Euroasia Group of Companies recently conducted our strategic planning session, facilitated by Ms. ANNA MARIE PERIQUET.
It was a highly productive and collaborative event where we charted the course for the company’s future. However, beyond the strategic discussions, it was a perfect time for the team to enjoy each other’s company, along with indulging in delicious food.
With a cohesive team united by a shared vision, we are ready to tackle challenges and seize opportunities, ensuring a bright and prosperous future for Euroasia Group.
This women’s month, a new study from Packworks, in partnership with Fourth Wall, has found that women essentially run the local economy in the Philippines.
According to Packworks’ business intelligence tool Sari IQ, 75 percent of sari-sari stores in the country are owned by women. Of the remaining 25 percent, 20 percent are run by men while ownership of the five percent remains unknown.
Unique to the Philippines, sari-sari stores can be found on almost every block. With the widely-accepted belief that Filipinos are, at the community level, a matriarchal society, it should come as no surprise that women own the majority of these family-run sari-sari stores. Their influence as the owners of these small retail shops has been primarily underrated, at least until now.
“The high percentage of sari-sari store ownership by women shows that Filipinas virtually control much of the local economy,” said Andres Montiel, Packworks’ Head of Data.
At the grassroots economy, women are in charge. With almost 70 percent of manufactured goods transacted in sari-sari stores, Filipino women hold significant sway in the local economy. However, there’s still work to be done to boost women’s labor in other industries and upskill female laborers for personal and economic growth.
“The primary reason for women’s domination of sari-sari stores lies in the very origin and nature of sari-sari stores themselves. Families set up sari-sari stores to augment the resources of the household,” explained Fourth Wall’s Research Director, John Brylle Bae. “Thus, sari-sari stores are always intertwined with the needs of the home. In the Filipino context, the role of the nanay [mother] is to manage the home, including addressing and managing the household’s needs.”
Due to the cultural influences of Spanish colonization and Western patriarchal culture, the role of women in Philippine society has drastically changed over the centuries, noted Bae. From religious and political leaders like babaylans and priestesses, women are now expected to be nurturers and caregivers—which is in itself a hot topic to debate. On the economic front, the role of women as the head of the household shouldn’t be underestimated, especially considering how much-untapped influence they have over the grassroots economy.
Out of the eight billion people in the world today, 64% use the internet, double the rate from a decade ago. Internet access has disrupted consumer life, including how they shop. Euromonitor International forecasts that consumers will spend nearly USD11 trillion on goods and services bought online in 2024.
This growing digital base needs to be at the center of your retail strategy. At NRF 2024: Retail’s Big Show in January, I spoke about the digital shopper trends that will have the biggest impact on retailers and brands. Let’s break down three big ones to watch in 2024.
Intuitive E-Commerce
The rising influence of digital channels is putting pressure on companies to improve the online experience. This is becoming possible due to evolving data-gathering strategies and emerging technologies, from AR to IoT to generative AI. These advances have the potential to transform the online shopping experience, leading to one that is more intuitive.
Consumers have greater expectations. About half of digital consumers want one-of-a-kind offerings. A fifth note the desire for more personalized shopping experiences. In both cases, these sentiments are higher among the most digitally savvy population, according to Euromonitor’s consumer research. That is telling as this shift toward a more intuitive experience is playing out on digital channels where these consumers shop more frequently.
In part, this means ensuring the online channel is more akin to what a consumer might experience in person. While a variety of data and tech will be used, generative AI is poised to take on a central role in shaping the online experience. Generative AI can be leveraged in a variety of ways, from improving customer service to tailoring marketing messages to optimizing supply chains.
Virtual assistants powered by generative AI can create a more intuitive experience by using additional information sources for added context. Zalando’s new chatbot offers suggestions based on natural questions the shopper might ask, and in the future, could be combined with personal preferences, taking steps toward making the discovery experience feel more intuitive.
Almost half of industry professionals say they plan to invest in generative AI in the next five years
Source: Euromonitor’s Voice of the Industry Survey, 2023
New technologies like generative AI could give brands a competitive advantage. The pioneers who can create a next-generation shopping experience using these advances will be the ones that fuel a new shopping behavior and usher in the next so-called “Uber moment.”
