FMCG Monitor: Q2 2022
Kantar's FMCG Monitor presents an overview on the Philippine economic situation and a deep dive on how the Philippine FMCG landscape is performing in the recent quarter. The report includes a snapshot of FMCG performance across key regions, SECs, channels and retailers in the Philippines.
ECONOMIC SITUATION: Philippine economy grew by 7.4% for the second quarter of 2022, slower than last year’s growth of 12.1%. This year, more Filipinos are getting employed with 94% percent employment rate. This is higher than last year’s employment rate of 92.3%
SHOPPING BEHAVIOUR: As the economy improves in Q2 2022, shoppers are spending more across all FMCG sectors, with personal care leading recovery this quarter. Shoppers across regions and SECs become more confident with their spending but we also need to watch out as recent inflation may put budget constraints moving forward.
CHANNEL LANDSCAPE: Shoppers are returning to traditional trade and proximity channels, particularly sari-sari stores. In fact, spend in SSS has surpassed pre-pandemic spend.
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