More Filipinos are transacting online and data indicate that spending on online sales will rise.
Data collected as of Nov. 22, 2019, from Google Trends showed that between 2016 and 2019, search interest on Singles’ Day (Nov. 11) has grown by 97 percent. Hence, it came as no surprise that the average basket size of each consumer this year was 10 percent more than last year’s.
iPrice Group, a Malaysian-based information aggregator platform, gathered and analyzed data from more than 100 online merchants and more than 35 million products in the Philippines to reveal the amount spent during Singles’ Day and the product categories Filipinos splurged on the most.
iPrice noted five interesting Insights from its Singles’ Day analysis.
First, Filipino consumers spent an average of P1,217 last Nov. 11. This was P628 more than the average household expenditure a day, as per the latest statistics from the Philippine Statistical Authority (PSA). That was more than a thousand pesos on just consumer products alone in one day. The average basket size this year also grew by 10 percent as more Filipinos started to shift to online shopping.
The second point was that Filipinos still spend the most on sports and outdoor items and electronics. Filipinos splurged more on these items than any other category for two years in a row now. This year, the average amount a Filipino spent was P1,585 on sports & outdoor items and P1,352 on electronics. This could be due to the growing number of emerging gyms and outdoor amenities in the country. Surprisingly, Filipinos spent more on sports bags and fitness-related food supplements than gaming items and gadgets
Third, automotive and kids and toys categories had the highest surge. Interestingly enough, iPrice said automotive items had an 83-percent growth in purchases compared to last year amounting to P1,124 from P615. Most of the amount was spent on car and motorcycle accessories, which makes sense because the Philippines has such a high number of vehicle owners. Kids and toys, on the other hand, grew by 52 percent, or to P1,071 from P705.
Much of this growth was attributed to the purchase of gifts and baby gear items under this category. Overall, both categories contributed the most to the growth of the average basket size this year
Fourth, home and living and fashion items increased while health and beauty items slightly decreased. Both home and living and fashion items had 25 percent more purchases than last year. Filipinos spent P1,177 on home and living items and P1,122 on fashion items during Singles’ Day alone. However, health and beauty items had a 7-percent decrease in purchases. INQ