The Philippines’ social media landscape is a marketer’s playground. With Filipinos being Asia’s most virtually social, there is so much room to explore and experiment. A big part of what goes on here is “budol culture” or the phenomenon of impulsive purchases fueled by social media reviews from peers and influencers.
Today, this playground feature is changing. Forget skincare products and gadgets; Filipinos are now on the hunt for experiences that become stories to share—and, ideally, liked and tried by others.
From stuff to stories: The rise of the ‘experience budol’
In the recent past, budol meant scoring a steal on a new pair of kicks, letting everyone in your circle know how great your latest purchase is, and eventually dropping hints as to why they should buy it as well. But the phenomenon of unintended purchases powered by irresistible electronic word-of-mouth is experiencing an interesting shift in the type of purchases involved.
Where the lockdowns pushed people towards social media feeds as shopping platforms, the lifting of pandemic restrictions and a renewed desire for connection have led to a different type of budol—one built on sharing new and interesting experiences in the outside world. Soon, influencers weren’t just shilling products; they were your “budol buddies,” showcasing staycation packages, unique food tours, or DIY workshops in a fun, relatable way.
This phenomenon is what’s becoming known around the world as “the experience economy,” with brands moving towards selling memorable experiences, not material things, to consumers. In fact, a report by McKinsey & Company predicts that by 2030, spending on experiences will overtake spending on physical goods in developed countries. Situating the experience economy within budol culture, marketers in the Philippines are now faced with a challenge: How might we create value through unique and shareable experiences?
To better understand the rise of the experience economy, the Vero team in the Philippines conducted a quick survey that helped paint a vivid picture of just how much the consumer landscape is changing and how brands can adapt.
As it turns out, Filipinos place more importance on experiences over material possessions—so much so that given a fictional budget of P100,000 and the choice between a one-time luxury purchase and a year of new and unique experiences, 60% would happily choose the latter.
How brands can win in the booming experience economy
Just over half of respondents in our survey spend more on physical goods compared to experiences, which is understandable given that people do need material things to survive. But here’s where it gets interesting: 80% said that experiences are more important compared to material possessions, and a majority say that their favorite memories of the past four years were related to experiences and not objects. Many survey respondents also share that online content creators play a crucial role in letting them know about the latest trends and experiences.
Despite spending more on physical goods than special experiences, 51% of people in our survey said that experiences are “very important” compared to material possessions, while another 29% described experiences as “somewhat important.” In contrast, only 3% indicated that experiences were not important to them. This suggests that experiences need not be expensive to be important to people.
When asked to reflect on the last four years, 34.5% of people in our survey strongly agreed with the statement that their favorite memories are related to experiences rather than possessions. In contrast, only 1.8% strongly agreed with the reverse: that material possessions played a more important role in their favorite memories.
Taken together, the boom of the experience economy in the Philippines presents a significant opportunity for marketers, given what we know about budol culture and how our hyper-connected social media landscape can reward brands that know how to tap into it. Here’s how:
Craft experiences, not just products: Think beyond selling stuff and encourage consumers to share their stories. Sure, some businesses have this built in, like trendy DIY bakeries or interactive museums. But even more “traditional” businesses in the retail and service industries still have plenty of room to innovate. Unique experiences could include a themed karaoke night at your bar (Filipinos and karaoke, name a more iconic duo!) or a workshop on how to make your very own bagoong (fermented fish paste) using your brand’s ingredients. Companies can even reimagine their retail environments to feature more interactive and personalized touches or have pop-ups around certain themes or holidays.
Think in social currency: The beauty of budol culture is that you don’t have to be an influencer to influence, and that means every customer is a potential brand ambassador—that is, if you give them something to post about. Consumers are more likely to spend on brag-worthy experiences that they can share on social media for likes and a more positive online persona, so keep that in mind when crafting experiences around your brand. Let your customers be the stars of their own online stories and ensure that they get their ROI in likes and shares after buying from you.
Embrace the power of #CommunityGoals: Filipinos love a good barkada (group of friends). Wanting to be part of a community—important for 83% of Filipinos— can be a powerful motivator for consumers to buy into your brand. Think online communities, social media contests with hilarious challenges, or loyalty programs that reward shared experiences. You can also feature local traditions or cultural experiences in your marketing efforts, or throw in a sweet group incentive, like a two-for-one deal at your business.
Partner with the right influencers: Generic celebrity endorsements and a fake-perfect social media feed are no longer going to cut it. In our survey, respondents shared how micro and nano influencers tend to feel more genuine and relatable, particularly on TikTok. It’s these types of “budol buddies” that are more open to sharing their own journey, including their struggles (like haggling with a tricycle driver or getting lost on the way to your event), as well as their interesting discoveries, thereby building trust and a sense of being in this together with their audience.
TikTok’s Feast of Discoveries: A case study
The tips above were especially useful in our work with TikTok, whose location tag feature needed a bit of a boost among Filipino users. The campaign was held during TikTok’s Food Fest, and in a place like Metro Manila, where foodies can find hidden gems at every corner, we thought it was best to center the campaign on using the Point of Interest (POI) location feature to tag newly discovered restaurants and dining experiences.
To do this, the Vero squad tapped Jessica Lee, a Korean influencer known for featuring interesting Philippine attractions and cuisines in her vlogs. The video campaign featured her using the POI tag to make her way to lesser-known local haunts on foot and befriending both owners and patrons of the different food establishments. Aside from providing her viewers with the location of each stop, Jessica also shared the prices of and her thoughts on each dish she tried, encouraging her viewers to try the food with friends and family, too.
The result was a successful video campaign that not only promoted TikTok’s useful new feature but also highlighted the local businesses featured in the videos—yielding impressive organic results. This campaign underscored the power of the experience economy among audiences in the Philippines, showing how immersive content can drive engagement and, in many ways, support local enterprises.
The future of budol: A like-a-thon for marketers and Filipino consumers
The budol culture is a celebration of Filipino resourcefulness, community, and the joy of creating lasting memories that light up social media feeds. As the experience economy flourishes in the Philippines, marketers who embrace this evolution will be well-positioned to win big.
The future of budol isn’t just about impulsive purchases; it’s about creating authentic connections, offering Filipinos experiences they’ll love to document and share with the world, and turning them into loyal brand ambassadors in the process. By understanding the Filipino consumer’s desire for meaningful experiences and leveraging the power of community and social media, marketers can become partners in creating these cherished memories and rack up those likes along the way.
At Vero, we’re fascinated by emerging trends in the region, like growing influencer power in Indonesia and the rising pet parent demographic in the Philippines. If you’re wondering how to leverage the latest consumer trends in the Philippines for your business, reach out to our team in the Philippines at manila@vero-asean.com today.
