Filipino Gen Z mainly spends money to reward themselves, according to a joint study by Filipino-focused sociocultural research firm, The Fourth Wall, and communications firm, Uniquecorn Strategies.
Three out of four Filipino Gen Z consumers in urban areas shop online because they feel they deserve it. This is because they want to be happy, fear missing out on trends, and feel the need to reward themselves for dealing with work or study-related stress.
In a recent survey, it was found that 50% of Filipino Gen Z’s income comes from their parents, while the other 50% comes from full-time work, businesses, or side jobs. On average, they make six online purchases per month, with the number of purchases ranging from one to ten.
“This self-rewarding behavior among Filipino Gen Zs stems from their growing self-awareness, driving them to seek rewards that affirm that sense of self-worth,” said John Brylle L. Bae, the Research Director at The Fourth Wall.
Bae also said that this behavior can be attributed to the Filipino mindset of “sayang,” where daily struggles and lack of resources lead people to take advantage of rewarding opportunities because they fear missing out.
Urban Filipino Gen Zs are smart shoppers. They spend on high-quality products (81%) and competitive prices (10%). They are likely to buy from the same brand that consistently offers good quality and affordable products, but they are also open to trying other brands, even if they feel an emotional connection to their current ones.
Filipino Gen Zs prefer to buy products they trust and feel a personal connection to. When they learn about a product, 81% of them don’t make an immediate purchase. Instead, they first look for customer reviews on shopping platforms and Google. They rely on word of mouth (60%) and social commerce ads (59%) for product discovery. They trust friends and family, as well as honest reviews from influencers with appropriate expertise.
Gen Z is the first generation to grow up with the internet and digital devices practically glued to their hands. This means they like to shop online for convenience. Almost all the respondents (92%) use their own mobile phones to make purchases and prefer cashless payment methods (53%).
Dean Bernales, CEO and founder of Uniquecorn Strategies, emphasized the significance of understanding the consumer behavior of the younger generation.
“Online retailers should pay close attention to the shopping desires and needs of Filipino Gen Zs. Brands need to reassess their supply chain strategies and enhance their social commerce platforms to build trust, create personal connections, and develop a relatable image to capture the young market,” said Bernales.
To get full access to the Urban Filipino Gen Zs as Consumers – A Behavioral Overview, visit www.uniquecornpr.com
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