Category: Economics

𝟮𝟮𝗻𝗱 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗣𝗼𝗹𝗶𝗰𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗠𝗼𝗻𝘁𝗵 (𝗗𝗣𝗥𝗠) 𝗞𝗶𝗰𝗸𝗼𝗳𝗳 𝗙𝗼𝗿𝘂𝗺 𝗮𝗻𝗱 𝗣𝗿𝗲𝘀𝘀 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲: Securing a Future for All by Growing a Resilient Middle Class

The 𝟮𝟮𝗻𝗱 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗣𝗼𝗹𝗶𝗰𝘆 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗠𝗼𝗻𝘁𝗵 (𝗗𝗣𝗥𝗠) 𝗞𝗶𝗰𝗸𝗼𝗳𝗳 𝗙𝗼𝗿𝘂𝗺 𝗮𝗻𝗱 𝗣𝗿𝗲𝘀𝘀 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 was held on September 5, 2024, at Novotel Manila, Cubao, Quezon City, National Capital Region (NCR), Philippines. The theme, “Securing a Future for All by Growing a Resilient Middle Class,” is grounded on the Philippines’ AmBisyon Natin 2040, which envisions “a prosperous middle-class society where no one is poor.” It emphasizes the middle class’ quality of life and their role in promoting the country’s development, according to the Philippine Institute for Development Studies (PIDS), a nonstock, nonprofit government corporation engaged in the conduct of long-term policy-oriented research in the Philippines.

Dr. Jose Ramon Albert, Dr. Roehlano Briones, and Dr. John Paolo Rivera are the DPRM 2024 Scientific Committee member and a panel experts from the National Economic and Development Authority, Konrad-Adenauer-Stiftung Philippines Office, and Asia Society Philippines.

During the forum and press conference, PIDS Senior Research Fellow Dr. Jose Ramon Albert provided key insights from their study “Wealth Creation for Expanding the Middle Class in the Philippines”. He described the middle-class household as typically comprising 3 to 4 members, with a monthly income between PHP 24,060 to PHP 144,360. Mr. Albert emphasized that this segment represented around 39.8% of the population in 2021 and plays a critical role in socioeconomic growth due to their access to higher education and income.

However, Mr. Albert explained that many middle-class households have experienced job losses, reduced incomes, and increased expenditure on education and health. He warned that unless action is taken, these setbacks could hinder the middle class from fully contributing to inclusive growth. To address these concerns, the need for comprehensive strategy to not only expand the middle class but also make it resilient against global megatrends that can exacerbate existing inequalities, according to Mr. Albert.

Dr. Jose Ramon Albert and co-authors PIDS Senior Research Fellows Dr. Roehlano Briones and Dr. John Paolo Rivera suggested a four-pronged approach to achieve a sustainable transformation. This includes promoting social justice in natural resource management and climate action, harnessing new opportunities in trade and investments for MSMEs, ensuring a future-ready workforce and social protection, and improving digital governance and public service delivery.

Meanwhile, Undersecretary Rosemarie Edillon of the National Economic and Development Authority (NEDA), who served as one of the forum’s discussants, identified key investment areas that can help fulfill the aspirations of the middle class. These include housing and urban development, agriculture, manufacturing, connectivity, financial services, and tourism. “We must implement many more strategies so that they can better move up the social ladder,” she stated. Edillon also highlighted the importance of social protection to ensure the welfare and sustained growth of the middle class.

In discussing the broader governance implications, Ms. Daniela Braun, Country Director of the Konrad Adenauer Stiftung, pointed out that good governance is essential in empowering the middle class. “Good governance is not only a worthy goal in itself, but also a means to achieve economic growth,” she said, contrasting the effects of corruption in poorly governed countries with the trust and investment spurred by good governance.

