New Trends in the Philippine Market

Ria D. Zita

Various businesses, small and large, have been shaken by the COVID-19 pandemic. Although struggling, these businesses are doing their best to bounce back. Fortunately, in the Philippines, our enterprises’ ecosystem has transformed throughout the years.

In the country, we have ongoing latest trends that prove how small-medium enterprises (SMEs) are adaptable and resilient during times of fast and ever-shifting environments.

This year, some of the latest trends in the Philippine market include social media visibility, special sales, availability of delivery options and excellent customer service.

Social media has been one of the best marketing tools for small businesses. Since the pandemic has forced almost everyone to stay at home, the power of social media in the selling business have become more evident than ever. Small and medium business owners have created business pages on Facebook, where they can easily pick out which demographics in a certain place will be able to see your ads.

Another recent trend is holding special sales. These special sales can be compared to the promos of big shopping malls. These promotions have increased the traffic of consumers to their websites and business owners have utilized the continuing reliance of people to these e-commerce providers.

It wasn’t clear before how marrying the supermarket and e-commerce will flourish but now, they are as relevant as ever. As the social distancing orders were executed, the millions of middle-class Filipinos needed an alternative to getting their necessities. It was a lucky break for supermarket E-commerce players as they were given the perfect opportunity to serve their fellow Filipinos.

The emergence of various logistic services has made it easier for a lot of small business owners to run their operations. They no longer need to worry about fixing their logistics platform or maintaining their delivery vehicles. As more players come in, there will be more choices for small business owners to decide which provider they can use or even to use multiple providers depending on the availability of the riders.

Lastly, providing excellent customer experience would always be crucial in a business to succeed. Having excellent customer experience means showing empathy to consumers and even suppliers. By doing so, these customers come back and continue to patronize a business’ products or services.

These trends have been observed as the key drivers of growth across all industries in the Philippines.

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