Pinoy Paydays: Eating more than shopping. Paying more than buying.6:09:00 PM
MANILA, PHILIPPINES - Payday has often been touted as a time of increased spending power for the Filipino worker. But research reveals that payday is more about food than anything else. In an online survey of 345 respondents, Lazada Market Intelligence discovered that 47.4% of workers spend more on food during payday vs. 41% who spend the same. 26% of respondents spend 50% more and 21% claiming to spend up to twice as much for their payday meals.
The payday meal is deeply ingrained in the Filipino psyche with 55% of respondents reporting that they spend their first paycheck on treating their family to a lunch or dinner, while 37.5% immediately associate any bonus salary to treating their family to a meal. This tradition is so prevalent that 20% of respondents actually dread family and friends asking for a payday “blowout.”
Where do the rest of one’s earnings go? Bills. Bills. Bills. 74% of respondents immediately think of bills to pay every 15th and 30th. 88% of respondents say that bills (electricity, water, phone, rent, credit card) take up the bulk of their salaries. It doesn't help that 54% of respondents have experienced salary deduction due to lateness or absence, reducing their spending power even further.
It also doesn't help that consumer spending is hampered by existing infrastructure. It's tough to get cash and spend it! 40% of respondents consider long lines at the ATM as the biggest hassle during payday. 24% said that payday traffic bothers them most while 15% mention that mall overcrowding is a deterrent to enjoyable paydays.
Meanwhile, internal Lazada data shows that majority of shoppers are females during the 15th and 30th, with the most number of items sold in the health and beauty category. While getting bills out of the way is top priority, people still allocate a little extra for the small ticket essentials to look and feel good about themselves.
In light of more bills and a tougher retail environment, the role of e-commerce now goes beyond just a convenience option - it is emerging as the solution to all limitations Filipinos experience during payday. At Lazada, the marketplace dynamic allows customers to look for best value items without having to go through the ATM lines or the mall crowds. Lazada also offers deferred payment options to give Filipinos more choices on how to manage their hard-earned cash.
And to bring the celebratory feel of payday beyond the payday meal, Lazada is launching its Payday Sale this May 30 to June 2. Customers are expected to be in a shopping frenzy with up to 85% off across a wide assortment of products. Get the best-priced bags, electronic gadgets, accessories, etc. from Lazada’s exciting product category deals and flash sales. A VR Box Virtual Reality 3D Glass for Php 379, a Casio Youth Digital Men’s Stainless Watch for Php 1,099 and an Ace 32” Slim LED TV for Php 5,999 are just some of the must haves this season. Also get a chance to win surprise goodies on the Lazada official Facebook page.
Payday is a time to celebrate! Visit www.lazada.com.ph or download the Lazada mobile app for free.