Best-value offer top of consumers’ choice

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By: Business Mirror

DUE to inflationary issues, more Filipinos are turning to brands and retailers that offer value for money, convenience and product assortment when it comes to their fast moving consumer good (FMCG) needs, a top executive of Kantar said on Tuesday.

“Shoppers don’t really have much of a choice but to absorb inflation because these basic pantry staples—sugar, cooking oil, LPG [or liquefied petroleum gas, etc.—they] actually buy them because they comprise their basic [necessities],” Laurice Obana, shopper insight director at the Worldpanel Division of Kantar in the Philippines, told reporters in a webinar.

Based on their data as of September 11, 2022 versus a year ago, the average inflation rate on FMCG in the country is 9.8 percent. Among the product categories, the price of sugar has increased at 44.3 percent; cooking oil, 39.6 percent; LPG, 29.7 percent; meal flavorings, 17.3 percent; chicken, 16.3 percent; catsup, 15.4 percent; growing-up

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