If the attendance to the Manila Book Fair and Mall of Asia Sale is proof of recession, then it only means that people are still really willing to spend, spend, spend!
And since Christmas bonus is just around the corner, I really encourage people to start looking at more tangible investments, especially those that are more long-term and will yield benefits. Like a major renovation perhaps, or a house. Or investment funds. And yes, it wouldn't hurt to also look into life insurance rates now. Or even a plot or two at the nearest resting place to your home.
Clothes and gadgets are nice, but we can really only generally wear or use one at a time. And these things may delight us but won't ever really bring us the kind of happiness that security, peace of mind and good health provides.