3 Reasons Barter Will Work in the Philippines

The Philippines has been having transactions even before the time Spaniards came over to dominate. Filipinos have been transacting with each other and other races too. Datus or the leaders among villages, or as we call it ,baranggays, manage negotiations with other Datus and Maharlikas through exchange of goods. There even was a time when slaves exchange was a form of barter in the Philippines, particularly in answer to exchange of services.

Don’t be mistaken, slavery has long been abolished in the country. Then, Chinese came and they also transacted. However, barter in the Philippines met difficulties such as not being able to see groups in need of what the other can offer, thus, made barter a search for a good exchange partner. That is the reason other modes of payments were invented and so the barter system in the Philippines evolved and has became buying.

Now, Barter system is a boom inothercountries but itisnot muchof a big thing yet in the Philippines, orifitwere, not so muchknows about it. So ifever Barter in the Philippines would become popular, here are the three reasons barter in the Philippines would definitelybe a success:

1. Less money is ideal

The Filipinos like buying items that are less expensive. That is the reason we lots of thrift shops in the country from clothing to shoes to books, we have them. And people patronise it. Why? Because the Filipinos look for value in money.  

Or because the Philippine pays low labour, people look for ways to save more while getting what they need. So of they can get more item with less money that is good! What more of they do not need money anymore? Better!

2. We have a lot of old items in store

Filipinos have this behaviour of keeping things in store even when they don’t need it. Emotional attachment. That is why. No matter what other say, the implicit reason is because we spent money on them! So hand-me-downs are a thing in the country. Remember, we want to maximise the value of our money so if someone would introduce a system of product exchange to give away what is old to get something new and needed, then there is a big chance Filipinos will buy the idea.

3.  We love making connection

One of the best benefits barter in the Philippines can offer is that when it comes to services, Filipinos can deliver the best! The Philippines is one of the countries that lead in the number of proficient English speakers and the Philippines’ literacy rate is at par with international standards too. We wouldn’t be called one of the BPO capitals in the world for nothing. If some worry about transacting with literate individuals, well College Degrees are not much of a problem here. 

Since we are also hospitable, we love opportunities to grow our networks in a faster and cheaper way. Because we also like being practical. Barter in the Philippines can offer new platform to meet other businesses and individuals with the right expertise. Besides, exchange of service is a way for businesses to market themselves without spending too much and getting what they need in return.

Barter in the Philippines in a corporate set up is not much of a thing yet, so reintroducing it can promise a lot of changes. First, in can incur “discounts in tax” and second it can also help grow a pool of professionals  working within a specific niche or experts in different fields that are connected by a common institution.

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