The Thai Retailers Association (TRA) forecasts retail sales growth of 6.3 percent this year, almost double last year’s rate, to THB980 billion (USD30 billion) thanks to improving consumer sentiment.
President Jariya Chirathivat said that rate would be about the same as in 2013. Among the TRA’s 113 member operators, health and beauty shops and convenience stores are expected be the main two retail segments expanding their outlets. "The retail outlook in 2015 will be brighter than last year so long as the government speeds up construction of its infrastructure projects such as double-track railways and high-speed trains to make Thailand a regional logistics hub,” Mr Jariya said.
He said if megaproject plans remained on track, they would generate higher income among Thais and revive the purchasing power of low- and middle-income customers, particularly white-collar workers. The TRA plans to approach the National Council for Peace and Order about formulating tourism measures aimed at stimulating purchasing power among the upper class.
(Source: Bangkok Post)