TikTok Economy
Digital consumers are flocking to TikTok and its Chinese sister platform, Douyin. Brands are striving to promote their products and services on these platforms known for their short-form video content, but some of the viral trends that are doing the most to boost brand sales are emerging organically from users on those platforms.
These ByteDance platforms are not only some of the most popular, but also the fastest growing. As of 2023, 43% of digital consumers globally report using them monthly, a 19-percentage-point jump in three years, according to Euromonitor’s Voice of the Consumer: Digital Survey. These short-form video platforms, also known for their endless scroll and advanced algorithms, are a hit with young consumers, especially Gen Z.
Although most marketing campaigns on TikTok are financed or initiated by brands, some of the most viral content is organic. In 2023, an Israeli TikTok influencer posted a video of herself wrapping a frozen Betty Crocker Fruit Roll-Up processed snack around ice cream to create a crunchy fruit-flavored ice cream cone. Almost overnight, Fruit Roll-Ups began flying off shelves, creating a black market.
ByteDance platforms are dabbling in retail. In 2020, Douyin pivoted from being a pure social media platform to a retailer, prioritizing smaller sellers with a low-fee structure with revenue supplemented by advertising. Douyin has seen massive e-commerce gains. Online sales of beauty and personal care products on Douyin’s marketplace surged 81% in the first nine months of 2023, as compared with the same period in 2022, according to Euromonitor’s new e-commerce research. As for TikTok, its TikTok Shop is finding success in Southeast Asia and set up shop in the US and UK in September.
Revamped Returns
Consumers have long wanted hassle-free returns but delivering on that expectation has not been without challenges. The convergence of trends, like the rise of e-commerce, closure of stores by some retail chains and boost in sustainable strategies, is moving returns up the industry agenda. New technologies and partnerships are paving the way to a happier return experience for shoppers.
Creating a hassle-free return experience is not without challenges. First, what is deemed hassle-free varies by consumer. Although 43% of digital consumers point to mail as the preferred channel for online purchase returns, preferences vary by generation. For example, baby boomers prefer to return by mail, while Gen Z prefer to return in-store. To solve the unhappy return experience, the industry needs to shift its mindset, viewing this as being about improving loyalty, rather than a revenue drain.
Retailers are deploying a variety of tactics to reduce returns or at least their impact on the bottom line. Electronics specialist Best Buy is opening 10 smaller outlets, specializing in selling used and refurbished electronics. The aim of these stores is to target budget-conscious shoppers and recoup more from open-box and return products. More and more retailers are outsourcing the return experience to companies like Happy Returns or Loop Returns, which provide merchants with a customizable online portal for returns and exchanges.
To date, many retailers have struggled to grasp the pivotal role returns play in shaping customer loyalty and, as such, have sidelined this moment. That’s changing.
Two-thirds of retail professionals said they plan to continue or even accelerate investment in product returns
Source: Euromonitor International’s Voice of the Industry: Retail Survey
Looking ahead
These trends demonstrate how online shopping continues to mature, improving the customer experience from the moment of discovery to potential product return. A second, prominent theme is how consumers desire more power in their relationship with brands. TikTok Economy is rooted in how consumers are using social media to gain power in the value exchange. This power has led to more authentic messaging, which resonates with younger consumers like Gen Z.
As you begin to execute your 2024 strategy, use these insights to guide your campaigns, decisions and growth plans with the most digitally savvy consumers.
The Pennsylvania-based donut and coffee chain has partnered with Bravo Foods Corp to open 25 outlets across the Philippines within six years – its largest international franchise agreement to-date.
Duck Donuts will enter the Philippines this year after signing its largest international franchise agreement to-date.
Local franchisee Bravo Foods Corp will open its first Duck Donuts in Makati – a key financial and retail hub in the Metro Manila region – in the second quarter of 2024. Bravo Foods Corp will then seek to open 25 sites by 2030.
