Rising Tourist Arrivals Stimulates Retail Sales growth in Thailand: Ken Research

Retailing performance sees improvement in 2015.

High interests among the youngsters to shop online are expected to fuel the retail sales through online channel.

Thai government launches a new e-payment platform to become a cashless society

Ken research announced its recent production on “Retailing in Thailand market summary & forecasts, 2010-2020” which offers insights on the changing trends and key issues inside the Thailand Retail market. The production incorporates a shrewd investigation of the most recent trends in retail consumer shopping, covering the components driving retail shopping, customer insights, market trends and reviews of the most recent best practice in retail site design. It likewise provides information to forecast and historic retail sales furthermore incorporates data on the business environment and country risk related to Thailand’s polish retail environment. In addition, it has comprehensive knowledge on fastest growing product categories and also on the key international and domestic players operating in the Polish retail market-including store counts and revenue. Retail sales and fastest-growing product categories have covered 26 product categories across 12 product sectors including categories such as footwear, clothing, books, news and stationary, electrical and electronics, food, health and beauty, furniture, sports and leisure equipments. This report will guide to explore the novel opportunities and align the marketing strategies with the latest trends influencing consumer behaviour.

Thailand is the second-largest economy in Southeast Asia, after Indonesia and ranks second in Southeast Asia in external trade volume, after Singapore. Thailand’s unemployment rate is quite less, reported as 0.9 percent for the initial quarter of 2014. This is because of a large segment of populace working in subsistence agriculture or on other vulnerable employment. Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product.

Digital technology is making consumers’ lives convenient. Consumers have the decision of looking for merchandise online through PCs, tablets or smart phones. They likewise have numerous payment options, including cards, cash, money transfer and counter services, with the products purchased subsequently delivered to designated locations. Key store-based retailers have moved towards a multi-channel methodology. Internet shopping is turning out to be huge in value sales terms. Moreover, store retailers implement both offline and online advertising and promotions to capture all segments. Online networking, for example, Facebook and Instagram are progressively critical apparatuses empowering direct access to end-customers, expanding the viability of advertising and promotional activities.

Overall value sales through retailers witnessed a superior execution in 2015 compared with 2014 as the domestic political and financial circumstances turned out to be more stagnant. Retail players geared up expansion of new outlets in both Bangkok and non-urban regions. The developing number of middle-income customers in the territories upheld the expanding number of outlets. Not just store-based players make forceful moves; non-store sales likewise recorded strong value development in 2015. Grocery, fashion and sport products witnessed more noteworthy popularity within the store-based channel. Non-grocery products such as consumer electronics and appliances dominate non-store retailers’ sales.

Topics Covered in the Report