Filipinos will remain positively cautious in 2024 even as macro-economic indicators such as inflation and gross domestic product numbers improve.
This is despite the fact households across the country have increased their spend on their overall in-home fast moving consumer goods in 2023.
The Outlook 2024 report of its Worldpanel Division that covered the FMCG purchases of 5,000 homes showed categories that were previously deprioritized such as healthy foods and personal and home care products also continue to experience recovery.
The report said more shoppers chose healthier food options such as soy milk, yoghurt, cereals and oatmeal in 2023 compared to the year before. They also purchased more self-care items like hair styling/treatments, facial wash and nail polish for home use. Paper towels and other fabric cleaning products saw an increase in spend as well.”
Households in the National Capital Region registered the highest growth at 21 percent; Visayas and Mindanao recorded a 13 percent rise, while the rest of Luzon closely followed with 12 percent.
Laurice Obana, Kantar Shopper Insights director at the Worldpanel Division, said trends from the previous years will continue this year: Value for money, omni-channel and out-of-home purchasing, shift to healthy products and pet spending.