“We believe that the warmth and uniqueness of Duck Donuts will resonate with the Filipino community. We are excited to embark on this journey of sweet success in partnership with Bert Bravo and leverage his knowledge of the market and industry as we begin to introduce Duck Donuts throughout the country of the Philippines,” said Betsy Hamm, CEO, Duck Donuts.
“I saw the potential of Duck Donuts when I first heard about it from my colleagues in California. We are excited to bring the unique, customisable donuts to our country,” added Bert Bravo, CEO, Bravo Foods Corp.
Duck Donuts currently operates 145 stores across 25 US states alongside international sites in Canada, Puerto Rico, Thailand, Egypt, Pakistan and Qatar. The franchise donut and coffee chain expects to open 10 new international stores this year and also has franchise agreements to launch in Aruba, Bonaire and Curaçao, Australia and the UK.
Jollibee Food Corporation (JFC) has opened the first Common Man Coffee Roasters (CMCR) in the Philippines at the Ayala Triangle Gardens in Makati City.
Founded in 2013, CMCR is a Singaporean brunch-focused café chain with eight outlets across its domestic market and Malaysia. CMCR also roasts specialty coffee and provides barista training in Singapore and Malaysia via its Coffee Barista Academy.
The Makati City store features an in-house roastery and will offer a premium specialty coffee menu, including slow brew filter coffee priced from PHP220 ($3.90). Additionally, cappuccino and flat white are priced at PHP180 ($3.20) and CMCR’s signature Nitro Honey Oat Latte at PHP250 ($4.47).
Market leader Dunkin’, which has 800 outlets in the Philippines, retails cappuccino at PHP90 ($1.60) while premium-focused Starbucks prices the same beverage at PHP160 ($2.80).
The chain’s launch in the Philippines follows a joint venture agreement between JFC and Singapore-based Food Collective Pte. Ltd. which also includes a deal to bring 16-store Tiong Bahru Bakery to the country.
“We’re excited to bring the Common Man Coffee Roasters in the country and give the community an elevated café experience. Common Man’s consciously sourced coffee and numerous deliciously healthy brunch options contribute to this experience and help fulfill our mission of spreading the joy of eating to everyone,” said Ernesto Tanmantiong, CEO, JFC.
JFC operates more than 6,500 outlets globally across its 16 food and beverage brands, including its eponymous fast-food restaurant chain Jollibee, coffee chains Highlands Coffee and The Coffee Bean & Tea Leaf, alongside bubble tea chain Milksha. The Filipino fast-food giant said launching CMCR in the Philippines forms part of its ‘aggressive growth plans’ for 2024 as it seeks to become one of the five largest restaurant companies in the world.
THE Philippines ranked first in retail e-commerce growth in 2022 among Southeast Asian countries, posting a 25.9-percent growth, according to an Asian Development Bank (ADB) report.
The ADB report, published in November 2023 with the title “E-Commerce Evolution in Asia and the Pacific: Opportunities and Challenges,” noted that although the e-commerce ecosystem in the Southeast Asian subregion is still “nascent,” the market has been growing rapidly and outpaces the rest of its Asian neighboring countries.
Citing a 2022 report by Cramer-Flood, ADB said the subregion’s growth of 20.6 percent in retail e-commerce in 2022 “stands out” among all other economies and regions globally.
In addition, it noted that only four economies reported faster growth rates than the combined figure of Southeast Asia. Two of these, however, still belong in the subregion, namely, the Philippines and Indonesia, ADB said.
“The Philippines, on the other hand, ranks first in retail e-commerce growth in 2022, posting 25.9-percent growth.
Five economies within the region—Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam—will rank among the top 10 markets worldwide measured by retail e-commerce sales growth by the end of 2022,” ADB noted as it cited the 2022 Cramer-Flood report.
he multilateral institution pointed out that the subregion’s rapid growth is “largely driven” by a spike in digital consumers since the pandemic began.
In fact, ADB said according to Meta, Facebook estimates that since the start of the pandemic, 70 million people in Southeast Asia have become digital consumers, with about 30 million joining those ranks from 2020 to 2021 alone.
