Data from an online market aggregator found that Filipino parents need an estimated P60,000 to the afford the basic needs of a newborn.
Price aggregator iPrice released a report on the average cost of basic items for newborn in some countries in Southeast Asia amid the still raging COVID-19 pandemic.
Based on its price data for the region, one-off purchases or purchases made only once such as baby car seats, strollers, five toys, cribs and step stools amount to nearly P57,800.
On the other hand, basic items for babies that needed to be bought on a regular daily basis cost about P1,600 overall.
These include diapers, wipes and milk formula.
iPrice also released data on the average cost of each item whether for one-off or regular purchasing for reference.
Some of their average costs on e-commerce platforms are:
- Carriers – P1,675
- Cribs – P1,846
- Pillows – P463
- Diapers – P504
- Wipes – 240
In the report, the marketing firm noted that these are just average prices on its platform, “which means that there could be cheaper alternatives.”
“Nonetheless, it may take a while for some parents to save up for a baby since some countries’ minimum wages are alarmingly low. And parents usually need to save up for 8 months prior to the birth of their babies,” it added.
The price aggregator also mentioned how a minimum wage earner in the Southeast Asian region can afford to take care of a newborn baby.
If a Filipino worker earns a minimum wage of P537 a day, he or she will only earn about P10,740 a month.
Therefore, he or she still needs to save 69% of his or her monthly salary for eight months to afford a newborn’s basic needs.
Workers in Malaysia and Indonesia, on the other hand, have a relatively higher monthly minimum wage of US$ 287 or P14,508.14 and US$ 310 or P15670.81, respectively.
The expense of buying baby items will thus cost each worker half of their salaries.
A worker in Singapore has the highest minimum wage of US$1,031 per month or P52,118.08 per month.
He or she may only have to save P14% of his or her salary to rear a child.
According to iPrice, these findings only apply to single parents who will solely provide for their newborns.
“Usually, there would be two members in a family making an income,” it said.
Increase in interest for baby items
Amid the tough restrictions and health risks during the pandemic, iPrice found that there’s an increase of 146% in baby categories among Filipino consumers.
It detailed that equipment for babies such as inflatable pools and bicycles for babies had the highest impression on Google in the country.
Other products with the most Google searches in the Philippines are diapers and milk formula.
Here are the baby items with the most Google impressions in Southeast Asia based on the marketing firm’s platforms:
The price aggregator concluded the report with a recommendation on careful family planning to provide a good quality of life for children amid the health and economic crisis.
“Careful family planning can be the key to a good quality of life. Parents just have to be smart about their money by tracking expenses closely or using price comparison tools like iPrice when purchasing for their babies,” it said.
Average costs of items came from iPrice Malaysia’s database between December 2020 and October 2021.
Minimum wage numbers, on the other hand, were acquired from ASEAN Briefing, Channel News Asia and Trading Economics.
($1 = 50.55 Philippine pesos)