The forum concluded with remarks from Atty. Marco Sardillo III, Executive Director of Asia Society Philippines, who underscored the apparent vulnerability of the middle class, particularly during crises such as the COVID-19 pandemic. “The assumption is that the oligarchs are invested in our politicians, and they look after the poor. It is the middle class that is left to their own devices,” Sardillo noted. He urged both the government and media to raise awareness on middle-class issues, as a more informed population is better equipped to engage in its own development. “If more of us were aware of what is at stake when we talk about the middle class, then maybe we’ll start taking these issues more seriously,” Sardillo said.

Photo Credit: PIDS

The DPRM is held every year in September to promote and draw nationwide awareness on the importance of policy research in formulating evidence-based plans, programs, and policies.

Watch the recording of the kick-off forum here: https://bit.ly/dprmpresscon2024.

Reference & Media Contact:

Philippine Institute for Development Studies

October 27, 2024
NBDB’s PHILIPPINE BOOK FESTIVAL: The Grandest PBF this Year 2024

The National Book Development Board (NBDB)’s Philippine Book Festival (PBF) held on April 25 – 28, 2024 at World Trade Center Metro Manila is one of the grandest PBF this year 2024 entitled “PHILIPPINE BOOK FESTIVAL 2024”, “It’s Not Just A Book Fair, It’s a Book Experience.”

For me, it’s not just a book fair but it’s great art and book experience to witness the authors, publishers, artists, poet, creators, influencers, actors, book lovers and others personalities showing their great support to the Philippine Book Festival 2024. The exhibitors and guests were glad and enjoyed supporting the books, arts and creations related to Philippine literature, culture, entertainment, art, education, poetry and lifestyle in general showcase in the Philippine Book Festival at World Trade Center Metro Manila. They were thrilled to greet and meet their favorite authors, artists, actors, leaders, influencers and other personalities in the PBF 2024.

Senate President Pro Tempore Loren Legarda, Senate of the Philippines, delivered a speech and mentioned of her support of the Philippine Book Festival. She also encourages everyone to support Philippine Book Festival and make it viral as many stories, and she would relish the sight of children going back to reading books, and reading the books written published by Filipino authors and Filipino publishers.

Despite of my schedules related to personal & business activities, I managed to attend the grand opening of the NBDB’s PBF 2024 last April 25, 2024 at World Trade Center Metro Manila. It’s a great book experience with the art of advocacy to support the Philippine Book Festival this day & beyond.

April 28, 2024
Growing Concern: 94% of Metro Manila’s Middle-Class Gen Zs and Millennials Felt the Impact of Inflation in the 2nd Quarter of 2023 – NRI Singapore-Manila Branch

Metro Manila’s middle-class Gen Zs and Millennials have expressed growing concern over the impact of inflation during the second quarter of 2023, according to a survey conducted by the Nomura Research Institute (NRI) Singapore-Manila Branch. The survey, which was conducted from May to June, revealed that a staggering 94% of respondents felt the effects of inflation during this period.

The rising costs of essential goods and services, such as food, transportation, fuel, and utilities, have forced these young adults to make cuts in their non-essential spending, including leisure and entertainment expenses. Among the respondents, 60% reported that the continuous price increases had the greatest impact on their food and beverage expenses, followed by transportation and fuel costs at 15%, and utilities, such as electricity, water, and internet bills, at 14%. Additionally, an overwhelming 83% of participants stated that they had reduced their spending on non-essential goods, while 79% found it necessary to cut back on leisure and entertainment expenses.

The survey also highlighted the financial challenges faced by this demographic. Approximately one-third of respondents (32%) reported being unable to save over the past 6 to 12 months. For those who managed to save, 44% saved a lower percentage of their income. The persistent inflationary pressures have led 38% of respondents to adjust their savings goals by either reducing the target amount or delaying their timelines. Similarly, 47% of participants had to make similar adjustments to their savings plans.

