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Philippines FMCG Outlook 2023



Philippines FMCG Outlook 2023

Philippines FMCG Outlook 2023

2022 was a year of contrasts:

After a few months of stop and go in terms of mobility in Q1, we started to discover life post covid. This meant going out a little more, returning to the office or to school. And with this, our needs evolved, and our repertoire of categories expanded again.

But the recovery was progressively impacted by rising prices, limiting again the purchase power of consumer and shoppers.

2023 will largely be shaped by the level of inflation we will face.

If under control, then evolving needs post pandemic should fuel repertoire expansion and some degree of premiumization. On the other hand, if prices continue to rise, shoppers will be forced to make tough decisions again.

In this report, we have formed a point of view on the key trends that will shape 2023:

  1. Trade Off, Trade Up, Trade Down: Shoppers will be making trade offs, and they have been doing so by reviewing their product mix
  2. Private Labels: As they seek value, more homes are considering Private Labels
  3. Modern Convenience: Expanding channel repertoire via stores offering convenience
  4. In and Out Lifestyle: Globally, people are also recovering their OOH spending
  5. Sustainability: Polarizing Sentiments of shoppers on sustainability
  6. Beyond Hygiene: Shoppers picking up Non-Essentials H&B again in their baskets
  7. Pet-demic: People will continue to spend more on their fur families

Whether pandemic or hyperinflation, shoppers will continue to face disruptions. What matters most is our readiness to catch the tide. A way to do so is by mitigating some the uncertainties by understanding shoppers' actual behaviour.

It is how manufacturers are set to capture these as they evolve that will make all the difference.

We look forward to partnering with you to help you capture these opportunities. Book a free consultation with us.

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Des Deocareza

New Business Development Head


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Get in touch

Des Deocareza


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