What are the Most Popular Brands that Filipinos Buy Online?
Brands have become an essential consideration in making purchase decisions. Lazada - the Philippines' One-Stop Shopping and Selling Destination is no stranger in understanding consumer behavior towards brands specifically in the online retail space. In a study conducted by Lazada on which brands Filipinos buy online, Penshoppe, ASUS, and Cherry Mobile showed strong affinity with online shoppers evidenced by local Google search results as well as search and sales within the Lazada website and mobile app.
Consumer Affinity and Retail Trends
Camera brand Canon and power tool brand Bosch remains to be popular among consumers aged 55 and above. "The number of consumers looking to buy beauty products online is increasing, so partnering with Lazada seemed to be the best way to expand into the online shopping space,” says Khristine Santos, Customer Development Manager of Belo Essentials. These partnerships allow brands to easily track results and develop a better understanding of their online market. Mr. William Go, Country Sales Director of Bosch, Inc., regards Lazada as “one of the fastest growing distribution channels of Bosch Power Tools” due to its wide range of customer reach and product availability.
To showcase these favorites, Lazada, together with its brand partners, stages events like the Brands and Sellers’ Showroom. This event aims to showcase Lazada’s most-loved brands at their best prices, offering exclusive discounts of as much as 80% on select bestselling items across all categories. Participating brands often include Alcatel, which has utilized these sales to offer products like the Alcatel Flash Plus to the online market.
Growth and Value of Top Philippine Brands
The growth in value of the most valuable Philippine brands echoes the positive sentiments of their nation’s economic outlook, according to a new report by Brand Finance. This is especially so for brands in the banking and real estate sectors that benefited from strong post-pandemic economic rebound. All banking brands and real estate brands listed in 2023’s rankings posted upticks in brand value this year, ranging from 4 percent to 54 percent.
- BDO: With a brand value growth of 14 percent to $2.5 billion, it is the most valuable Philippine brand.
- Jollibee: Brand value up 51 percent to $2.3 billion.
- Globe Telecom: Brand value stands at $1.9 billion.
- PLDT: Has a brand value of $1.9 billion, down 25 percent from the previous year.
- Chinabank: Posted a 26-percent growth to $350 million.
- Ayala Land: Brand value increase of 54 percent to $451 million places it as the largest brand value gainer among real estate brands.
In terms of brand strength, Mang Inasal is the strongest brand among the most valuable Philippine brands ranked this year, recording an impressive Brand Strength Index (BSI) score of 86.3 points of 100. Following behind Mang Inasal are Bear Brand and Globe Telecom as the second and third strongest brands respectively.
Influencer Marketing and Consumer Engagement
Dubbed as the “social media capital of the world”, the Philippines is a hotspot for social media marketing to prosper. Filipinos are the world’s number one social media users in terms of time spent online, spending an average of 4 hours and 12 minutes on social media. Consequently, 71% of Filipino consumers are more likely to make a purchase based on a social media reference.
Influencer marketing is the fastest-growing channel for acquiring customers online. On average, businesses generate $6.50 for every $1 invested in influencer marketing because consumers trust the content and recommendations the influencers post. To maximize this, brands must map their influencers to specific goals and KPIs:
- Brand Awareness: Target Celeb / Mega influencers on Instagram, Facebook, and Youtube to drive Impressions.
- Product Consideration: Utilize Micro / Macro influencers via Instagram Stories and Youtube to boost Engagement.
- Purchase Intent: Engaging Micro / Macro influencers across all channels to drive Engagement.
- Sales: Leverage all tiers of influencers on Instagram Stories and Blogs to increase Clicks.
- Loyalty: Engaging all tiers across all channels to maintain Impressions.