To cope with the financial strain, a significant number of respondents have turned to loans. Of the surveyed individuals, 71% reported having outstanding loans. In an attempt to augment their incomes, 43% of respondents resorted to taking out additional loans in the past year. Among those who already had loans, 58% had to cut back on other expenses to meet their loan obligations, while 19% were forced to delay payments. The survey also revealed that 41% of respondents possessed credit cards. Personal loans were the most prevalent type of loan, accounting for 30% of respondents, followed by alternative installment loans and salary loans, each representing 19% respectively.

Regarding investments, 52% of respondents had existing investment portfolios. Among these, mutual funds and stocks were the top investment products, chosen by 18% of participants each. However, due to the inflationary pressures, 12% of respondents had to partially liquidate their holdings for increased liquidity, and a minimal 1% sold off their entire investment portfolio.

Given the challenges posed by inflation, respondents have adopted a diverse array of coping strategies. A notable 94% expressed concerns that continuous price increases would persist over the next 6 to 12 months. Consequently, 91% of participants felt the need to explore additional income streams. To adjust to the current economic situation, 86% of respondents planned to continue cutting back on expenses, while 73% intended to reduce their spending on entertainment and leisure activities.

In terms of savings, 34% of participants expressed plans to increase their savings allocations to better prepare for the future, while 33% aimed to maintain their current savings pattern. However, 16% of respondents planned to reduce their monthly savings allocation due to inflationary pressures.

The survey also shed light on borrowing habits, with 46% of respondents indicating that they were less likely to take out loans, while 28% stated they were more likely to acquire additional loans.

Regarding investments, 12% expressed a desire to explore risky investments in the hopes of achieving high returns over the next 6 to 12 months. Meanwhile, 40% were considering more conservative options. Notably, 30% stated that they would choose to stay away from investing altogether, while 18% aimed to maintain liquidity.

The online survey conducted by the NRI Singapore-Manila Branch included 295 adults from Metro Manila, consisting of 92 Gen Zs and 203 Millennials from the middle-class. The participants had monthly individual income ranges of PHP 13,000 to PHP 41,000 and PHP 41,001 to PHP 163,000.

As inflation continues to impact the daily lives and financial well-being of Metro Manila’s middle-class Gen Zs and Millennials, it is clear that they are actively seeking ways to navigate these challenges and secure their financial futures.

REFERENCE:

Lariza Garcia

July 22, 2023
Users Can Show their Appreciation For MSMEs Through ‘#TatakPinoy: Shopee Celebrates Local’

Users can now vote for their preferred local sellers and win prizes.

Shopee, the leading e-commerce platform in Southeast Asia, and Taiwan, continues to support local sellers and uplift the digital economy with the launch of the #TatakPinoy: Shopee Celebrates Local contest. From November 19 to December 5 2021, users can vote for and support their favorite sellers in time for the 12.12 Big Christmas Sale.

#TatakPinoy: Shopee Celebrates Local recognizes 12 Filipino sellers who offer locally made products and their inspiring journeys to success with Shopee. Besides having to source and offer goods that are proudly Pinoy, the brand also shortlisted these entrepreneurs, who come from various categories such as lifestyle, fashion, and FMCG, based on shop ratings and number of reviews.

Martin Yu, Director at Shopee Philippines, said, “As we rebound from the impact of the pandemic, we want to strengthen our efforts in aiding economic recovery. Supporting local sellers is a very impactful way to do that, and we want to rally our users to support these sellers as well. This is what Shopee Supports Local is for — highlighting the local sellers in our platform, and giving our shoppers the opportunity to show their appreciation as well.”

Supporting Local Sellers, Key to Aiding Economic Recovery

With the pandemic driving consumers to rely more on e-commerce platforms for their needs, more brands and sellers continue to embrace digitalization to sustain their livelihoods. Recently, the Philippines saw an increase of 12 million new digital consumers since the start of the pandemic, of which 63% are from non-metro areas^[1]. Shopee continues to improve the platform to support micro, small, and medium enterprises (MSMEs) catering to the needs of the Filipinos.

