New Year: Bangkokians expected to spend more than THB30.8 billion, and to be more selective about recipients and gifts (Current Issue No.2944)

          KResearch survey reveals that more than 59 percent of the respondents choose to celebrate the 2019 New Year in Bangkok, which is close to last year's figure of 60 percent, due to heavy traffic, the crowded atmosphere and concerns over their spending power. However, most of the respondents have made their plans and prepared their budgets for this special occasion, particularly for gift purchases and parties, which are the two most popular activities of Bangkok residents.

            Gift offering is the number one activity of Bangkokians, or 55 percent of the respondents, mostly for important persons in their family and for lucky draws in their workplace. The types of gifts differ, including healthy items (vitamins and dietary supplements), gift baskets and apparel for family members; and IT gadgets (power banks, mobile covers, earphones), electrical appliances and chocolate/cookies for lucky draws at offices, which are gifts that  focus on functionality and responsiveness of all groups of recipients.

            KResearch estimates that Bangkokians' spending during the New Year may stand at around THB30.8 billion, up 4.1 percent from last year, or equal to THB5,600 per person. The rise may stem from higher prices of goods and food. This year, the government's spending boosting measure (“Shop Chuay Chart") is not eligible for tax reduction in all types of consumer products (only for books and OTOP goods), and most of the recipients of the THB500 New Year's giveaway from the government for low-income earners are in provincial areas. However, retail businesses are likely to intensify their sale promotions throughout the festival period, especially discount and lucky draw events that are expected to attract Bangkokians to spend more at retail shops.

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