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COVID-19 Pandemic Makes Filipinos Mindful of Personal Finances

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With the uncertainties brought about by the current crisis, Filipinos are now looking at various ways to address their personal finance concerns, making it the most read topic on the internet after Enhanced Community Quarantine and Health.

A white paper released by AdSpark, Inc., a portfolio company under Globe Telecom’s 917Ventures,  showed that consumption of Personal Finances as a topic grew by 800% from January 2020 to end of March 2020 when most Filipinos were required to stay at home.

savings

This was supported by the Global Web Index which tells in numbers how people foresee the impact of the situation on their personal finances.  Of the Filipinos surveyed, 65% believed that the COVID-19 pandemic will have a big impact on their personal finances while 15.7% said the effect could be greater.

In February and March, the conversation around personal finances also shifted from loans to the effects of COVID-19 on oil prices and the stock market as well as the global economy. With such volatility in the economy,  there is lower interest in growing future money and greater interest in maintaining present money.

“COVID-19 feels like a second chance to me.  From now on,  I want to save more and fast track myself to the road of financial independence,” said Jane Cruz, 36, who takes care of her immunocompromised parents. “If before, my savings were simply to prepare for a rainy day, I now look at it in the perspective of preparing finances in case only one person in the household is able to provide income, just like now.”

Income is an even bigger concern for those part of the gig economy.  Sam, another interviewee from a gig company, said that her fear is  “Zero client requests. Basically no clients equals no pay.  Difficult to look for other companies to partner with since most businesses have put their operations on hold too.”

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Small businesses are also afraid of the impact of recession.  “You cannot expect consumers to spend and money to just come pouring in.  Both consumers and brands will act more conservatively so that the economy will not move as quickly as before,” said Liz, who works for a logistics and delivery company.

And since this is a global issue, Overseas Filipino Workers are hit as well.  On a national level, remittances are affected while on a personal level, their families suffer too.

However, despite their worries about personal finances, Filipinos tend to avoid the topic when posting on social media.  Instead they  fight for the more financially-challenged who need more help from the government. They would also rather talk about politics, health and ECQ.

According to the local study, at first glance, those on social media seemed to be concerned only about those who need to make financial ends meet.  But what people read about online personally tells a deeper story:  They are, actually, concerned with their own financials.

AdSpark uncovers the real concerns, fears, motivations, and expectations of a Filipino consumer during the Covid-19 crisis, attempting to tackle and map out behavioral changes and formations of habit, post-crisis.

For brands and marketing practitioners to keep in close touch with their respective target audiences, it is important to continuously understand the ever-evolving Filipino and his content consumption – How he copes with the radical changes caused by the outbreak and explores how it will potentially change him for years to come.

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“Using our brand planning proprietary tools, we wanted to delve deeper and understand the Filipino psyche in this very critical period. This is a provocative way to help leaders in various enterprises understand what consumers need and want in this age of crisis” said Onat Roldan, AdSpark President and CEO.

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AdSpark generated the report by using its own AdSpark intelligence platform. AdSpark Intelligence uses social listening that tracks mentions, comments, and sentiments across the internet; and content consumption which measures what Filipinos are reading and viewing online.

To learn more and explore the other four tension points in this study, download the full report here. https://adspark.ph/thought-sparker-portrait-covid-19-crisis-filipino/

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Globe

Globe Logs over 11M Prepaid SIM Registrants, urges Customers to Register before April 26 Deadline

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Globe, the leader in Mobile, has registered more than 11 million active prepaid SIMs around a month after the law mandating all Filipinos to register their SIMs took full effect.

Globe hit the milestone 11-million mark on Monday, January 30, 2023, a month after the SIM Registration Act was rolled out as a measure to stop cybercrime, including scam messages that proliferated due to the anonymity provided by prepaid SIMs.

“We are grateful to our customers for promptly registering their SIMs. We understand the importance of addressing the proliferation of scam and spam messages and have made it our priority to provide our customers with a seamless registration process. We are committed to meeting the deadline and continuing our efforts to protect our customers from scammers and fraudsters,” said Darius Delgado, Head of Globe’s Consumer Mobile Business.

Globe urges its customers who have yet to register to visit its user-friendly registration portal https://new.globe.com.ph/simreg. There are an estimated 87.4 million existing SIM users under the Globe network.

Registration via the GlobeOne app will begin in February as an added channel where customers may register their SIMs. As a user of GlobeOne, customers will have access to exclusive offers and deals that are available only in the app.

Globe also provided support for government-led assisted registration in priority sites nationwide from January 25 to 27. Globe established booths in 15 areas and provided assistance to anyone who needed help, especially those in need of special assistance, including senior citizens, PWDs awww and those using basic/feature phones.