The top three sellers, based on total user votes, will win gadget prizes that are useful for their online business. On top of that, theirs and a few other shortlisted sellers’ inspiring stories and sought-after products will be featured on Shopee Live on December 8 and 11.

Meanwhile, users who will participate in voting and share why they love their chosen seller on social media will have the chance to win special vouchers.

Getting to Know the 12 Sellers

Indianajanemnl

Launched in 2019, Jess opened a clothing store, Indianajanemnl, and went from a one-man shop and grew into a 30-person team this 2021. With the desire to build deeper connections with their consumers, she maximized Shopee Live and all its features. Through Shopee Live, she received customer feedback which helped them improve the store.

Chelssydresstaytay.ph

Considered as one of the pioneer stores in the well-known Taytay Tiangge, Rochelle of Chelssydresstaytay.ph decided to shift to online a few months before the pandemic hit. It proved to be a good move, with the shop hitting its targets consistently.

Luxeessential

As a form of self-care, Hani of Luxe Essential decided to put up an online store where she can earn while staying at home. Despite the ups and downs of online selling, her determination eventually paid off, and can now support not only her family but her staff’s family as well.

Uniq.mnl

Uniq.mnl is owned by Ireen and Ira, two sisters who combined their stores into one. Transitioning wasn’t easy and they worked hard to maintain customer satisfaction by utilizing Shopee’s in-app tools. With clear goals, the shop ended 2020 with an 8-figure gross profit.

Orangeandpeach

Orange and Peach Philippines is a 100% Filipino Mom and Baby Essentials Store owned by Jasslyn. She struggled to convert sales due to some limitations but even with the setback, it didn’t stop her from trying, and eventually gained the consumers’ trust.

Randashoesofficial

Randashoesofficial started as a small shoe manufacturing facility in 2014 and Ric joined Shopee as a seller in 2019, making it a full-time commitment. The challenges pushed him to do better and are now growing on the platform – even surpassing their previous sales.

Mightyclean

Wanting to share their expertise in the homecare industry, Mico from Mightyclean started his Shopee Seller journey during the height of the pandemic last year. Even though he had become one of the best-selling brands on the platform, he never stopped learning new things and continued to sharpen his entrepreneurial skills.

Dnemnlph

Dana of dnemnlph started selling online when she was in high school and has had her fair share of ups and downs before she first joined Shopee in 2015. Despite having to close her shop temporarily, she stepped up and worked with her Shopee Relationship Manager to learn how to build brand awareness for her store. To date, she has more than 225,000 shop followers.

Localidad.ph

Daniel of Localidad began his Shopee journey last year and got his break in November 2020. His experience on Shopee was a great opportunity to learn about e-commerce in general and eventually succeed in the industry, with more than 60,000 products sold and counting.

Emsalvadorpunzalan

Em used the power of technology to offer a wide array of DIY car care detailing products through her shop Prestige Trading. As a former saleswoman, the main proprietor found joy in interacting and connecting with their customers.

Gratitudebar

Faced with a financial crisis in 2017, Ces of gratitudebar launched her Shopee store which offers skincare products that are simple, affordable, and effective. With the use of in-app features, the brand gained more loyal customers.

Mareclothingph

When Zel started selling on Shopee, she knew it was a learning journey and discovered a lot of new things. Now, she has a strong customer base and feels grateful for the overwhelming support and trust from her loyal customers.

To know more and vote for your favorite sellers in #TatakPinoy: Shopee Celebrates Local, visit https://shopee.ph/m/tatak-pinoy.

^[1] e-Conomy Sea 2021 – Roaring 20s: The SEA Digital Decade

REFERENCE:

Pao Oga

Shopee | Marketing | Public Relations (Media Relations)

Mobile: +63 917 650 1835 (Viber/Whatsapp)

Address: 15F Asian Century Center (ACC) Building, 27th St. Corner 3rd Ave. BGC, Taguig 1634

November 19, 2021
Mayor Vico Sotto and other local and international innovators joins 57th PMAP Annual Conference

The young and innovative Pasig City Mayor Vico Sotto, who rocked the local political scene with his creative and pro-people leadership style, will be one of the plenary speakers of the upcoming 57thAnnual Conference of the People Management Association of the Philippines (PMAP) this coming October 21-23, 2020.

