MANILA - Filipinos are among the most anxious people in the Asia Pacific region about their health and financial security amid the COVID-19 pandemic, according to a survey by consultancy firm Kantar.
Consumers in the Philippines are also worried about a second wave of coronavirus infections even as they are still struggling with the economic impact of the outbreak.
“Unfortunately, with the unique combination of a strict lockdown, which is the longest in the world, and lower spending power, the typical Filipino buyer is the most challenged in Southeast Asia,” said Kantar Insights Division CEO Gary de Ocampo.
Kantar said people are conflicted between staying in or going out, because they are concerned for their safety.
“The biggest barrier to addressing the negative demand shock in most industries is that consumers or customers are afraid,” de Ocampo said.
To allay consumers’ worries, business establishments need to do more than simply announce the reopening of their stores. Businesses need to send “recovery signals” that are compelling and reassuring for their clients, de Ocampo said.
Meanwhile, many Filipinos are looking forward to going back to church, to a physical office, and to visiting barbers and hairdressers.