Research Centre

Bangkok Retail MarketView Q3 2018


06 Dec 2018

Retail Sales and Consumer Confidence Improved Following Ongoing Economic Recovery

The retail sales index in May 2018, as estimated by the Bank of Thailand (BOT), was 275.22, a 17.74% increase Y-o-Y. The improved retail sales were due to recovering economy. Thailand’s Consumer Confidence Index (CCI) reached 82.3 in September 2018, a 9.73% increase Y-o-Y. Nonetheless, household debt remained high at 77.5% of total GDP (latest data available as of Q2 2018), which still affects the spending power of consumers.

Despite the positive outlook on macro-economic indicators, many major retailers reported flat same-store-sales growth (SSSG) due to weak domestic consumption. Bangkok’s total retail supply as of Q3 2018 was 7,473,961 square metres, increasing by 2.23% Y-o-Y. The largest retail development completed in the third quarter of 2018 was the Singha Complex with 5,300 square metres of net lettable area, followed by Avenue Lasalle, a roadside community mall by TCC Group with 5,000 square metres of net lettable area. The expected new supply in Q4 2018 is approximately 160,000 square metres, which will bring the total new supply in 2018 to nearly 250,000 square metres.

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Bangkok_Retail_MarketView_Q3_2018.pdf
James Pitchon
Executive Director

Phone: +66 2 119 2901
Fax: +66 2 685 3307
CBREThailand
Executive Director
james.pitchon@cbre.co.th
Sales Staff
Jariya Thumtrongkitkul
Associate Director - Retail Services

Phone: +66 2 119 2792, +66 2 119 2795
Fax: +66 2 685 3307
CBREThailand
Associate Director - Retail Services
jariya.thumtrongkitkul@cbre.co.th
Sales Staff