Filipinos Will Be Self-Gifting This Holiday Season, According to Study
Practicing self-care has become a necessity during a pandemic. While some meditate and do yoga, there are a handful of people who make themselves feel good with gifts—so much so that a new study says Filipino intend to give themselves gifts for the holidays.
According to Facebook's IQ Research, that's exactly what merchants should expect in the coming months as people try to reward themselves in such a difficult and stressful time.
“The pandemic has shifted people’s priorities, and understandably also their plans for the year. As we tread into the ‘next normal,’ we foresee these changes are likely to have lasting impact on brands and businesses,” says Facebook Philippines country director John Rubio.
In other parts of the world, self-treating has also become common practice with consumers looking for low-ticket luxuries such as grooming items and affordable designer products. The phenomenon has been compared to the lipstick effect, which is a theory that says consumers will buy less costly luxury goods during an economic crisis.
While retail therapy can give one instant gratification, it's not a fit replacement for real self-care methods such as taking breaks, eating well, and more.