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Industry Outlook Analysis

15 Oct 2021


Retail sales in 4Q21 signals post-lockdown recovery amid cautious spending (Current Issue No.3278)

KResearch views that the COVID-19 situation and vaccine accessibility have improved to the point that the government has eased many lockdown measures, allowing more economic activities to resume operations in the final quarter of 2021. Since many businesses are expected to launch campaigns to boost ... Read more

8 Oct 2021


Private hospitals 2021 likely to see revenue recover from low base though cost management and intense competition continue to affect business (Current Issue No.3277)

KResearch projects that the revenue of private hospitals in 2021 will grow 11.8 percent YoY, as opposed to 2020 which saw a contraction of 12.5 percent. Such recovery can partly be attributed to the low base of the previous year while revenue remains below pre-COVID-19 levels. Most of private hospit... Read more

14 Sep 2021


B2C e-commerce (for products only) set to surge over 30% in 2021; online merchants face challenges from diminished purchasing power and tougher competition (Current Issue No.3268)

KResearch projects that the 2021 B2C e-commerce (for products only) will likely expand 30 percent YoY, with an estimated value of THB 300 billion. Its growth is mainly attributed to the COVID-19 pandemic which has altered consumer behaviors including the number of buyers and product diversity. At th... Read more

8 Sep 2021


Impact of E-Service Tax on Users of Foreign Digital Service Platforms (Current Issue No.3266)

As Thailand is transitioning towards a digital economy amid the increasing role of technologies in the business sector and our everyday life, including trading, entering into business agreements, and conducting financial transactions via digital platforms at home and abroad, plus the fact that such ... Read more

1 Sep 2021


Home Health Services: Option during COVID-19…2021 Turnover Projected to Reach at Least THB2.2 Billion (Current Issue No.3260)

ศูนย์วิจัยกสิกรไทย ประเมินว่า ศูนย์วิจัยกสิกรไทย ประเมินว่า ในปี 2564 มูลค่าการใช้จ่ายสำหรับบริการทางการแพทย์ที่บ้านของไทย จะอยู่ที่ 2,200 – 2,300 ล้านบาท เติบโตได้เล็กน้อยที่ 2.4% (YoY) แม้ว่าตลาดจะเติบโตได้จากการเพิ่มขึ้นของผู้ให้บริการ ประเภทการบริการที่หลากหลายขึ้น รวมทั้งสถานการณ์โควิด-19 ที่ทำ... Read more

19 Aug 2021


COVID-19 and outbreak control measures spur growth of food delivery market at 18.4 – 24.4 percent in 2021 (Current Issue No.3256)

Amid heightened COVID-19 control measures, food delivery service has become the primary income channel for restaurants. Marketing via online food delivery platforms, including promotional discounts and delivery fee waivers for restaurateurs, has also helped to attract new customers and increase orde... Read more

6 Aug 2021


Elderly assistive devices market to reach THB 8 billion in 2021… consistent with Thailand’s trend towards an aged society (Current Issue No.3252)

KResearch projects that the value of medical equipment and assistive devices for the elderly in Thailand will amount to a range of THB8-9 billion in 2021, and register an compound annual growth rate (CAGR) of 7.8 percent over the next five years as Thailand is approaching an aged society status. The... Read more

27 Jul 2021


Private hospitals reliant on medical tourism to encounter difficulty in 2021-2022 amid ongoing COVID-19 outbreak (Current Issue No.3248)

Private hospitals are one of the businesses that have been severely affected by the COVID-19 outbreaks, especially private hospitals that are normally reliant on revenue from foreign patients through medical tourism. Like regular international travelers, medical tourists are presently unable to trav... Read more

14 Jul 2021


Growth potential for health tech in Thailand amid rising demand for health services (Current Issue No.3243)

In KResearch’s view, spending on health tech in Thailand remains modest, at around THB 300-400 million in 2021. However, the COVID-19 pandemic has quickly elevated the role of technology in health services as it helps to reduce risk and provides greater convenience to patients. Moreover, Thailand’s ... Read more

5 Jul 2021


Restaurant business 2021 likely to suffer THB 55 - 70 billion in lost revenue compared to previous year amid rampant COVID-19 outbreak (Current Issue No.3237)

With the recent wave of COVID-19 in Thailand, the number of daily cases has surged in many areas, particularly the Bangkok Metropolitan Region (BMR), which is categorized as a zone of maximum and strict COVID-19 control. This development has prompted the government to raise COVID-19 control and prev... Read more

