|There are more poverty-stricken families in the PH compared to last year's survey. (Photo from Asian Development bank website)|
[Asia News Communication = Reporter Reakkana] Some say that the pandemic is one great equalizer because it affects everyone and doesn’t choose its victim, but a survey showed that inequality was more obvious during the hard, long, and tough lockdown in the Philippines where the rich are found indulging in their premium brands while the poor subsisting on food basics.
John Patrick Cua, director of Nielsen’s Retail Intelligence business for Philippines, Vietnam, and Myanmar, said during a webinar on Filipino Consumer Behaviors & Retail Updates to COVID Impact organized by the German Chamber of Commerce of the Philippines presented a survey that revealed the birth of two tales of shoppers during this period: Insulated and Constrained.
The Insulated are those that enjoy job retention, sustained stable income, @home work relocation and enjoys family fiscal support while the Constrained shoppers are those who lost jobs, with compressed income, labor relation, poverty plunge and flux, debt default, no savings, subsist on basics, reactive health response and limited luxuries. As the wealthy “premiumize for quality,” and they also opt for self-care grooming and personal regimes. The Constrained reduced their spending and fast-moving consumer goods consumption. They prioritize meals over snacks, treats, beverages as they substitute for value-based adjacent categories. The Constrained also subsist on food basics that are affordable and available.