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Other than supporting the NTC-led assisted SIM registration, Globe has also started rolling out its own on-site assistance booths across the country. From January 27 to 29, it led SIM registration assistance in 30 Puregold branches in strategic locations in Luzon, Visayas and Mindanao. It will extend SIM registration assistance in other locations soon.

These efforts aim to provide inclusive ways to get its customers registered by the April 26, 2023 deadline. Users who fail to complete their registration on time will have their SIMs deactivated.

Even before the new law was implemented, Globe has taken several steps to curb disruptive messages through proactive blocking, threat intelligence partnerships with financial institutions, a customer reporting portal, plus an awareness and education campaign to help customers with online protection.

To learn more about Globe and the SIM registration process, visit https://www.globe.com.ph/register-sim-card.html.

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Globe Deactivates, Blacklists More than 50,000 SIMs Linked to Fraud in 2022

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Leading digital solutions platform Globe deactivated and blacklisted more than 50,000 SIMs last year as it continued to intensify consumer protection initiatives amid the rising cases of online fraud.

Globe deactivated 20,225 SIMs and blacklisted 35,333 SIMs involved in scam and spam messages in 2022 alone as part of its campaign for internet safety.

This was on top of the record 2.72 billion scam and spam messages it blocked last year, 83.4 million of which were bank-related. All these efforts have been on-going to protect customers from harmful content and fraud before the enactment of the SIM Registration Act.

“Globe recognizes the growing threat posed by scammers, who use various tactics, including text messages, to deceive innocent victims into giving up personal information that could be used to compromise their financial accounts. We will continue to invest in our cybersecurity program to protect our customers from these unscrupulous individuals,” said Anton Bonifacio, Globe Chief Information Security Officer.

Under its filtering protocol, Globe deactivates SIMs within its network once detected to have been involved in fraud. Meanwhile, SIMs outside of the Globe network are blacklisted to prevent them from sending to Globe.

Globe Deactivates SIM Blocked

On its own, Globe has taken a proactive approach to combat cybercrime schemes through various initiatives. It has implemented blocking mechanisms, established partnerships with financial institutions for threat intelligence, created a customer reporting portal, and launched an awareness and education campaign to empower customers with the knowledge and tools they need to protect themselves.

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Meanwhile, in a move to address growing concern over the use of unregistered SIMs in committing cybercrimes, the government introduced Republic Act No. 11934, also known as the SIM (subscriber identity module) Registration Act. Signed into law in October, the measure requires all mobile and broadband users to register their SIMs with their respective service providers to ensure that they are properly identified.

As of January 25, Globe has logged 10.4 million registrations of prepaid SIMs.

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Globe’s 5G network expands to 237 sites in VisMin, Connects more Consumers and Businesses #Globe5G #VisMin

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Leading digital solutions platform Globe expanded its 5G coverage to 212 sites in Visayas and 25 in Mindanao by the end of the third quarter in 2022, providing more consumers and businesses with improved connectivity and access to faster data speeds.

The company’s 5G network is now expanding and available to most of the population in Davao City, Cebu, Iloilo City, Zamboanga City, Cagayan de Oro City, Boracay and Bacolod City.

The expansion of 5G technology in Visayas and Mindanao is intended to help bridge the digital divide between these regions and the rest of the country. It aims to support economic development and enable residents to access a wider range of digital services and opportunities.

The deployment is also beneficial to the growth of new industries and businesses in the said areas. It can inspire innovation and competitiveness as companies seek to provide the best possible services to their customers.

Globe's 5G network expands to 237 sites in VisMin, Connects more Consumers and Businesses #Globe5G #VisMin

“We believe that the expansion of 5G technology in Visayas and Mindanao is essential for driving economic growth, supporting innovation, and providing access to fast and reliable digital services for residents and businesses in these regions. It will also help spur further investment and support the emergence of a vibrant and dynamic digital economy,” said Joel Agustin, Globe Senior Vice President for Network Planning & Engineering.

As a pioneering provider of 5G technology in the Philippines, Globe is committed to delivering improved customer service and reliable, consistent data services to its customers.

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By scaling up the rollout of its 5G network, Globe is taking a major step towards building a more connected and technologically advanced society in the Philippines. It is helping drive the adoption of 5G technology and paving the way for the next generation of digital innovation.

5G technology is capable of delivering internet speeds up to 100 times faster than 4G. It also has less lag, making it suitable for video streaming and gaming.

To learn more about Globe, visit www.globe.com.ph.

 

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