Synergy study highlights Filipinos’ financial situation

by Back End News| May 18, 2023

A study conducted by Synergy Marketing Research + Strategic Consultancy revealed that 51% of Filipinos have just enough to meet their financial needs, while over a third (36%) find it difficult to do so based on their monthly earnings alone.

Although this figure has improved since January of this year when it was at 38%, it remains higher than the 31% recorded in June 2022. This study titled “Finding Certainty in Uncertainties: (New) Consumer Insights & Trends for Brand Growth” emphasizes the need for companies to seek innovative solutions to foster inclusiveness and ensure the participation of all Filipinos in the Philippines’ economic recovery process.

These findings were revealed during the “Market(In) Sights” event held recently. The research conducted by Synergy-YouGov from January to April of this year covered the current consumer sentiments, coping behavior and purchase considerations, sustainability, brand purpose, technology, media, social media influencers, and more.

YouGov partnership

Synergy also renewed and relaunched its YouGov, an international research and data analytics company based in the United Kingdom to provide businesses with evidence-based strategies through research.

Synergy also facilitates conversations between brands and customers to drive engagement and build brand trust. Elevating brand purpose has emerged as a key differentiator for companies’ future growth, and Synergy has been actively involved in conferences, webinars, and collaborative projects during and prior to the pandemic as a way of giving back to the marketing and business communities.

Market(In) Sights was made possible with the support of Newport World Resorts as the co-presenter and EDIMC as the event partner.