Looking Forward to 2011

Manila Bulletin, January 2, 2011 | Go to article overview

Looking Forward to 2011


MANILA, Philippines - Industry leaders give their forecasts on trends and prospects for the New Year.Siddik TetikGeneral Manager, Procter & Gamble PhilippinesThe coming year continues to look positive for the country and for businesses, including the manufacturing and FMCG (Fast Moving Consumer Goods) industry. This is due in part to the new administration and the economic confidence that it generates. They have expressed their position on helping businesses progress more quickly versus previous years, establishing strong private-public partnerships, inviting further investments in the country, and building infrastructure to support the growth and progress.In the FMCG industry, I would highlight Digitization as a strong trend that will continue to change even other industries in the coming year. It is fast becoming an essential part of how organizations must operate versus in previous years when it was once an afterthought or a nice-to-have element in marketing and operations. The digital revolution has changed the way every person and business operates. It has broken geographical barriers and opened new possibilities, created a new dynamic for brand and consumer interaction, and even shifted influence and opinion from the hands of a few to millions of consumers globally. It will not be surprising to see even more innovation in the industry due to digitization. This trend shows no signs of slowing down. This means that as operations will gradually shift into real-time mode, businesses must react to changes more quickly and they will need to improve on how they will answer consumers' needs daily.Jacky QuintosCOO, Primer Group of CompaniesI would like to look at this on the aspect of the buying public, the economy and the kind of product people would probably purchase in 2011.The Buying public: The increase of income, quality and quantity of our OFWs will mean that the Middle B purchasing power will increase tremendously. This means that they will most likely be able to afford purchasing items (footwear, apparel, accessories) in the vicinity of R1,000 to R3,000. This also means that they will not only frequent malls to do window shopping and enjoy the comforts of walking around in an airconditioned area, but purchase items they perceive as value for money.The Economy: As economists have forecasted, the economy will continue to prosper under the Aquino administration, as long as Noynoy continues to enjoy a positive rating and confidence in him amongst Filipinos remain on the high side. Combining this with the first scenario above, results in a very promising 2011 for most retailers.Products: Relatively simple formula here. Any product whose price range is between R1,000 to R3,000, plus the perception of (it) being a high-end consumer product (will succeed).Derek CallowHead of Marketing, Google Southeast AsiaGoogle engineers are focused on continuously and rapidly improving our various products, from Google Search to Gmail, to Google Maps. The improvements are intended to provide a seamless online experience for the public. We are particularly looking forward to seeing increased usage of our browser, Google Chrome, which has already gained a lot of momentum in 2010 in the Philippines. The country has the highest Chrome market share of any country in the world, which demonstrates how more and more Filipinos are living their lives online-whether it's watching videos, sharing photos, writing on blogs, listening to music, and much more.Lorenzo ChanPresident and CEO, Pioneer LifeAs the question refers to trends or prospects, my reply for the life insurance industry will be three items-a continuing shift towards investment linked products, the ability to address the demand for affordable health coverages, and the evolution of what we term bite-sized sachet insurance. By this, we mean coverages that are easy to understand, quick to settle and priced within reach of the greater majority of the mass market.But if I could include my wishes-these will involve an open mind to new concepts and approaches and a better appreciation for the role played by life insurance in nation-building.

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