Further, a 2021 Google report noted that the aggregate internet penetration in Southeast Asia grew to 75 percent by the end of 2021, ADB said.
“In 2022, there were about 516.5 million internet users in Southeast Asia alone,” ADB noted, citing Statista.
Meanwhile, in terms of retail spending, ADB noted that Singapore continues to pose the highest per capita e-commerce spending at $772.25 per capita in 2022, from only $389.8 per capita in 2019 or pre-COVID 19 pandemic.
This, ADB noted, is almost three times the e-commerce spending in Thailand, which is at $273.4 per capita. Meanwhile, exponential growth from prepandemic levels is seen in Malaysia, whose spending per capita increased from $112 in 2019 to $200 per capita in 2022.
For Indonesia, its spending per capita soared from $66 per capita in 2019 to $207 per capita in 2021 while the Philippines, at $60.3 per capita and Viet Nam, posting $153 per capita, lagged in 2022, the ADB report noted
Prices of basic and essential goods have been rising during times of inflation. The substantial impact of this situation concerns a growing number of individuals, which leads them to become more budget-conscious consumers by looking for affordable alternatives.
With this in mind, EuroAsia Research Experts conducted a Price Survey to identify the cheapest supermarket retailer to help you make simple yet smarter decisions with your purchases.
The Price Survey is hereby guided by the following principles:
The Price Survey shall be conducted on a bi-monthly basis
An average of three retailers shall be surveyed each round
An average of 30 -70 items available across all retailers being surveyed shall be canvassed
Participants are ranked based on the total price of all comparable items (SKUs available across all retailers)
Participating Retailers
Items Surveyed
The following 55 items were surveyed, 50 of which are available at all retailers:
Pancit Canton Kalamansi 80g
Pancit Canton Chilimansi 80g
Pancit Canton Sweet and Spicy 80g
Lucky Me Beef 55g
Lucky Me Chicken 55g
Nescafe Original 26g/28g*10
Bear Brand Powder 33g*8
Milo 300g
Datu Puti SoySauce 100ml
Datu Puti SoySauce 200ml
Ufc Banana Catsup 320g
Eden Cheese Swak Pack/ Sulit Pack 45g
Star Margarine 100g
Yakult 80ml*5
Mega Sardines in tomato 155g
Mega Sardines in tomato 425G
Century Tuna Flakes in Oil Hot and Spicy 180g
555 Sardines in tomato 155g
Ligo Sardines Red 155g
Argentina Corned Beef 175g
555 Tuna Mechado 155g
555 Tuna Adobo 155g
Vienna Sausage
Skyflakes 25gx10
Fita 30g*10
Hansel Milk Sandwich 40g*10
Cream O Vanilla 33g*10
Jack and Jill Nova CountryCheddar 40g
Maggi Magic Sarap 55g
Knorr Cube Chicken 120g
Knorr Cube Pork 120g
Knorr Cube Beef 60g
Knorr Sinigang Sampaloc Original 22g
Aji-no-moto 500g
Ladies Choice Mayonnaise Doy 220ml
Ladies Choice Mayonnaise Doy 440ml
Smart Dishwashing paste lemon 200g
Smart Dishwashing paste calamansi 200g
Safeguard Bar pure white 175g
Creamsilk Pink Stand out 12ml*12
Head & Shoulder Menthol 12ml*12
Buttercup Salted 200g
Champion white Original Bareta 370gm
Chippy Red 27g
Piattos Blue Cheese 40g
Tang Pineapple
Maya All Purpose Flour 400g
Maya All Purpose Flour 800g
Maxx Honey Lemon *50
Knorr Liquid Seasoning 250ml
Bear Brand Ster 200ml
Cheez Whiz 100g
Cheez Whiz 200g
Nestle All Purpose Cream 250ml
Knorr Crab and Corn 60g
Result of the Survey
In terms of Pricing
Price plays an important role in consumer buying decisions. Consumers, particularly budget-conscious consumers, are heavily influenced by it, as they often compare the prices of products and choose which option provides the greatest value for their money.
