Retail Business Promotions to Cash in on Songkran (Business Brief No. 3270)

KResearch forecasts that Bangkok residents will go on a spending spree during this year's Songkran that may generate income of at least THB5.0 billion for retailers, a rise of over 10 percent YoY. Among the beneficiaries would be department stores and souvenir shops.

Despite a rising cost of living exacerbated by surges in fuel and consumer goods prices, spending may be invigorated during this year's ‘Water Festival', by an ongoing economic recovery from last year's flooding plus wage and salary hikes that should be positive to consumer purchasing power.

Increasingly more prevalent marketing campaigns by retailers may spur more buying, especially impulse purchases. Emphasis will likely be placed on Songkran-themed promotions along with discounts on sought-after products, plus introduction of new 2012 summer collections, as well as staging of events to