BusinessMirror April 22, 2022

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ROTARY CLUB OF MANILA JOURNALISM AWARDS ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2006 National Newspaper of the Year 2011 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Patria Award 2021 ProPro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

BusinessMirror Abroader broaderlook lookat attoday’s today’sbusiness business A broader look at today’s business A

EJAP JOURNALISM AWARDS EJAP JOURNALISM AWARDS

BUSINESSNEWS NEWS BUSINESS SOURCEOFOFTHE THEYEAR YEAR SOURCE

(2017, 2018, 2019, 2020) (2017, 2018, 2019, 2020)

DEPARTMENT SCIENCE AND TECHNOLOGY DEPARTMENT OF OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS 2018 BANTOG MEDIA AWARDS

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Sunday, December 2021 Vol. No.5858 Friday,December April 22, 2022 Vol. 17 No.1717 194 Sunday, 5,5,2021 Vol. No.

P25.00nationwide nationwide|||222sections sections12 12pages pages|||777DAYS DAYSAaAWEEK WEEK P25.00 nationwide sections 26 pages days week P25.00

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‘DIGITAL DIASPORA’ By Ditas Lopez & Cecilia Yap

IF YOU WANT TO GO ABROAD, Online shopping platform notes behavioral shift Online shopping platform notes behavioral shift HE Philippines is watching the BETTER GET VAXXED–WTTC pace ofconsumers, the Federal Reserve’s among consumers, brandmakers makers amid Covid among brand amid Covid

monetary policy normalization as it weighs the timingCayon of its own ByManuel ManuelT.T.Cayon By interest-rate move, according to the AVAO CITY—A leading AVAO CITY—A leading nation’s finance chief and a central onlinebrand brandretailer retailerin inAsia Asia online bank rate-setter.

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See “Philippines,” A2 seeingaasharp sharpbehavioral behavioral isisseeing shiftamong among consumers consumersand andbrand brand shift makersthat that mayreinvent reinventand and innovate makers may innovate Deficit with China hits $15.2B, approaches,especially especiallyfrom fromthe thelatter, latter, approaches, asdata data analytics—since thetrade onsetof ofgap the as analytics—since the onset the or 35% of total PHL pandemic—indicatethe theemergence emergenceof of pandemic—indicate HE Phi lippines’s trade the valueadaptive of export andto import. more discerning consumers adaptive to more discerning consumers with China was the most BoT-G in 2021 was [a decline of] electronic, or online, shopping experience. electronic, or experience. unfavorable asonline, it yielded shopping $43.23 billion which represents

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a trade deficit worth $15.245 billion in 2021, according to the latest data released by the PhilipFor one, the Southeast Southeast Asia For one, the Asia pine Statistics Trender ReportAuthority 2021 byby(PSA). Zalora Trender Report 2021 Zalora shows that 40million million Asiansmade made T hethat amount represented a shows 40 Asians theirdebut debut Internet use and 70 their Internet 70 hefty 35.27inin percent ofuse theand counmillion havedeficit madetheir their firstonline online million have made first try’s trade of $43.23 bilpurchase within the2020 2020 and2021 2021 purchase the and lion for within the whole of 2021. The period, many many themlast attracted period, ofoftrade them attracted country’s total year and drawn into actual purchase and drawn into actual purchase amounted to $192.53 billion. byby product salespromotion promotion and disproduct disThe sales countr y’s tradeand deficit countofferings. offerings. count widened in 2021 as exports only When pandemic curbs were When pandemic curbs reached $74.65 billion whilewere imimposed by the first quarter imposed by the first quarter ofof ports amounted to $117.88 bil2020,sales salesofofproducts productslike liketrendy trendy 2020, lion in 2021. dressesand andfashion fashionwear weardropped dropped dresses “Balance of trade in goods sharply,and andreplaced replacedbybyproducts products sharply, [BoT-G] thehealth difference between relating is and wellness, wellness, relating toto health and personal care care and and apparel, apparel, even even personal sportsand andaccessories. accessories. sports However, some some items items that that However, were dropped dropped byby consumers consumers for for were practicalreasons reasonsofofmovement movementrerepractical strictionsare areseeing seeinga arevival revivalinin strictions saleslately, lately,asasa apromise promiseofofa a“less “less sales stressed”year yearofof2022 2022on onCovid-19 Covid-19 stressed” infections,are areopening openingavenues avenuestoto infections, revivethe theengines enginesofoftravel, travel,fueling fueling revive newinterest interestinintravel traveland andfashion fashion new wearagain. again. wear Zalora,a amember memberofofthe theGlobal Global Zalora, Fashion Group, Group, boldly boldly predicted predicted Fashion

a trade deficit with an annual increase of 75.7 percent,” PSA reported. “The trade deficit in the previous year declined at an annual rate of 39.5 percent, while in 2019, the trade deficit declined by 6.6 percent,” it added. Based on PSA data, the Philippines’s top imports from China were electronic products worth $6.79 billion followed by mineral fuels, lubricants and related materials worth $2.45 billion; and iron and steel, $2.42 billion.

