99% Of Millennials In The Philippines Said That Purchasing Pre-Owned Items Is More Sustainable, According To New Research By IAB SEA+India And Carousell Media Group

MANILA, PHILIPPINES – Media OutReach – 13 July 2021 -
According to a new report published by Carousell Media Group (CMG) and IAB
Southeast Asia and India (IAB SEA+India), a vast majority (99%) of Millennials
in the Philippines felt that purchasing pre-owned items is more
sustainable. 

The report on the Millennial Motivations and Buying Behaviours Online across Southeast
Asia and Hong Kong, conducted across five Carousell Group’s markets -
Singapore, Hong Kong, Philippines, Malaysia (for both Carousell and Mudah.my
platforms) and Vietnam (Cho Tot) with over 3,500 of its respondents, also
uncovered that the global trend of recommerce – or the buying and selling of
pre-owned items – is accelerating in this part of the world.

“Across all the local market research what was
consistently obvious is that we are witnessing the explosive growth of
recommerce as it feeds two key needs of consumers today; the demand for
sustainability and the hunt for a good deal. This juncture of ethics and
eCommerce creates fertile ground for retail media because of the
interplay among customer data, closed-loop reporting, and real-world results
that generate more and better data.” Miranda Dimopoulos, Regional CEO, IAB SEA+India
said.

The research uncovered that Millennials in
Southeast Asia and Hong Kong were driving this explosive growth. In the survey,
84% of under 35s in the Philippines said that they sold their pre-owned items
because it is better for the environment to sell their items than dispose of
them. The Philippines ranked this as the most important reason, as compared to
the other markets.

JJ Eastwood, Managing
Director, CMG shared “Recommerce has become synonymous  with sustainability and this research
demonstrates how important this has become to young people across the region.
As we see users spending more on high-value products like luxury, and cars in
the Philippines, we also see them being increasingly conscious of where they
spend their money. This presents a unique opportunity for brands to win the
hearts and minds of this core consumer segment around issues they care deeply
about.” 

This regional research
establishes the audience profile in each market then explores income and
spending habits, how the audience spends their time online, and offline,
motivations to use buy-and-sell marketplaces as well as attitudes towards
sustainability in relation to their purchasing habits. The report further
deep-dives into some interesting local market insights.

Some key findings from the regional survey
include:                                                          

• 95% of Millennials felt that
  purchasing pre-owned items is more sustainable with 50% feeling strongly about
  this. For the Philippines, it was higher at 99%.
• Millennials overall, also cared
  more about social issues such as sustainability, social responsibility and
  climate change in comparison to over 35s.       
• The Philippines ranked higher than
  the regional averages when it came to sustainability considerations being
  factored in by respondents when they were selling an item. 84% of the
  respondents said that they use platforms like Carousell to sell products, with
  the intent of upgrading to something else, and because it is better for the
  environment to sell the item rather than dispose of it. 
• In the majority of markets, both
  those under 35 and over 35 are equally motivated to use the platform as the
  environmental impact is lesser when purchasing a pre-owned item.
• Over 35s are significantly more
  motivated by promotions and sales when it comes to purchasing a luxury item
  whereas under 35s will save for a particular item.
• Gaming, Mobile, Gadgets or Accessories is the
  top category in Electronic Items, followed by Computer Accessories and Home
  & Kitchen Appliances; these are all categories that facilitate
  entertainment, communication, virtual working and cooking as respondents spent
  more time at home due to COVID-19.
• Asian platforms dominate the
  competitor landscape against similar Western platforms such as Amazon.

“This research captures a
highly engaged millennial audience who are in the browsing and buying mindset,
motivated by a great deal and their belief that purchasing pre-owned is more
sustainable. In addition, when we took a closer look at the Luxury Category, we
found that half of all respondents bought luxury items in the past 12 months.
Singapore, Carousell Malaysia and Hong Kong are above the purchasing average; despite being in the midst of a global economic slowdown.
This signals the rise of an aspirational consumer class.” JJ Eastwood revealed.

For full access to the local market reports
and to discuss retail media opportunities with Carousell Media Group in more
detail, email at mediagroup@thecarousell.com.  Any research questions or feedback can be
sent to hello@iabseaindia.com.