Filipinos spend big on gadgets — 80% of Skyro loans prove it

With the ‘Ber months’ finally here and Filipinos getting their Christmas gift lists ready, the demand for smartphones and gadgets is expected to reach record highs.

“Smartphones and gadgets account for roughly 70 to 80% of total demand. These products are essential tools for communication, work, and education,” explained Dmitriy Vavulidi, Head of Product at Skyro, a reliable SEC-registered lending app in the country. Dmitriy also noted that the next categories expected to be in demand include home appliances, followed by lifestyle and personal items such as fashion and beauty products.

The increasing sales of these products show how Filipino consumers are embracing flexible payment options, particularly Buy Now, Pay Later (BNPL) offers that make it easier to afford their dream purchases without the upfront cost.

But while many call product loans “BNPL,” they actually work differently. Product loans like those from Skyro offer better terms, are fully regulated, and are reported to credit bureaus, helping customers build a stronger financial record over time.

“Many Filipinos have limited access to traditional credit, face fluctuating income, or prioritize family and daily expenses over lump-sum payments,” said Dmitriy. “That’s why the installment-based model fits so well with the Filipino culture – it spreads out payments and makes both online and in-store purchases more convenient,”

The Philippines remains one of the largest untapped consumer credit markets in Southeast Asia. With over 70% of adults unbanked or underbanked and credit card penetration below 15%, there’s a clear demand for alternative financing solutions. The rise of digital wallets and e-commerce platforms has also accelerated the shift to digital credit, creating fertile ground for installment-based credit products.

“Skyro’s mission is to help Filipinos bring home the products they dream of, especially during the ‘Ber months,’ when families focus on fun and happy celebrations together. We make loans fast and flexible, with products that adjust to every person’s needs,” said Iya Lelyanova, Skyro Head of Marketing.

“With a higher approval rate than traditional lenders, a nationwide presence in partner stores, and simple digital onboarding, customers can access credit where and when they need it,” Dmitriy added. “Repayment options are tailored to each customer’s needs, ensuring convenience and long-term trust.

Customers can apply directly for a Skyro product loan either in-store through Skyro agents located in major retail partner locations nationwide, or online via e-commerce partners. The application is fast, paperless, and provides an instant decision in as fast as two minutes, ensuring convenience across all regions.

For many Filipinos, Skyro serves as their first step into formal financial services, helping them afford products that were once out of reach.

The Skyro Product Loan also serves as the entry point to the dynamic Skyro ecosystem. For first-time customers, it answers immediate needs, while other products and features such as SkyroCredit and Skyro Flexi, extend the relationship by offering reusable credit lines for everyday use and the power to adjust loans within the app. Together, these create an integrated financial journey, supporting customers from their first purchase to long-term financial growth.

Launched in August 2022, Skyro has quickly earned recognition for its innovative digital financial services. It is now present in over 6,000 partner merchant stores nationwide with more than 1,000,000 loan customers.

Curious how Skyro is changing the way Filipinos shop? Try it yourself. Download the app for free on Apple Store or Google Play, or visit skyro.ph and follow its social media accounts on Facebook, Instagram, LinkedIn, and TikTok.