Retail in Asia

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Amway sees growth slow with drought in Thailand

Drought and falling farm prices will see direct-sales company Amway (Thailand) turn in only modest sales growth this year to THB16.3 billion (USD452.1m).

Those negative factors and the ongoing economic slowdown have hurt consumer spending, particularly in rural areas, with rubber and rice prices down and farmers earning less, managing director Kittawat Ritteerawee said.

The purchasing power of upcountry consumers has seen a clear drop, while Bangkokians’ spending remains healthy. Amway has earmarked THB300 million to convert 30 Amway shops in prime locations to a more modern concept over the next four years. Nationwide, there are 83 Amway shops where members can buy products.

(Source: Bangkok Post)