BANGKOK (NNT) – Thailand’s Retail Sentiment Index surged by 43 per cent in February compared to January due to the government’s moves to ease Covid-19 restrictions.

Thai Retailers Association Chairman Yol Phokasub said the association and Bank of Thailand conducted an online survey from February 15 to 23 on over 27,000 retailers nationwide, and found that same-store sales, spending per bill and frequency of shopping rose month on month.

He said consumer traffic and purchasing power increased as people’s uncertainty over Covid-19 infections eased and many retail stores reopened. Confidence in restaurants, food and beverage stores also increased, pushing up the average sales value.

He called on the government to boost retailers’ liquidity by reducing taxes, granting soft loans and offering hourly employment as the association expects retailers to be able to run their businesses for six months based on their remaining cash in hand.

Source link

About the author

Leave a Reply

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thai Chamber of Commerce expects GDP to grow by 1.5% in 2021

With the relaxation of Covid restriction measures and the reopening of Thailand, 200,000 to 300,000 foreign tourists were now expected to visit Thailand this year and contribute to approximately 12 billion baht of income.

Thailand relaxes COVID-19 measures to help revive economy

During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.