creative. design. activation, mobile, public relations. and healthcare communications. He is also the Founder and Chairman of BrandLab, the management consulting agency known for harnessing authentic stories to build better brands and companies.

Prior to signing up to lead the Philippine office of the multinational Havas Group, he was CEO of JWT Manila and was Co-Founder and Vice Chairman of 8800, Guerrero Ortega.

Prosumers are leading-edge consumers making and breaking markets today. They come from all walks of life and comprise roughly 15 to 20% of the mainstream population. They are proactive (engages in the life of brands, organizations. and categories and shares recommendations); productive (understands the stories behind every purchase option before committing); progressive (pursues positive change whenever possible); perspective (considers a better future for the community before buying): and professional (constantly learns and observes brands and companies). They are the first to try products, services, and experiences and their recommendations drive the mainstream’s consumption choices and behaviors within the next 1824 months. The Havas Group has been tracking these individuals for over 10 years in their Prosumer Reports. The Group selects from a database of 55,000 people around the world to survey and help predict future attitudes and trends.

Filipino Prosumers have been included in the research only recently in 2016. Their changing relationship with consumption is the subject of Havas Ortega Group‘s recently launched report Emerging Shifts in Filipino Consumption Mindsets (from the global Havas Group's The Meaningful Shift). Top-Line results from the latest study show that 97% consider themselves the first person they know to try the newest things; 88% are consulted by their social circles for recommendations on various topics; 80% are actively engaged in pop culture; 67% see their social media posts shared or re-posted by others.

Emerging Shifts in Filipino Consumption Mindsets. Announced in the Philippines on August 14, 2018, Emerging Shifts in Filipino Consumption Mindsets shares the Filipino-centric information and insights from The MEaningful Shift, the global study from Havas Group that surveyed 12,168 people from 32 countries.

The localized report covers 251 respondents and presents the changes in Filipino buying behavior, examines the current tension between the love of shopping and ownership with the desire to help the planet and its inhabitant. It reveals that Filipinos are moving to more mindful and meaningful consunption habits, which poses a challenge to organizations and brands to adopt practices and support issues that resonate with the market It is the first Prosumer Report for the year and also the first time a Prosumer Report was launched in the country.

In this study, they shared the change of Filipino behavior in buying, examine the current tension between the love of shopping and ownership with the desire to help the planet and its inhabitants.

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