ZALORACEO CEOGunjan GunjanSoni: Soni:“The “Thedawn dawnofofa a ZALORA newera eraofofretail retail“Deficit,” alreadyhere here Southeast new isisalready See A2 ininSoutheast Asia.AsAsconsumers consumersbecome becomemore morediscerning discerning Asia. andconnected, connected,weweare areseeing seeingincredible incredible and innovationshappening happeningininthe theretail retailsector sector innovations ncompletely US 52.4530 n japan 0.4100 n that completely reimagine theshopping shopping that reimagine the experience.” experience.”

PESO exchange rates

that“the “thefuture futureofofretail retailisisvirvirthat tual,”pointing pointingatatthe themomentum momentum tual,” Asianconsumers consumersgoing goingonline online ofofAsian andbecoming becomingadaptive adaptiveand andsavvy savvy and aboutonline onlineshopping. shopping. about

Shoppersofoftomorrow tomorrow Shoppers

“THEdawn dawnofofa anew newera eraofofretail retailisis “THE alreadyhere hereininSoutheast SoutheastAsia. Asia.As As already

‘Ukraine war may run longer, impact PHL in more ways’ By Cai U. Ordinario

In an inter view on Bloomberg, Finance Secretary Carlos G. Dominguez III said this behind shows products, withhosts hostsand and consumersbecome becomemore morediscerndiscernHE Philippines may need to his call multilateral developshows ofofto products, with consumers guestsbanks, providing moredetails details and ingand andconnected, connected,we weare areseeing seeing guests providing more and ing buckle up as the Ukrainement namely, the Asian givingtestimonies, testimonies, Zalora said. incredibleinnovations innovationshappening happening giving Zalora said. incredible Russia crisis could take Development Bank (ADB) and Itwould would alsoto help brands intheretail retailsector sectorthat thatcompletely completely also help brands inininthe longer than expected and more the It World Bank craft “rescue novate on flexible sales promoreimagine the the shopping shopping experiexperinovate on flexible sales promoreimagine needs to be done to cushion the packages” for economies that may tions, suchasasgiving givingdiscounts, discounts, ence,”Gunjan GunjanSoni, Soni,chief chiefexecutive executive tions, such ence,” impact of the war on various counbe affected. and offering offering easier easier and and attracattracofficerofofthe theZalora ZaloraGroup, Group,told toldan an and officer tries, according to the Departtive payment options such asthe the onlinepresentation presentationofofits itsTrender Trender tive payment options such as online See “Ukraine,” A2 ment of Finance (DOF). buy-now-pay-later (BNPL) (BNPL) opopReport2021. 2021. buy-now-pay-later Report tion,which, which,ititsaid, said,emerged emergedasas Shedescribed describedthe the“shoppers “shoppersofof tion, She themost mostpopular popularoption optionamong among tomorrow”asas“digital “digitaland anddiverse diverse the tomorrow” Asianshoppers. shoppers. acrossSoutheast SoutheastAsia.” Asia.” Asian across CLOCKWISE photos): showcase different cultures during the opening program of Indonesia, for for example, example, “It’s (top digitalPerformers diaspora,” she InIn Indonesia, “It’s a a digital diaspora,” she Google saw saw a a “10x “10x increase increase inin said, citing Google trend monitorthe World TravelGoogle and Tourism Council (WTTC) Global Summit Philippines on Thursday, April 21, 2022, Google said, citing trend monitorsearchesfor fore-wallet e-walletservices servicesand and ing that shows million newInIn- Bernadette Romulo-Puyat; WTTC Chairman searches ing that shows million new at the Marriott Hotel40 in40 Pasay City; Tourism Secretary 15xrise riseininBNPL BNPLservices servicesininthe the ternet users came online in2021, 2021, 15x ternet users came online Arnold Donald ; WTTC President andin CEO Julia Simpson; (above) Romulo-Puyat facilitates a panel lastfive fiveyears. years.Other Otherappealing appealing “bringing the internet penetration last “bringing the internet penetration discussion with Dan Richards, CEO, The Global Rescue Companies; Paul Griffiths, CEO, Dubai Airports; payment options options like like monthly monthly Southeast Asia 75percent.” percent.”Marriott International; and Kathleen Matthews, journalpayment inin Southeast Asia toto75 Craig Smith, Group President-International, installments,toto00percent percentinterinter“In fact, eightout outofofTESTA 