Consumerism Trends and Insights Among Filipino Millennials
Millennials form the largest adult segment globally, with 1.8 billion scattered worldwide. Their numbers represent an excitingly profitable opportunity for your business. The caveat is that you must first understand what motivates their purchasing decisions.
How do millennials in the Philippines shop, and what are the key channels and marketing initiatives that drive their consumer behavior? Their dominant numbers in the market have changed how businesses deliver products and services, influencing growing eCommerce adoption and a greater focus on sustainability.
This infographic looks into Filipino millennials’ buying behavior, providing actionable insights to engage and resonate with this influential demographic.
5 Filipino Millennial Statistics to Understand Them Better as Consumers
A general market overview gives you a sense of their motivations and behavior. Here are relevant Filipino millennial statistics to inform your marketing strategy.
1. Filipino millennials are the largest portion of the population as compared to other generations (IJAIR)
At 36%, the millennial generation in the Philippines forms a considerable portion of the country’s population. The percentage of baby boomers is smaller in comparison, which is at 12%. What does this mean for you? To resonate with a broad audience, focus on appealing to Filipino millennials.
2. Filipino millennial consumers are likely to spend around of 10 hours and 56 minutes on the internet daily (Locad)
With how much time millennials spend on the internet, it’s no surprise why some call the millennial generation in the Philippines “digital natives.”
Establishing a digital presence in the modern business landscape is essential to reach Filipino millennials. Without an online presence, you may go unnoticed by this demographic. You can achieve this through an optimized website and active social media engagement.
3. 59.6% of eCommerce users are millennials (Statista)
The pandemic has driven a significant eCommerce boom, making it the default shopping channel for many, especially Filipino millennials. eCommerce offers the convenience of browsing products anytime, anywhere, and a quick checkout process, contributing to its appeal.
If you’re an online business, you must optimize these experiences to improve customer satisfaction and increase sales among the demographic. You can leverage your customer data to understand the Philippine eCommerce landscape better.
4. 90% of millennials believe live shopping tools are influential on their purchasing decisions (Meta)
Live shopping allows sellers and buyers to interact with one another during a live video event. The typical setup involves the seller hosting the live stream and showing off their products to the camera for viewers to comment about buying in real-time.
Many businesses have found tremendous success with live shopping, and it should be well worth considering to help you tap into the Filipino millennials’ buying behavior.
5. 69.67% of Filipino millennials bought pre-loved fashion items (Zalora)
Sustainability is a massive trend in the global fashion industry. In the Philippines, millennials are especially mindful of the environmental impact of their clothing choices, with almost seven in ten preferring pre-owned items to reduce waste.
This preference towards sustainable products is just one of the many key consumerism trends among millennials in the Philippines that you need to be aware of.
6 Key Consumerism Trends Among Filipino Millennials
How are Filipino millennials spending their money? What are their mindsets towards purchasing? Below are a few insights into current Filipino millennials’ buying behavior.
1. Choosing sustainable products
The global shift toward sustainability has influenced many to change the products they buy and brands they trust.
An evident trend is the type of products consumers buy. According to Carousell Media Group, 75% of Filipino consumers prefer eco-friendly brands, with 92% favoring natural ingredient-based products. Hence, it benefits your business to shift towards more sustainable materials when producing your products.
2. Investing in speed and convenience
Online shopping, an important part of consumerism in the Philippines, offers unparalleled convenience, allowing customers to purchase various products anytime. However, issues like slow loading speeds and confusing site structures can disrupt the shopping experience, potentially leading customers to abandon their carts and costing you sales.
Investing in your site’s speed and convenience is critical for creating an enjoyable shopping experience for Filipino millennials.
3. Investing in real estate
Millennials in 2023 are buying property. Whether due to increased purchasing power or pandemic-related factors, you can’t overlook this trend as a real estate business.
To meet the expectations of Filipino millennials in the real estate sector, you must embrace technology such as virtual showrooms and tours. Additionally, consider offering diverse financing options, including those from digital lenders or crowdfunding platforms.
