Why Filipinos are a Good Target Market: Understanding the Global Filipino Community
Filipinos or Pinoys are known to be one of the largest diasporic communities in the world. According to the Commission on Filipinos Overseas, there are around 10.2 million overseas Filipinos as of 2019, making up about 9.8% of the total Philippine population. With such a large number of Filipinos living abroad, it’s no wonder that many businesses are targeting this demographic.
If you’re a business owner or marketer, targeting Pinoys should definitely be on your radar. Here are some reasons why:
- High remittance rates: Filipinos living abroad send a lot of money back home. In 2020, remittances from overseas Filipinos reached a record high of $33.19 billion, according to the Bangko Sentral ng Pilipinas. This means that Filipinos abroad have a lot of purchasing power and are willing to spend their hard-earned money on goods and services.
- Strong family ties: Family is very important to Filipinos, and this is evident in their remittance habits. Many Filipinos send money back home to support their families and loved ones. This also means that they are more likely to make purchases that benefit their families, such as buying gifts, sending care packages, or even helping with tuition fees.
- Tech-savvy: Pinoys are known for their love of technology and social media. They are active users of platforms like Facebook, Twitter, and Instagram. This means that they are more likely to discover your business through online channels, making it important to have a strong online presence and utilize digital marketing tactics.
- Diverse interests: While Filipinos share a common heritage, they are a diverse group with varied interests and preferences. This means that there are many niches and markets to explore when targeting Pinoys, from food to fashion, from travel to tech.
When it comes to targeting Pinoys, classified ad websites and marketplaces are a great place to start. These platforms offer a cost-effective way to reach a large and diverse audience. By using targeted keywords and demographics, you can ensure that your ads are seen by the right people.
So, if you’re looking to expand your business or reach a new audience, consider targeting Pinoys. With their high remittance rates, strong family ties, tech-savviness, and diverse interests, they are a demographic that should not be ignored.