21 Jun 2021


Retail Business, 2021: Contracting 2.0%…Eyeing Vaccine Rollout to Help Restore Consumer Spending (Current Issue No.3230)

KResearch maintains a cautious view towards the retail business during the remainder of 2021. For 2020, we expect that retail sales will contract 2.0 percent YoY. However, close attention must be paid to vaccine rollout at home over the coming few months (June-September), and whether there is a pote... Read more

8 Jun 2021


Online learning: Expenses pose challenge to low-income parents (Current Issue No.3229)

The 2021 school year marks yet another year that sees students taking their classes online. Some educational institutions have organized online sessions ahead of the new school term, which is presently set to begin on June 14, 2021. KResearch conducted a survey in the Bangkok Metropolitan Region to ... Read more

30 Apr 2021


New COVID-19 outbreak stifles restaurants’ recovery in 2021; slump to continue from 2020, with projected revenue merely THB 382 – 394 billion (Current Issue No.3216)

Restaurants face ongoing challenges after the emergence of the third COVID-19 wave. While as of this writing the government has yet to announce a lockdown or ban dining-in at restaurants, the restrictions on restaurants’ business hours and consumer anxiety towards on-premise services have even more ... Read more

26 Apr 2021


Third COVID-19 wave inhibits growth in domestic spending on food and beverages, likely to rise 0.5% in 2021 if crisis is resolved within 3 months (Current Issue No.3212)

The impact of the third COVID-19 wave is set to hinder consumer spending on food and beverages for 2021. As a result, businesses in this sector will continue to face difficulties in raising sales throughout the year. KResearch assessed that under a base-case scenario which sees the outbreak containe... Read more

18 Feb 2021


Wider Generation Gap Prompts Businesses to Place More Emphasis on Specific Needs of Consumers (Current Issue No.3190)

The economic recovery of Thailand’s trading partners should see further improvement from the previous year as they continue to adjust to the COVID-19 pandemic. Many countries still rely on importing goods from Thailand, especially IT products, which have steadily displayed signs of accelerated growt... Read more

25 Dec 2020


Restaurants 2021: High risks and challenges remain amid fragile growth; investors advised to maintain caution (Current Issue No.3175)

KResearch views that the business environment for restaurants in 2021 is still fraught with risks as in the preceding year, as a new wave of local COVID-19 transmission, fierce competition among businesses and the yet-to-recover purchasing power will affect any recovery of restaurants in 2021 to var... Read more

9 Dec 2020


Private hospitals 2021: Revenue to recover amid challenges and heightened competition (Current Issue No.3167)

Under the assumptions of no second wave of local COVID-19 outbreak, the government’s gradual easing of travel restrictions to allow for more international travelers and no escalation of domestic political situation, KResearch projects that the revenue and profit of listed private hospitals will make... Read more

26 Oct 2020


Global Supply Chain Management Shifts to Just-in-Case System to Cope with Uncertainties Surrounding Global Supply Chain Disruption (Current Issue No.3151)

As global supply chains have been stalled by the coronavirus (COVID-19) pandemic, industrial sectors around the world are now aware of the weaknesses arising from the just-in-time inventory management strategy. Amid increased risks stemming from the resurgence of COVID-19 and trade war, the world’s ... Read more

30 Sep 2020


Cloud solutions service…key driver of B2B digital market amid COVID-19 crisis, growing 19% in 2020 (Current Issue No.3145)

The COVID-19 pandemic has prompted many businesses to rely more on the use of digital technology in their operations, leading to dramatic changes across the operational landscape of business-to-business (B2B) digital market, from solely focusing on elevating efficiency and creating new business chan... Read more

29 Sep 2020


Retail Business, 4Q20: Contracting Only 7.2%, Thanks to Government’s 3,000-Baht Cash Handouts (Current Issue No.3144)

KResearch views that the government’s 3,000-Baht cash handout program (50 percent of all spending is subsidized by the state, but not exceeding THB3,000), effective October – December, 2020, for 10 million people has conditions that differ from other previous stimulus measures such as the “Chim-Sho... Read more

17 Sep 2020


Cross-Border Data Flows: Helping Thailand Attract Investment during the Digital Era, but Efforts Must Be Accelerated to Find Partners (Current Issue No.3136)

Presently, cross-border data flows are imperative for business growth and global trade in the digital economy era. Business organizations now view that they have to rely on cross-border data flows in order to better understand market conditions and customers, as well as for international trade and s... Read more