KASIKORN RESEARCH CENTER (KResearch) is of the view that the state is taking an important role in creating impartiality within wholesale and retail trade following the Cabinet's consideration on the draft Retail and Wholesale Business Act B.E……. on March 27, 2007, though not approved yet, resolving to revise some points of the Act to make them clearer and more concise. However, it is a good start toward the development of Thailand's retail trade law because we do not yet have a modern and up-to-date retail trade law that conforms to the present situation.
In addition, this law also has a good intention toward reorganizing the system in all types and sizes of retail and wholesale business to coexist with fair competition and offer more alternatives to consumers in their selection of shopping venues and selection of goods. It is advised that the enactment be expedited to enforce the law rapidly and that the government imposes clear measures to enhance competitiveness, including being fair to all parties and enabling Thailand's retail trade to have sustainable growth and benefit for all concerned parties.
During the draft stage of the Retail and Wholesale Business Act, there will be no certain date of enforcement. The major retailers are continuing with their planned business operations, including smaller-sized branch expansion, reassuring consumers about safety, providing marketing plans for the society that would create a better image toward the consumers' opinions and reducing violent protests as well as arranging prominent promotional campaigns. Meanwhile, some traditional retail business entrepreneurs are still being affected considerably by the immoderate growth of modern retail business organizations and economic sluggishness. As a result, they have to adjust their strategies for survival more than the competition does. The strategies that they should apply are analyses for finding appropriate market positioning. Moreover, they should present products and services in line with targeted consumer demand by developing their shops to sell more specific products, improve shop atmosphere, be more systematic for the convenience of customers, manage costs to keep them as low as possible, and plan risk management in every aspect of their business. In addition, entrepreneurs should be ready for changes that might occur in the future, where changing conditions and tough competition will persist.
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