The rise in internet connectivity is influencing how Filipino consumers in urban areas shop. Close to 80% of Filipino urban dwellers are now online, and more than 90% of them have bought two to three categories at an average in the past 6 months.
In today’s retail environment in the Philippines, going big doesn’t guarantee big growth anymore. Similar to many markets, small store formats like smaller supermarkets and convenience stores have expanded to move closer to residential areas and high traffic areas to cater to shoppers' busier lifestyles.
While sales of sugar-sweetened beverages have been weakening in the past years, the accelerated rate of decline in sales in February or a month after the implementation of excise taxes reflects consumers’ typical reaction after a price increase.
As companies look to break into new markets, they must understand that each market demands its own approach. In burgeoning sustainability markets, however, natural and organic are paving the way for more detailed and specific claims.
Seasonality has a huge impact on OTC sales performance, and although it varies by category, 60% of sales are subject to this. We, of course, associate summer with hay fever and allergies; however, lots of other categories also enjoy the seasonal uplifts that come with summer.