Study finds Thais spend 20% more on consumer goods during festive seasons
Spending on fast-moving consumer goods over this New Year period likely surged by over Bt5 billion, sending registers ringing at supermarket and hypermarket chains.
According to a Nielsen study, New Year's contributed 40 per cent of the total Bt12.5 billion in additional consumer spending during festive seasons in Thailand last year.
Following New Year's, the festive seasons benefiting the FMCG market the most were Songkran with Bt3.7 billion in additional spending and the Vegan Festival and Chinese New Year's at about Bt500 million each.
Bangkok residents were the biggest spendthrifts during Christmas and New Year's, making up 52 per cent of the additional year-end spending.The biggest sales boost went to fruit juices.
Northeasterners were the thriftiest in year-end additional spending at only 8 per cent, however, when it came to Songkran, they were the biggest celebrators at 44 per cent, splurging on alcoholic drinks and seasoning sauces.
Super/hypermarkets remain the most popular channel for festive FMCG spending throughout the year with four out of 10 consumers opting to buy in bulk at one place, especially during the New Year season.
Driven mainly by sales of New Year baskets, the channel enjoyed an additional Bt3.7 billion of FMCG spending during New Year's.
The traditional trade is the second most popular choice for festival spending at 39 per cent, overthrowing super/hypermarkets during Songkran with overall spending of Bt2.7 billion driven mainly by sales of booze.
According to the Nielsen Media Spending Index, manufacturers spent 50 per cent more on TV commercials during festive seasons, clocking in at Bt5.58 billion in December alone, while retailers ramped up their flyer distribution by 40 per cent.