PMAP, the preeminent organization of people managers and HR practitioners founded in 1956, continues to push for a national people-first strategy in addressing human capital management issues especially during these difficult times. During the 3-day virtual conference, global and local experts and leaders were invited to showcase relevant and timely presentations anchored on the conference theme “Sharp Focus. Future-Ready.”

Sotto will deliver a talk entitled “Building a Culture of Trust in the Era of Disruption” on Day 3 of the conference. This is expected to complement the opening keynote speech of Mr. Peter Cheese, Chief Executive, Chartered Institute of Personnel and Development (CIPD) on Day 1 who will present “Developing a Resilient Workforce to Thrive in Uncertainty.”

Day 2 of the conference will feature sixteen (16) concurrent sessions where attendees can customize their learning experience by choosing four topics they want to attend under the categories Developing Digital Leaders, Innovations, Outside-In HR and Advocacy sessions.

Some of the notable speakers this year includes Ms. Annela Heytens, Head of HR of Amazon Web Services; Mr. Bobby Castro, President & CEO of Palawan Pawnshop & Palawan Express Padala; Mr. Kais Marzouki, Chairman and CEO, Nestle Philippines; Dr. Ramon Segismundo, CEO and Founder of 1-HR.X; and other well-respected leaders from both the private and public sector.

Spearheaded by PMAP’s Conference Chairperson, PMAP Vice President Lin Mukhi, the conference’ discussion will sharply focus on how to future-proof organizations in the digital age, creating an agile talent management and development, HR Innovations, ethics and HR governance, deepening HR competencies, employment relations and social protection.

To be part of the conference, you may email kevin.jacinto@pmap.org.ph or carol.alcances@pmap.org.ph or visit www.pmap.org.ph and www.facebook.com/PMAP1956.

REFERENCE:

Richard Mamuyac

October 10, 2020
Shopee Powers Growth for Filipino Brands and Sellers with Enhanced Warehouse and Logistics Capabilities

Shopee offers a full range of warehouse and fulfillment support to help brands and sellers meet increased demand and to grow their e-commerce business

Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, steps up its logistics preparations to help brands and sellers meet the increased online demand in the peak year-end shopping season.

As e-commerce in the region continues to flourish, there is a higher demand for quicker and secure deliveries for online purchases. Shopee offers a robust logistics ecosystem to help brands and sellers meet evolving consumer needs. This year-end shopping season, Shopee commits to strengthening its warehouse and fulfillment support for brands and sellers, enabling them to increase sales and maximize customer satisfaction even as online shopping activity peaks.

Martin Yu, Associate Director at Shopee Philippines, said, “Quality and reliable logistics are integral to the online shopping experience. As consumers turn to and rely more on e-commerce, businesses aim to deliver more quickly and efficiently to remain competitive. With this, Shopee has built up a robust logistics ecosystem designed for quality, reliable, and scalable deliveries. We want to simplify logistics for brands and sellers by providing them with solutions that support their business needs. The initiative helps them attract more customers, increase sales, and grow their e-commerce business in the long-term.”

Optimized warehouse and inventory support

Shopee has an optimized network of warehouses that form the backbone of its logistics networks in Southeast Asia and Taiwan. They are integrated with the Shopee platform and leverages data to help brands and sellers ship out orders more efficiently.

In the Philippines, its purpose-built Warehouse Management System (WMS) uses data to make smart recommendations to trained warehouse teams, allowing increased efficiency from product picking to dispatching. The WMS uses data to forecast demand ahead of peak shopping periods so that brands and sellers can better allocate their resources. These services help brands and sellers to optimize their inventories and ship out parcels more efficiently, which translates to increased customer satisfaction and drives business growth.

