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Thailand Bangkok Retail Sector sees 9% Growth for This Year

By on Nov 27, 2013 in Retail

The Thailand retail sector expects to achieve 9-per-cent growth in 2013 – despite the current political tension – with heavy sales and promotional campaigns planned for the remaining period of this year, which is typically the high season for retail sales.  The Thai Retailers Association had earlier projected 12-per-cent growth for this year, but has revised the figure down to 9 per cent for 2013 as the rising cost of living and increasing household debt (such as for car- and home-loan instalments) have weakened consumers’ purchasing power. The government’s stimulus measures to boost domestic demand are also forcing low-income consumers to be more cautious in their spending.

Consumers at all income levels tend to be more cautious in their spending as reflected by the indices of consumer confidence and business operators’ confidence reported by various institutions, which all pointed to a Thai economic growth slowdown.  According to Central Pattana (CPN) senior executive vice-president for finance, accounting and risk management Naris Cheyklin, the current political situation will not be prolonged and should ease and end without violence. CPN manages the Central Plaza department stores, Central Festival and Central World. CPN will try to stimulate domestic spending in the remaining period of this year. The Thai economic outlook next year should improve, as well as exports, in line with the improving global economy. CPN projects 18-19 per cent revenue growth this year, up from its 15-per-cent growth target.

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