4. Considering brand first
According to a survey on Filipino millennials‘ online shopping behavior, 53% said that the brand, price, and advertisement were the most influential factors in purchasing electronics online. This emphasizes how significant your branding efforts are to your online business growth.
5. Valuing good deals
Many customers are becoming more selective with their expenses. A McKinsey & Company survey reveals that Filipino households are tightening their budgets due to lower incomes. In response, 90% of consumers have switched to brands that provide higher value.
Whenever millennial customers browse your products, they know they have their goal of financial stability in the back of their minds. The most enticing products will help them achieve that goal by being the most affordable option or offering the best return on their investment.
You can use the shopping behavior data you gather from your online store to help you understand further what millennial shoppers deem as a good deal for them.
6. Interacting with and messaging businesses
According to a study, Business Messaging: The Quiet Channel Revolution Across Tech from Meta and the Boston Consulting Group, 71% of Filipinos message businesses online. Millennials message businesses the most among other age groups at an average of twice a week.
This behavior represents a shift in how you should think of your customers. Your relationship doesn’t end after the transaction. With how much easier it is to message each other, it can allow you to develop and maintain a valuable relationship with your buyers.
It’s evident through these emerging trends that old marketing playbooks may no longer be as effective for a millennial target market. If so, how should you market to millennials in the Philippines?
5 Ways to Market to Filipino Millennials
The abundance of online tools and resources, as well as artificial intelligence, makes it much easier for you to learn about your millennial target market to appeal to them effectively. Consider taking advantage of the methods below to boost your millennial marketing campaign.
1. Mobile-first approach
A mobile-first approach to marketing allows you to meet your millennial target market where they already are. According to DataReportal, Filipinos spend 59.7% of their internet usage time on smartphones. This highlights the necessity of optimizing all your marketing materials for the smaller form factor.
Google announced in 2020 that they would adopt mobile-first indexing for their search engine. This change shows that prioritizing your website’s mobile experience will boost your search engine results page ranking.
In practice, it means working closely with your digital marketing and web development teams to optimize the smartphone experience for millennial site visitors.
2. Sustainability and social responsibility
According to a Pulse Asia survey, 83% of Filipinos would rather support companies they believe to have environmentally friendly practices. This emphasizes the need for your company to be more transparent about the products you sell.
You can adopt sustainable marketing in various ways. For instance, leverage social media by publishing videos interviewing workers about how they manufacture consumer products.
3. Gamified campaigns
Incorporating game elements into your campaigns can make them even more enticing for Filipino millennials. Gamified campaigns incentivize customers to complete tasks and reach objectives to win a reward.
A popular example of gamified marketing is Starbucks’ holiday sticker promotions. Customers earn rewards, such as planners or tumblers, by collecting certain stickers during the promotion. This not only gamifies the experience but also aligns with consumers’ sustainability goals by promoting reusable tumblers.
4. Highlight health
Connecting your messaging to health and wellness can be an effective way of appealing to Filipino millennials. According to Vero-Asean, Gen Z and millennials keep their wellness as a priority when they’re buying products.
It’s not just physical health; mental and financial well-being are also important to millennials in the Philippines. You can align your offering with their needs in several ways. For example, if you sell food products, highlight their nutritional value and how they contribute to energy and mental wellness.
5. Interactive content
Filipinos are highly tech-savvy, so you don’t have to worry about how a possible generational gap could affect your digital marketing efforts. Producing interactive content is an excellent way to market to millennials in the Philippines.
This can be as simple as live streams and live shopping events but can also include social media posts encouraging your target audience to share their opinions. These initiatives help you generate leads for your business and develop your relationship with your customers.
Connect with Your Millennial Customers
Millennials influence consumerism in the Philippines in many ways, some more noticeable than others. Their dominant numbers in the market mean you can’t overlook them while promoting your products.
Successfully attracting Filipino millennials to your business depends on truly understanding them. Fortunately, online shopping allows you to easily gather data about your millennial target market and purchasing behavior. With Inquiro, you get data-driven business analytics solutions for precise audience targeting.
Contact us today to schedule your demo.