Offering quality, reliable, and scalable deliveries

Shopee has over 100 logistics partners in the region who are highly familiar with local landscapes and provide quality services tailored for consumer needs. Brands and sellers on Shopee can tap on their reliable expertise and extensive coverage to reach customers.

Shopee also has its own Shopee Xpress fleet that specializes in e-commerce deliveries. It provides additional capacity and flexibility for Shopee to scale delivery operations during busy periods, allowing sellers and brands to ship quickly and reliably out parcels during peak shopping seasons.

Shopee’s logistics partners and its own Shopee Xpress fleet are closely integrated with its platform and warehouses. It means that sellers and brands have access to quality and reliable logistics support all year round and can easily manage and track shipments on Shopee.

Driving long-term e-commerce growth for brands and sellers

Shopee’s logistics ecosystem allows sellers and brands to grow their e-commerce business with confidence. Supported by quality, reliable, and scalable logistics on Shopee, brands, and sellers can focus their attention on other vital areas of their business, such as optimizing their product assortment, marketing, and sales.

Shopee’s robust logistics support has enabled sellers and brands to scale their e-commerce business effectively. Across the region, sellers and brands who use Shopee’s warehouse services sell more and ship up to 4 times more parcels than before. It shows how Shopee allows sellers and brands to deliver with higher speed, reliability, and efficiency.

Shopee also enabled sellers and brands to scale their delivery operations in times of peak demand. In the Philippines, the Covid-19 pandemic increased the online demand for Home & Living, Food & Beverages, and Fashion categories. Sellers and brands offering these items on Shopee were able to ship more parcels during this time, allowing them to meet their customers’ needs and grow their e-commerce business.

Yu closed, “As the year-end shopping season arrives, Shopee will continue to strengthen its logistics support and maximize growth for sellers and brands. For users, they can look forward to greater value with exclusive free shipping promotions from our trusted logistics partners across the Philippines. In line with our vision to power the future of retail, we will keep evolving our logistics ecosystem so that our users, sellers, and brands can unlock the full potential of e-commerce in the months and years ahead.”

Download the Shopee app for free via the App Store or Google Play.

REFERENCE:

Catherine Llanes

Media Relations Manager

T. +63 2-332-10-31 loc. 103

M2COMMS | M2SOCIAL | M2LIVE | PROI

August 28, 2020
Enderun Colleges to host webinar on investment opportunities in times of crisis

During these unprecedented times, it is important to be equipped with economic and financial knowledge to acquire optimal coping measures and practices relevant to the “new normal” lifestyle setup

Enderun Extension, the continuing education arm of Enderun Colleges, conducts its first online investment conference entitled, “Investment Opportunities in Times of Crisis: Bracing for the Economic Impact of COVID-19”. The online conference aims to provide participants with insights, context, and strategies to help themselves adjust to the impending economic effects following the global pandemic. The webinar will be on April 29, 2020, 3pm and will be held via Big Marker.

Enderun invites Jonathan Ravelas, Chief Market Strategist of BDO Unibank, to discuss and present valuable insights pertaining to the expected challenges, changes in market behavior, and anticipated risks in a post-COVID-19 world. Jonathan is a seasoned financial professional with the ability to provide timely market commentaries and outlook on the global financial markets and macroeconomic developments in both local and foreign economies.

The online conference is suited for individual investors, entrepreneurs, owners of SMEs, employees, and freelancers. The webinar is free of charge.

To register, please visit https://www.bigmarker.com/enderun-colleges/InvestmentOpportunities.

About Enderun Colleges

Enderun is a four-year undergraduate college and management school in the Philippines that offers a full range of bachelor’s degree and non-degree courses in the fields of international hospitality management and business administration.

