Study shows Pinoys are buying less FMCG
Kantar Worldpanel, the global expert in shoppers’ behavior, revealed that majority of Filipinos now hesitate when it comes to spending on fast moving consumer goods (FMCG). This has resulted to households purchasing less FMCG products in 2017.
Purchasing Konfidence, a quarterly study conducted by Kantar Worldpanel, tracks consumer confidence related to purchasing power of 3,000 Filipino homes in urban and rural areas across the country.
FMCG or consumer packaged goods (CPG) are products that are sold quickly and at relatively low cost.
Examples of FMCG include non-durable goods such as packaged foods, beverages, toiletries, over-the-counter drugs and many other consumables.
“We are seeing a downward trend in the purchasing confidence of Filipinos. When we look at the quarterly data over the last two years we see that Filipinos are spending less on FMCG products. We expect the trend to continue in the last quarter of 2017,” said Lourdes Deocareza, Kantar Worldpanel New Business Development Head.
Kantar’s data shows that Filipinos are more pessimistic when it comes to their shopping power. They are purchasing less FMCG products indicating a decline of shopping confidence now at -11.8 points as of July to September 2017 (Q3 2017).
This is a significant dip from a confidence rating of 0.8 points in the same period in 2015.