Filipinos especially our Catholic Folks are celebrating this momentous occasion in solemnity. People go to church on that particular day and serves as a thanksgiving on the blessings that they receive. Mostly old people of the church attend on masses, rallies, vigils and gathering celebrated on that day. It is considered as a holiday of obligation to those who are active in the church.
Regarding the origin of the feast we are also uncertain. It is more probably the anniversary of the dedication of some church than the actual anniversary of Our Lady’s death. That it originated at the time of the Council of Ephesus, or that St. Damasus introduced it in Rome is only a hypothesis.
According to the life of St. Theodosius (d. 529) it was celebrated in Palestine before the year 500, probably in August (Baeumer, Brevier, 185). In Egypt and Arabia, however, it was kept in January, and since the monks of Gaul adopted many usages from the Egyptian monks (Baeumer, Brevier, 163), we find this feast in Gaul in the sixth century, in January [mediante mense undecimo (Greg. Turon., De gloria mart., I, ix)]. The Gallican Liturgy has it on the 18th of January, under the title: Depositio, Assumptio, or Festivitas S. Mariae (cf. the notes of Mabillon on the Gallican Liturgy, P. L., LXXII, 180). This custom was kept up in the Gallican Church to the time of the introduction of the Roman rite. In the Greek Church, it seems, some kept this feast in January, with the monks of Egypt; others in August, with those of Palestine; wherefore the Emperor Maurice (d. 602), if the account of the “Liber Pontificalis” (II, 508) be correct, set the feast for the Greek Empire on 15 August.
All I know this is the general feast of the Virgin Mary, and we should give respect to Her as the Mother, “Nanay” of our lord Jesus Christ! My mother also said to me every prayer that you address through her will be 60%, most of the time, will be granted.