Display mode (Doesn't show in master page preview)

18 Jan 2023

Econ Digest

Spring Festival in the Year of the Rabbit…the spending atmosphere has improved for the first time in three years. Under prudent spending plans, Bangkok residents are expected to spend about 12.33 billion baht in total.


        KResearch views that although Chinese New Year in 2023 will likely see brighter prospects as compared to last year, driven by the easing of the COVID-19 situation and the “Shop Dee Mee Khuen” (shop and payback) scheme. However, consumers’ spending behavior must be adjusted to accommodate their available budget. This is because prices of Chinese New Year offering sets are likely to increase compared to last year. In particular, prices of some vegetables and fruits have risen by not less than 20%, while prices of meats such as fresh chicken may increase by 10%. Pork prices are lower compared to the same period of last year but remain high, overall. Given such circumstances, Bangkok residents participating in this year’s Chinese New Year activities still face pressures from product prices that have risen. This is consistent with the survey findings that the factors most influencing shopping behavior during Chinese New Year 2023 are rising product prices, purchasing power and cost of living, and concerns about the resurgence of the COVID-19 outbreak, respectively. In addition, the survey found that more than 57% of Bangkok residents will use the “Shop with Payback” right during Chinese New Year 2023,

        KResearch projects that Bangkokians' spending during the 2023 Chinese New Year will likely amount to THB12.33 billion, an increase of 5.0% YoY, which is a resumption of growth for the first time in three years. However, it is expected that after the Chinese New Year, Bangkokians will revert to planning their spending more carefully amid the high cost of living.

Scan QR Code

QR Code


This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow.

Econ Digest