Thus, EuroAsia Research Experts gives you this week’s most affordable supermarket retailer to help you decide!
Puregold, not just true to its tagline, “Sa PUREGOLD, Always Panalo!” but also emerged as the go-to retail brand for the majority of Filipinos in 2022 according to Kantar, was hailed again as the most affordable supermarket among the other two retailers for this week! Retailer 2 is 3.26% more expensive, followed by Retailer 3, which is 3.96% more expensive than Puregold.
In terms of Product Availability
Metro Supermarket, with 96.36% of the 55 SKUs surveyed compared to the other two retailers, excelled in terms of product availability! On the other hand, Shoppers’ Mart and Puregold battled for the next spot, with both having 94.55% of the 55 SKUs surveyed.
EuroAsia Research Experts is a valuable resource that offers a price survey, providing consumers with the latest insights from supermarkets and retailers. This information is designed to assist individuals in making well-informed purchasing decisions.
Whether you are looking to compare prices between different supermarkets or simply want to stay updated on the latest pricing information, EuroAsia Research Experts is here to help. So, the next time you are in need of guidance for your shopping needs, turn to EuroAsia Research Expertsfor the most up-to-date insights which will make you purchase with confidence.
Filipinos have increased their budgets for holiday shopping in online channels given the convenience, exclusive discounts, and range of offerings, according to marketing technology provider InMobi.
The InMobi 2023 Holiday Retail Guide for Advertisers showed that 57% of local holiday shoppers have increased their budgets for online shopping, yet it noted 43% have less than P10,000 in budget.
It added that 35% have a budget of P10,000 to P25,000, 13% can spend P25,000 to P50,000, and 5% eye running through over P50,000.
“They pick mobile for its convenience and physical stores for tangible product experiences and assurances,” InMobi said on holiday deal sources.
On one hand, respondents preferred shopping on mobile due to the convenience of ordering (72%), app-only discounts (60%), and ranges (47%), InMobi noted.
These included purchases in clothing and accessories, health and beauty, hobbies, and gadgets, it added.
On the other hand, in-store shoppers cited getting to see or try the product (96%), lesser chances of buying the wrong product (82%), and in-store offers (60%) as their top reasons, InMobi said.
It mentioned home appliances and improvement, gadgets, gift packs, and holiday-focused groceries as top in-store purchases.
InMobi noted peak shopping activities in double-digit festivals, such as 11.11 and 12.12, as opportunities for shoppers to explore and purchase, which brands must take advantage of.
“It starts with being present with those who have already started exploring,” it said on tips for brands. “With mobile emerging as the top shopping channel, it is important to create experiences that engage the holiday shopper at every touchpoint.”
InMobi suggested online retailers leverage technology, such as interactive camera filters and personalized mobile-first experiences, to engage with shoppers.
“Understand them and decode their online and offline behavior,” it said. “Evoke engagement throughout their shopping journey by being on the destinations they love.”
“Drive delight with innovative and engaging mobile experiences that inspire action.”
Additionally, the report showed that 55% of Filipino shoppers are category explorers, 38% are brand lovers, and 7% are bargain hunters.
“More men exhibit love for brands, while more women are hunting for the right deals,” it said on holiday shopper personas in the Philippines.
The InMobi 2023 Holiday Retail Guide for Advertisers sampled 1,000 mobile users across the Philippines, Indonesia, and Singapore between Sept. 12 and 18.
Nowadays, the impact of inflation has been felt everywhere, especially on the prices of basic and essential goods, which have been rising. This concerns a growing number of individuals and drives them to become more budget-conscious consumers by looking for affordable alternatives.
With this in mind, EuroAsia Research Experts conducted a Price Survey to determine the cheapest supermarket retailer to help you in making simple yet smarter decisions with your purchases.
