Market researchers and brand marketers usually use five socioeconomic classes — Class A, B, C, D, E — when describing income segments of a population.
In the Philippines, it’s tough to describe who really comprise these segments and how big the segments are due to lack of credible and substantive researches.
Who are considered “rich” in the Philippines?
It’s supposedly easy if we define “rich” as those belonging to the list of the Top 10 Richest Filipinos. However, even if your net worth does not run into billions of pesos, you may still be considered “rich” as per the definition of the National Statical Coordination Board (NSCB).