Enderun is committed to the highest international standards of academic excellence. Students receive professional training from leading figures in the global business and hospitality industries. The faculty that oversees Enderun’s curriculum includes some of the region’s leading academics and industry experts. Even Enderun’s campus facilities, which feature hotel-quality appointments and integrated cutting-edge learning technologies, are in a class of their own.

The Enderun approach to education is unique, and highly differentiated. As a management school it prepares students for leadership positions in the global business environment. Enderun students work closely with faculty mentors, who are themselves industry experts and professionals. Students also gain priceless real-world experience from intensive work internships both in the Philippines and abroad.

Enderun aims to graduate students with the academic training, professional competencies, and character required for success in today′s complex world, by offering international-caliber degree programs that combine management theory and practical experience in a values-rich learning environment.

About Enderun Extension

Enderun Extension is Enderun Colleges’ resource for continuing education. The Enderun Extension School offers an open and comprehensive curriculum with courses and programs to meet the interests and needs of a diverse public.

For those who want a competitive edge in the international job market, Enderun offers certificate programs in the fields of culinary, pastry arts, hospitality management, business administration, entrepreneurship and economics. The certificate programs will help you enhance and stand out in your current role, advance in your career, or change careers completely.

Enderun Extension also offers a variety of workshops, short courses and conferences. The school also offers courses for children who are budding chefs, hoteliers, engineers or entrepreneurs. Whether you are a foodie, a working professional or an entrepreneur, Enderun Extension invites you to explore its different short courses.

Reference & Media Contact:

Hyacinth Anne Uri

PR and Events Assistant Manager

Enderun Colleges

1100 Campus Avenue, McKinley Hill, Fort Bonifacio, Taguig City 1634 Philippines

Telephone: (+632) 8856 5000

Mobile: (+63) 917 243 5704

E-mail: hyacinth.uri@enderuncolleges.com

Website: www.enderuncolleges.com

April 25, 2020

8 out of 10 SMEs in Philippines see Digital Technologies Improving Business Performance and Customer Experience

Epson survey highlights state of adoption, transformation focus for Filipino SMEs.

According to a new survey commissioned by leading printing solutions provider Epson, more than eight out of 10 (86%) small and medium-sized enterprises (SMEs) in the Philippines identified digital technology adoption as the way to improve business processes, especially customer experience. SMEs in the country shared this belief more than other respondents in the region, second only to Indonesia. Across the region, over half of respondents (55%) reported being at the very early stages of digital transformation.

The survey titled, “SMEs striving for Digital Transformation amidst many hurdles,” captured the perspectives of more than 800 SME decision-makers in the six largest Association of Southeast Asian Nations (ASEAN) countries by GDP, including 154 respondents in the Philippines. It captured respondents’ perspectives on technology adoption, the maturity stage of digital transformation efforts and the challenges facing these businesses.

“This survey highlights the tremendous interest that SMEs in the Philippines have in using technology to improve business functions, especially in areas impacting the customer,” said Eduardo Bonoan, Epson Philippines General Manager for Marketing. “Although SMEs in the country have generally begun to adopt digital technologies, more work is needed to help and encourage these companies to extend digital technologies further beyond customer-facing areas of the business.”

Transformation initiatives focused on the customer

Nearly three quarters (74%) of Filipino respondents have embarked on the digital transformation journey and have mainly focused these efforts in the marketing and sales as well as customer interaction and servicing portions of their businesses.

In the retail sector specifically, 31 percent of Filipino SMEs in the retail, food and beverage (F&B) and hospitality sectors have deployed mobile projectors over interactive models, which can be used in malls and other environments to attract and deliver a superior customer experience.

SMEs in the Philippines are also moving closer to tracking and making decisions based on information available in real time. More than half (56%) of respondents reported being able to do this in the Philippines while another 51 percent noted that their organisation can make quick decisions across departments and business processes on most occasions – outpacing their regional counterparts.

