Consumers are waiting for sales, delaying big purchases — survey

consumers are waiting for sales delaying big purchases survey - Consumers are waiting for sales, delaying big purchases — survey

By Mariel Alison L. Aguinaldo

Eight out of 10 shoppers are looking to reward themselves across the holiday season by purchasing electronic devices and by traveling — an optimistic stance that assumes travel will be permissible by the end of 2020. 

They may be looking to buy these rewards through sales. According to a survey by Facebook and data company YouGov, 60% of Filipino shoppers have made purchases during sales. 

Upcoming sales include the “9.9” sale on September 9; and the usual November sales: Black Friday, Cyber Monday, and Singles Day. 

 “A deal can be seen in two ways. Am I saving money on this deal versus what I got before? Or am I getting the same price but getting better quality? People do that calculation of saying, ‘Maybe I’ll pay the same, but am I getting 15% more? Or am I getting something of a better quality?” said John Rubio, country director of Facebook Philippines, during a virtual press briefing on August 28. 

To capture a bigger share of the market, Mr. Rubio advised sellers to offer free delivery, cash-on-delivery payments, and discounts or coupons.

COVID-10 has made consumers more comfortable with e-commerce, with 46% saying that they will be shopping online more frequently even after the pandemic.

According to the Facebook and YouGov survey, a majority of Filipinos browse the most through the Facebook family of applications—which includes Instagram, Messenger, and WhatsApp—for gifting inspiration. 

Marketers should also consider that most of their online content is consumed on mobile phones. Mr. Rubio cited a study by market research firm Global Web Index (GWI) that showed 82% of Filipinos have been spending the most time on their mobile phones since the COVID-19 pandemic began; the mobile phone’s popularity cuts across generations as it is the most used device among members of Gen Z, millennials, and baby boomers.

The Facebook Mega Sales & Holiday 2020 Insight is based on third-party sources including GWI’s Coronavirus Research from April 22 to 27; Facebook conversion and conversation data from October 1, 2019 to January 31, 2020; and surveys done in partnership with YouGov, which polled 1,194 holiday shoppers in the Philippines aged 18 and above from December 2 to 24, 2019. 

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