Thailand's leading real estate agent

Retail Industry Sees Growth of 3.2%

By on Jul 28, 2015 in Property News, Retail

The retail industry will see only thin growth of 3.2 per cent this year, as there are no encouraging signs for the remaining months, according to the Thai Retailers Association.

Jariya Chirathivat, the association’s president, said yesterday that households were still weighed down by heavy debt. Middle-to-lower-income earners have less money to spend. The drought has dried up the purchasing power at the grass roots, particularly among farmers.

The government should promote a spending atmosphere, especially through stimulus campaigns for tourism and services, he said. Such measures would persuade middle- and upper-income earners to spend more on domestic travel.

Import duties on luxury fashion brands should be slashed to attract foreign shoppers, Jariya added.

A Cabinet reshuffle, as long as it is done gradually, will not significantly affect the retail industry, he said.

The retail industry index in the first six months of this year rose only 2.8 per cent year on year because of negative factors both inside and outside the country, which caused people to suspend their purchasing activities.

Many durable goods, including construction materials and electrical appliances, showed growth at only 2.7 per cent, and at 3 per cent for fashion products and ornaments.

Many durable goods, including construction materials and electrical appliances, showed growth at only 2.7 per cent, and at 3 per cent for fashion products and ornaments.

For the full article click here

Source: The Nation – 28 July 2015

No comment





 

emailSubscribe Via Email

Privacy guaranteed. We will not share your information.

Follow Me on Twitter

Follow Me on Facebook

Subscribe via RSS Feed

Copyright © 2020 CBRE (Thailand) Co., Ltd. All Rights Reserved.