10InterInterinstallments, “In fact, eight 10 BERNARD ist and WTTC ambassador. estfees feeson oncredit creditcards, cards,provide provide netusers usersininthe theregion regionare aredigidigiest net access toto quality quality products products and and talconsumers. consumers.Recognizing Recognizingthis this talsavviness savvinessand andtaste tastefor forluxury luxury Internetand andelectronic electroniccommunicommuniaccess tal tal Internet By Ma. Stella F. Arnaldo ofcation 5.8 percent annum in Google the serviceswhile whilealso alsoimproving improvingfi-fishiftininadoption, adoption,brands brandsquickly quickly andsustainability. sustainability. gadgetsper bytheir theirside. side. services shift and cation gadgets by Google @akosistellaBM next decade. nancialinclusion. inclusion. expandedtheir theironline onlinepresence presencetoto “Thereport reportisispositioned positionedasasa a trend showsMalaysian Malaysianshoppers shoppers nancial expanded “The trend shows Special to the BusinessMirror Responding a question Zalora,for forinstance, instance,offers offers21 21 reachthese thesenew newdigital digitalconsumconsumreferencepoint pointthat thathelps helpsZalora’s Zalora’s spendclose closetoto9to 9hours hours onlineon on Zalora, reach reference spend online concerning unvaccinated indipaymentmethods methodsacross acrossthe therereers,and andZalora Zalorareported reporteda a19-per19-per900brand brandpartners partnersnavigate navigatethe the average,“and “and arethe themost mostlikely likelytoto payment ers, 900 average, are ET vaxxed, get travviduals wanting to travel, she gion, including including cash-on-delivery cash-on-delivery centincrease increase newbrands brands that region’sdiversity diversityand andevolving evolvingrerevalue-driven.” gion, region’s cent ininnew that bebevalue-driven.” eling.” stressed, “The travelshoppers policies andBNPL BNPLoptions optionsacross acrossthe themarmarjoined the platform in 2021,” she taillandscape,” landscape,”Zalora’s Zalora’sCEO CEOGunGunSingaporean shoppersof aare are and tail joined the platform in 2021,” she Singaporean This is the position majority of countries is you have kets.ItItlaunched launchedits itsfirst firstco-brandco-brandadded. janSoni Sonisaid. said. mostlikely likely investin inluxury luxury purkets. jan added. most totoinvest purof the World Travel and Tourism to be fullywith vaccinated tosearch visit. And creditcard cardininpartnership partnershipwith with With more Southeast Asians Aside from from digital digital partners partners chases, with Google Google search data ededcredit Aside With more Southeast Asians chases, data Council (WTTC), as its President ifshowing I’m completely honest, I believe RCBCand andMastercard Mastercardininthe thePhilPhilbrowsingnow nowand andgetting getting themlike Google, Google, Mastercard, Mastercard, H&M, H&M, showing 21-percent year-on-year RCBC like browsing thema a21-percent year-on-year and CEO Julia Simpson, unveiled in full vaccination. I think it’s far ippines,the thefirst-ever first-everfashion fashionand and selves more online, the average Lush,Paula’s Paula’sChoice, Choice,HABIB, HABIB,AtAtincrease Singaporeans’ searches ippines, Lush, selves more online, the average increase ininSingaporeans’ searches on Thursday the body’s latest lifestylecredit creditcard cardininthe theregion region Asian shopperbrowses browses across 7.9 ome, Revery.AI, Revery.AI, Visenze, Visenze, BeLive BeLive forluxury luxury goods. better thangoods. any method to keep lifestyle ome, Asian shopper across 7.9 for Economic Impact Report (EIR), thatrewards rewardscustomers customersevery everytime time websitesbefore before making decision, Technology,TaFF, TaFF,Finix FinixWear, Wear,JoJothat Technology, websites making a adecision, us safe and be able to travel.” which forecast global travel and theyshop. shop.ItItisisalso alsothe thePhilippines’ Philippines’ upfrom from 5.2inin2020. 2020. Dataconsumption consumption annalsm,Lily Lilyand andLou, Lou,and and CresCresthey annalsm, up 5.2 Data See “Abroad,” firstsustainably sustainablymade madecredit creditcard card By country country countdown, FiliZALORA’S ventureA2into into data data centRating, Zalora Zalora also also gets gets its its tourism to growcountdown, by an average first centRating, By FiliZALORA’S venture theZalora ZaloraCredit CreditCards Cardswill willbebe pinoshoppers shoppersspend spendthe thehighest highest analysisallowed allowedits itsclients clientstotosee see data analysis analysis from from the the total total ofof asasthe data pino analysis madewith with84 84percent percentbio-sourced bio-sourced averagenumber numberofofhours hoursonline, online, moreclearly clearlythe thetrend trendininretail. retail. 