The Price Survey is hereby guided by the following principles:
The Price Survey shall be conducted every week
An average of three retailers shall be surveyed each round
An average of 30 -70 items available across all retailers being surveyed shall be canvassed
Participants are ranked based on the total price of all comparable items (SKUs available across all retailers)
Participating Retailers
Items Surveyed
The following 68 items were surveyed, 64 of which are available at all retailers:
Pancit Canton Kalamansi 80g
Pancit Canton Chilimansi 80g
Pancit Canton Sweet and Spicy 80g
Lucky Me Beef 55g
Lucky Me Chicken 55g
Bear Brand Swak 33g*8
Milo 300g
Mogu Lychee 320ml
Yakult 80ml*5
Pocari Sweat 500ml
DM FourSeason1L Tetra
DM Pj with Ace 220ml
Ufc Banana CTSUP 320g
Ufc Banana CTSUP 530g
Mang Tomas 325g
Datu Puti white vinegar Pet 385ml
Mega Sardines Ts 155g
Mega Sardines Chili 155g
Century Tuna H&S 180g
Argentina CB 175g
Purefoods Corned Beef 150g
Purefoods Corned Beef 210g
Purefoods Corned Beef 380g
Maling B2 Chicken Lencheon Meat 397G
Spam LM Regular 340g
Libbys Vienna Sausage 4.60z
Sky Flakes 25g*24
Hansel Mocha *10
Piattos Cheese 40g
Maxx Honey Lemon*50
Alaska Evaporada 360ml
Alaska Classic Sweetened Condensed Milk 300-375ml
Nestle All Purpose Cream 250ml
Maggi Magic Sarap 55g
Knorr Cube Beef 60g
Knorr Cube Chicken 120g
Knorr Cube Pork 120g
Knorr Sinigang Sampaloc Original 22g
Knorr Sinigang Sampaloc Original 44g
Knorr Crab and Corn 55-60g
Mama Sitas Oyster Sauce 156g
Mama Sitas Oyster Sauce 405g
Mc Cormick Iodized Salt 500g
Mc Cormick Iodized Salt 1kl
Lady’s Choice Mayonaise Doy 220ml
Lady’s Choice Mayonaise Doy 470ml
Lady’s Choice Super Chunky PB 340g
Star Margarine 100g
Star Margarine 250g
Cheezwhiz PLN 210g Bot
Cheezwhiz Reg Pouch 200g
EdenFilledCheese 160g
CreamSilk Con Ultreborn 350ml
Safeguard White Soap 60g
Safeguard BS WHT 175G
ModessWW SulitPK*32
Zonrox CLRSFE 450ml
Zonrox CLRSFE 900ml
Zonrox Bleach Original 1L
Coca-cola Zero 1.5L
DM Pine Tidbits 200g
Cowhead Pure Milk 1L
San Miguel Pilsen 330ml
San Miguel Light Can 330ml
Smirnoff Mule 330ml
Tang pineapple 19g*6
Maya Ori Htcake 500g
Maya All Purpose Flour 800g
Result of the Survey
In terms of Pricing
Budget-conscious consumers looking for affordable alternatives are highly influenced by price when it comes to their buying decisions. They often compare the prices of products and choose which option provides the greatest value for their money.
With this, EuroAsia Research Experts gives you this week’s most affordable supermarket retailers.
Puregold, best known for its tagline “Sa PUREGOLD, Always Panalo!” won over the two other retailers in terms of pricing with 64 out of 68 SKUs surveyed. Retailer 2 is 2.60 % more expensive, followed by Retailer 3 which is 3.24% more expensive than Puregold.
In terms of Product Availability
In terms of product availability, WalterMart, with 100% of the products surveyed available, won over the two other retailers! Followed closely by SM Hypermarket, with 98.53% of the 68 SKUs surveyed. However, Puregold, in spite of excelling in terms of price, loses in terms of product availability for only having 95.59% of the products surveyed.
EuroAsia Research Expert is a valuable resource that offers a price survey, providing consumers with the latest insights from supermarkets and retailers. This information is designed to assist individuals in making well-informed purchasing decisions.
Whether you are looking to compare prices between different supermarkets or simply want to stay updated on the latest pricing information, EuroAsia Research Expert is here to help. So, the next time you are in need of guidance for your shopping needs, turn to EuroAsia Research Expert for the most up-to-date insights which will make you purchase with confidence.
