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REDWOOD CITY, California, United States?What an eye opener: Filipinos spend an average of $88.6 billion in goods and services annually and have a median annual income of $76,874, more than 50 percent compared to $50,740 nationwide.
Prof. Antonio Villegas Jr. gave a presentation of the surprising statistics before the media forum ?Get the Inside Track on Marketing to US-Filipino Consumers Forum? held at ABS-CBN?s Redwood City studio.
The Philippine American Press Club-USA (PAPC-USA) spearheaded the event in collaboration with the Asian American Advertising Federation (3AF). It?s a first in presenting a study of Filipino American consumers to advertisers, publishers, and businesses.
The forum sought to gain insights on Asian marketing and find answers to questions like, how can businesses reach their customers and survive during this economic crisis? It also zeroed in on the root of Filipino consumers: Who are Filipinos? Where do they live? What do they buy? Where do they get their news and information?
Esther Chavez, PAPC-USA President and US Director of Sales of INQUIRER.net, noted that a lot of the information on the Filipino American consumer is outdated.
?It?s about time that we straighten the facts from the myths. The FilAm market is a strong consumer base and several mainstream companies who've reached out to us have benefited greatly. Here?s an opportunity for other companies to weather the recession by tapping into the Filipino American market,? said Chavez.
In his presentation entitled ?Demographics, Culture and Behavior,? Villegas, professor at College of Alameda and PAPC-USA board member, listed the following information about the Filipino American market based on data from research done by Phoenix Marketing and Asian American Marketing Report 2009 and US Census Bureau.
* Filipino Americans have the highest employment rate at 68.9 percent compared to 64.8 percent overall nationwide;
* About 63 percent conduct their banking online and 75 percent use the ATM;
* About 68.9 percent of Filipino Americans are employed compared to 64.8 percent nationwide;
* About 5.5 percent of Filipino Americans live below the poverty line compared to 13 percent nationwide;
* McDonalds, Walmart, and Costco are their most popular brands;
* They spend an average of $147 a week on groceries; and
* About 93 percent practice recycling.
The marketing segment presented by Villegas was from a study made by Greg Macabenta of Filipinas Magazine.
More than 80 publishers, advertisers, and business owners thus learned that Filipinos comprise a growing market which is sometimes misunderstood and neglected.
Roger Pang, of Fonemine, an interactive mobile marketing company based in Sunnyvale, California said the forum was a great networking event that was also informative.
?The presentation by Prof. Villegas highlighted a lot of key sales points for a valuable demographic group (Filipino consumers). More programs like this are invaluable to the community, press, and advertisers,? said Pang.
The forum included 10 booths, representing print, radio, television, and online media businesses in the San Francisco Bay Area. Exhibitors ranged from established longtime publishers Philippine News to newcomers such as FilAm Star.
The video-taped forum began with welcoming remarks from ABS-CBN, PAPC-USA, and 3AF and followed by a brief Filipino 101 video presentation?a crash course following the day and life of Filipinos and families, complete with real-life scenarios and unscripted interviews.
Judging from the positive responses, the forum was long overdue. Amidst the economic crisis, with layoffs and company closures continuing to plague mainstream newspapers, forum participants agreed that ethnic media remains strong because of the niche market they serve.