Impediments to technology deployment

Despite this enthusiasm for digital transformation, respondents in the Philippines across industry sectors agreed that the upfront cost of new tools and technology, and the perception that replacing old processes and systems would be too difficult, were barriers to adopting new technologies.

Overall, respondents indicated a preference for products that were more reliable, performed at a consistently high quality and connected seamlessly with back-end systems. However, about three out of four Filipino respondents (76%) also considered the environment when making printer purchases. This consideration was higher than the regional average of 69 percent.

“In order for digital transformation to reach maturity in the Philippines, SMEs need greater awareness of the total cost of ownership beyond the initial investment,” Eduardo Bonoan, Epson Philippines General Manager for Marketing. “With access to information and industry support, SMEs can overcome the perception that deploying new technology is beyond them.”

Environment to play a big part in technology adoption

It is also notable that Filipino SMEs are sensitive to environmental issues. When choosing a printing solution, over two thirds (76%) consider the impact on the environment, and 78 percent are mindful of the effect of heat and dust particles on the health of their staff.

“We are committed to sustainability and showcasing innovations that help customers reduce their impact on the environment, such as heat-free printing solutions, and support SMEs with solutions that meet their business and productivity needs,” Eduardo Bonoan, Epson Philippines General Manager for Marketing.

Fostering digital transformation today requires more than the adoption of new technologies. It means creating environments where businesses can leverage innovation to deliver meaningful change that drives positive business outcomes. With SMEs at the heart of the economy, they need to be empowered with the right tools to tackle the next steps towards being a sustainable business.”

About the Epson SME Digital Transformation in ASEAN survey

The Epson-commissioned survey was administered by Intuit Research. It collected the perspectives of 864 respondents operating small and medium-sized enterprises (SMEs) in the six largest Association of Southeast Asian Nations (ASEAN) economies by Gross Domestic Product (GDP). More than 80 percent of the respondents were either business owners, key decision-makers, decision influencers or senior managers within their respective organisations, which spanned the manufacturing, corporate, retail, food and beverage (F&B) and hospitality, engineering, architecture and textile sectors. To download the full report, visit: https://.epson.com.ph/digital-transformation

About Epson

Epson is a global technology leader dedicated to becoming indispensable to society by connecting people, things and information with its original efficient, compact and precision technologies. The company is focused on driving innovations and exceeding customer expectations in inkjet, visual communications, wearables and robotics. Epson is proud of its contributions to realizing a sustainable society and its ongoing efforts to realizing the United Nations’ Sustainable Development Goals.

Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than US$10 billion.

global.epson.com

About Epson Singapore

Since 1982, Epson has developed a strong presence across major markets in Southeast Asia and South Asia. Led by the regional headquarters Epson Singapore, Epson’s business in Southeast Asia spans an extensive network of 11 countries with a comprehensive infrastructure of close to 500 service outlets, 7 Epson solution centres and 7 manufacturing facilities.

http://www.epson.com.sg

About Epson Philippines

Epson’s corporate presence in the Philippines commenced in 1998. It grew rapidly into a billion-peso company in a span of a few years from its establishment due to its client-oriented approach in its business management style by its dedicated and innovative staff members and officers. Epson Philippines has an extensive network of 77 Authorized Service Centers nationwide with more than 200 dealers and more than 800 shops across the Country. For more details, please visit our website (www.epson.com.ph) or our Facebook page (http://www.facebook.com/EpsonPhilippines).

For product inquiries and technical support, please contact Epson Customer Care at: Metro Manila: (02) 8441-9030; Toll Free: 1-800-1069-37766 (PLDT), 1-800-3-0037766 (DIGITEL) or visit the Epson Customer Care website: http://epson.com.ph/contact.

Reference & Media Enquiries:

Media Contacts For Epson Philippines: Camille S. Intal PR Specialist Email: camillei@epc.epson.com.ph

For PRC, Inc.:
Alvin Marayan Media Relations Director Email: alvin.marayan@teamprcinc.com.ph

April 11, 2020