NextGen Day

MANILA, Philippines — The outlook for the fast-moving consumer goods (FMCG) sector this year is “cautiously positive,” according to data, insights, and consultancy firm Kantar, because the pandemic caused a protracted interruption in Filipinos’ purchasing habits.

Lourdes Deocareza-Lozano, the new business director of Kantar Philippines Worldpanel Division, stated in a virtual news briefing on Thursday that most Filipinos had dramatically cut their spending over the previous two years.

“If you look at FMCG, you’ll notice a substantial reduction. So, looking back over the last two years, it’s been a long journey for a consumer —from freedom to terror, and then, by 2021, it appears that we were anticipating things to be better,” Deocareza-Lozano said.

She stated that shopper spending is recovering, but has not yet returned to pre-pandemic levels.

FMCG expenditure of households from classes D and E, which account for 80% of the population, was the most affected during the epidemic, according to Deocareza-Lozano.

FMCG spending in Classes D and E fell by 12 percent and 11 percent, respectively, putting the average FMCG spending level of all Filipino households in 2021 down by 11 percent from the previous year.

“It’s going to be a different image in 2022.” She went on to say, “We have a lot of reasons to be optimistic.”

The greater GDP growth anticipated for the Philippines, as well as new buying habits adopted by Filipinos in the last two years, such as value for money, new channel missions, e-commerce, and sustainability, are among the reasons for a stronger outlook for this year.

Face-to-face classes will also assist in the revival of FMCG expenditure.

“Brands, particularly in the FMCG business, would become cautiously confident about their development prospects in 2022,” Deocareza-Lozano said. “In order to persuade Filipinos to choose and buy their products as frequently as possible, FMCG firms must be able to assess and comprehend their shifting behaviors.”

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