8,000brands brandsininits itsfold, fold,the the60 60milmilmade 8,000 average more polylacticacid acidderived derivedfrom fromnonnonclosetoto11 11hours, hours,“and “andare aremost most “Our flagship flagship state-of-the-instate-of-the-inliononline onlinevisits visitsbybyshoppers shoppersand and polylactic lion atatclose “Our ediblecorn. corn. likely toto make make purchases purchases based based dustryreport reporthelps helpsfacilitate facilitatethe the whoseactive activecustomers customersofof44milmiledible whose likely dustry UKonon 68.5141 n HK 6.6871considerations.” n CHINA 8.1702 industry’s nindustry’s singapore 38.4920 by nallowing australia 39.0827 n EUincrease 56.9272 mobile nmobile SAUDI arabia 13.9867 Source: BSP (April 21, 2022) “With290 290million millionunbanked unbanked evolutionby allowing lionhelped helpedincrease sales sustainabilityconsiderations.” “With lion sales evolution sustainability peopleininthe theregion, region,offering offeringalalmorebrands brandstotounderstand understandthe the 81percent percentinin2021 2021compared comparedtoto Comparethis thiswith withtheir theirIndoneIndonepeople byby81 more Compare ternative payment payment methods methods bebechangingmarket marketand andanticipate anticipate theprevious previousyear. year. sian counterparts counterparts who who are are most most ternative the changing sian camea amust mustfor foronline onlineretailers,” retailers,” whatthe thefuture futureholds. holds.Our Ourfocus focus Brand partners partners ofof Zalora Zalora likelytotospend spendon onbeauty beautyproducts products came Brand what likely Zalorasaid. said. continuestotobebeon onconsumer consumerbebewouldappreciate appreciatethe theother otherinforinforandsports sportsequipment equipmentasasa aform formofof Zalora would continues and haviorsvs. vs.market marketsize sizeoutlooks outlooks mation itit obtained obtained such such asas cuscusleisure,despite despitea adip dipininconsumer consumer mation haviors leisure, andhow howititisisevolving.” evolving.” tomers“are “are40 40percent percentmore morelikely likely Signsofofthe thetimes times sentimentdue duetotothe thepandemic. pandemic. and tomers Signs sentiment BRAND partners partners ofof Zalora Zalora may may spendthan thanplanned plannedonce oncethey they Itslatest latestTrender Trender2021 2021Report Report Malaysia, though, though, has has the the BRAND Its totospend Malaysia, alsolook lookatatthe thedata: data: identifythe theshopping shoppingexperience experience has outlined outlined key key technological technological highestpercentage percentageofofdigital digitalnanaalso has identify highest Fragrances dominated dominated the the highlypersonalized.” personalized.” shiftsinindigital digitalpayment paymentand andconcontives,atat88 88percent percentoror22 22million. million. • • Fragrances shifts asashighly tives, PersonalCare Carecategory, category,overtaking overtaking sumerexperience experiencethat thatcome comehand hand This makes makes virtual virtual sessions sessions These are are the the segment segment ofof their their Personal sumer This These handwith withshoppers’ shoppers’rising risingdigidigihelpful for for consumers, consumers, like like live live populationthat thatgrew grewup upwith withthe the ininhand helpful population Continuedon onA2 A2 Continued

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@caiordinario

BANG OLAND | DREAMSTIME.COM BANG OLAND | DREAMSTIME.COM

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Bloomberg

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U.S. ON RATE MOVE–DOF

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PESOEXCHANGE EXCHANGERATES RATESnnUSUS50.4010 50.4010 nnJAPAN JAPAN0.4454 0.4454 nnUK UK67.0888 67.0888nnHK HK6.4693 6.4693 nnCHINA CHINA7.9027 7.9027 nnSINGAPORE SINGAPORE36.8159 36.8159 nnAUSTRALIA AUSTRALIA35.7494 35.7494 nnEU EU56.9683 56.9683 nnSAUDI SAUDIARABIA ARABIA13.4356 13.4356 Source: Source:BSP BSP(December (December3,3,2021) 2021) PESO


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