BANGKOK, Jan 24 (TNA) – Spending by Bangkok populace will reach 13.5 billion baht during the Chinese New Year, Kasikorn Research Center projects.
A poll, conducted by KResearch on their purchasing power showed people are quite cautious on spending and opt for more economical activities.
However, the think tank has a positive view on the government’s stimulus measures such as refunds on value-added tax (VAT) for purchases during the Chinese New Year.
It forecasted that spending by Thai Chinese, residing in Bangkok will stay around 13.5 billion baht, a slight increase of 0.9 per cent. The increase spending is mainly on making merit and travelling.
The KResearch viewed that retailers should consider inventory planning with suppliers to make sure it is in line with economic condition.
It also suggested that retailers should publicize promotional campaigns in accordance with the government’s refunds on value- added tax to stimulate consumers’ spending during the period. (TNA)
