High prices, more than pandemic, scare Pinoys B A E. S J
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ANTAR, a major global data analytics company, said 7 out of 10 Filipinos are more concerned with the rising grocery prices compared with experiencing another pandemic. “Now, when we asked our respondents what concerns them most, on top of the list and on top of their minds would be rising grocery prices. So if you look at it, it’s actually besting. They’re even more scared of the rising prices over another pandemic crisis,” Laurice Obana, Consumer and Shopper Insight Director at the Worldpanel Division of Kantar in the Philippines said. The Shopperscope 2023 report,
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which studied the financial state and concerns of 2,000 Filipino households in relation to fast-moving consumer goods (FMCG) purchases, reported that next to the rising grocery prices, 50 percent of Filipinos are wary of experiencing another pandemic. Meanwhile, 39 percent of the surveyed households expressed concern over the impact of climate change; potential fuel shortages, 34 percent; physical health of self and others, with 30 percent; future financial security, 30 percent; mental health of self and others, 30 percent; political conflict with other countries, 28 percent. In particular, Kantar said in its statement that when choosing where to buy FMCG products, those
who participated in Shopperscope 2023 expressed the “continued importance” of value and convenience during inflationary times. Obana stressed that when it comes to value, Filipinos put more emphasis on price and affordability in 2023 compared to last year. The report illustrated the change in the behavior of Filipino shoppers when it comes to purchasing FMCG products. In 2022, the study noted that Filipinos only give importance to the “overall value for money,” while in 2023, it said Filipino consumers give importance to “not just value but price.” In particular, the respondents divulged the factors that they consider when buying FMCG products when considering the value of a
product, such as, “it makes me feel I spend my money wisely,” “offers good promotions [Price-off is most important];” “Prices are low,” and “generic brands are offered.” Meanwhile, the report said that Filipino consumers in 2023 also take into consideration access to products and not just convenience. The respondents defined having access as: the store is open for long hours, is near other facilities, location is very accessible, and near other stores. Based on the report, another important consideration Filipino shoppers look at is “ease in shopping.” Under this factor, the respondents said this means havC A
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Thursday, July 13, 2023 Vol. 18 No. 269
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RULES ON PHL—PASCUAL B S P. M @sam_medenilla
RECOGNIZING the government’s efforts to address human rights violations concerns, the European Union (EU) is expected to soon extend the country’s Generalized Scheme of Preferences Plus (GSP+) by another four years.
PASCUAL: “There is pressure for them [when it comes to the extension] since it can leave their partner countries, which are exporting products to them, hanging if they will do nothing.”
“They just have very specific concerns that we were able to address and they were happy about it,” DTI Secretary Alfredo E. Pascual said during a press briefing in Malacañang on Wednesday. “They have seen progress. It’s not as if nothing has happened to address the issues that they are concerned with,” he added. Some European Union lawmakers expressed deep concern on the casualties of the government’s bloody campaign against illegal drugs, which led to the death of at least 6,000 people. Pascual made the pronouncement after he announced last week that the European Commission is now inclined to extend the validity of the existing GSP Regulation until December 31, 2027. “Based on our discussion and also confirmed by their published C A
TOP ASEAN ENVOYS On Tuesday, July 11, 2023, at the Asean Foreign Ministers’ Meeting in Jakarta, Indonesia, the Association of Southeast Asian Nations Foreign Ministers’ Interface With Asean Intergovernmental Commission on Human Rights Representatives took place. Among the attendees were the Philippines’s Foreign Secretary Enrique Manalo, Singapore’s Foreign Minister Vivian Balakrishnan, and Thailand’s Foreign Minister Don Pramudwinai. Notably, the seat reserved for Myanmar remained unoccupied during the meeting.
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LIFELONG LEARNING, JOB CREATION CRUCIAL–NEDA B A E. S J
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NVESTING in lifelong learning and job creation, among others, are necessary to maximize the country’s demographic dividend, according to the National Economic and Development Authority (Neda). In a statement on Wednesday, Neda reported that during a high-level meeting on July 11 for this year’s World Population Day (WPD), Neda Undersecretary Rosemarie G. Edillon discussed how stakeholders can contribute to maximizing the Philippines’s demographic dividend. To align national and local development plans with the ongoing demographic transition, Edillon said the Neda has “outlined
various plans, programs, and policies in the [Philippine Development Plan] PDP that will ensure that all Filipinos have access to social services, opportunities to improve their employability, and social protection.” Edillon stressed that this framework has been cascaded to the regional level. Neda added it is “crucial” to address various challenges arising from the demographic transition at the municipality and city levels. Meanwhile, Socioeconomic Planning Secretary Arsenio M. Balisacan in his keynote speech which was read by Edillon, emphasized that the government places “great importance” on eradicating poverty, promoting lifelong learning and transformative education, provid-
ing accessible health care, ensuring gender equality, and fostering sustainable economic growth. Neda said the United Nations Population Fund (UNFPA) released its annual report, the State of the World Population, to highlight the milestone of global population surpassing the 8-billion mark. In a statement on Wednesday, UNFPA Philippines Country representative Leila Saiji Joudane called on the Philippine government to make the “right investment and policy decisions” in order to reap the benefits of the declining fertility rate in the country. Joudane said that the Philippines is currently at a “unique crossroads” with its changing deC A
Covid-19 insurance claims dip 80%—IC B C U. O @caiordinario
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NSURANCE claims made by Filipinos for Covid-19 shrank by 80 percent as cases declined, according to the Insurance Commission (IC). In a statement, the IC said Covid-19 claims declined to P1.53 billion in the second half of 2022 from P7.65 billion in the same period in 2021. Covid-related claim payouts made by life insurance companies amounted to P987 million, while health maintenance organizations (HMOs) paid out P483 million in
Covid-related claims for the second half of 2022. “Insurance companies and HMOs paid a total of 137,478 claims during the second half of 2022. This is a sharp decline from the number of claims paid during the same period in 2021, which totaled 359,622,” IC said. The number of claims paid during the second half of 2022 matched the decline in the number of Covid-19 cases during the said period. Data from the Department of Health (DOH) indicated that the C A
PESO EXCHANGE RATES US 55.3920 ■ JAPAN 0.3947 ■ UK 71.6219 ■ HK 7.0772 ■ SINGAPORE 41.3096 ■ AUSTRALIA 37.0296 ■ SAUDI ARABIA 14.7677 ■ EU 60.9700 ■ KOREA 0.0429 ■ CHINA 7.6832 Source: BSP (July 12, 2023)