Wednesday, May 25, 2011

The Shopping Habits of Pinoys

‘Why shopping?’ I hear you ask when the other countries all over the world are conversing and engaging in brands and retailing. The answer is based on a straightforward truth. Generally people especially Pinoys love to go shopping. They do not get into retailing nor business, they choose shopping.

There is not any doubt about this, Filipinos simply love to buy and shop each and every chance they have. The Philippines is actually called as the Mall Republic with the all-pervasive malls mushrooming in most cities, corner, and practically just about everywhere is just one of the proofs that certainly expenses are rising on this country.

Do Filipinos generally earn more to permit them this behavior? Certainly not because still, most of people is within the poverty line. Even so, those in the middle income level are more likely to go shopping for consumer and technological goods, in other words, largely consumer goods.

Hence, plastic cards prove useful and a good reason that many would like to have these tiny plastic to permit them the convenience as well as the credit of spending on their heart's content. Despite of the current world economic downturn, research by Syncopate in 2009 says Filipinos spending habit usually remained precisely the same, with spending on luxury items only decreased. What this means is, that even just in major world downturn in the economy, the spending habits of Filipinos hasn't been significantly affected.

Oh, and did I forget to say that Filipinos love to shop and discover great bargains and deals?

Well, that has been the initial purpose actually however it just evolved into what's now enormous city-like shopping malls (probably why the name SM City).

The Philippines has malls large and small. The largest of these is the Mall of Asia (MOA) comprising 42 hectares and regarded as the third biggest in Asia along with the 4th worldwide based on Forbes (Although the recent renovation and adding of additional commercial space of the SM City North EDSA might have changed this statistic). Average daily visitors at MOA reach 200,000.

Currently because Filipinos need to do everything in one place , so in entered the medical clinics, the dental care clinics, the church fellowships, the indoor racing tracks, the bars, the coffee houses, bookstores,  barber shops, beauty salons, fitness centers, utilities payment centers, repair shops, conference halls, displays and galleries, name it and I’m sure it’s all inside somewhere.

And all of the malls within the Philippines are normally jam-packed!

And you will find a new one being built constantly or even the old ones being renovated to include more floor footage. Although this spending habit is great news for businessmen, this can't be said of the country's future savings and investment decision outlook. It is ok to spend but we should also allot a part of our earnings in savings and investment.

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1 comment:

  1. Shopping is the best habits of Filipino’s. I agree that the Philippines are actually called the Mall Republic with the all- pervasive malls. The Mall of Asia (MOA) is the largest mall in the Philippines. That’s why many people love to go and shop there. It is not the hindrance being a poor going in a largest mall because we have so called “Window Shopping”.

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