By Alexander Villafania
MAKATI CITY, METRO MANILA – The country’s population is comprised of 16 percent teenagers (13 years old to 19 years old) or about 15 million – a market that translates to 224 billion pesos in terms of purchasing power.
A new study by the youth research company Teens Research Unlimited (TRU) showed that Filipino youths still remain a viable target for products and services, largely because of the relatively stronger purchasing power coming from parents, who ironically still have to approve their teenagers’ budgets and buying capacity.
The study, titled “The TRU Study: 2011 Philippines Teen Edition”, showed that Filipino teens have learned discernment regarding the type of products they purchase as well as the brands.
Of the 1,000 teenagers interviewed for the study, 60 percent equate brand names with quality. On the other hand, the remaining 40 percent will not necessarily decline an unknown brand if it could meet specific requirements.
One indicator of Filipino youth’s brand discernment is fact that the Filipino-owned clothing line Bench topped the list of favorite brands. Bench was followed by US-brands such as Nike, Adidas, and Jag. Meanwhile, another Filipino company, fast food giant Jollibee came at fifth place as a favorite brand among Filipino youths.
As for technology trends, Filipino teens are most familiar with social networking services (81 percent), multi-player online games (78 percent), online photo sharing (75 percent), PC gaming (7 percent), and smartphones (67 percent).
“Despite the Filipino teens’ having limited budget to spend, low price does not necessarily make any brand a shoo-in for their patronage,” explained Ming Barcelona, TNS Philippines Associate Research Director who is the local point person for TRU.
The TRU study is a great resource for brands and marketing professionals looking to tap the Filipino teen demographic. It provides an understanding of and unparalleled insight into the lives of the Filipino teens.”
TRU is a division of marketing research company TNS.
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