Thai consumers set their priorities right

New alternatives: People walk past a store closed for renovation in a shopping mall in Bangkok. The pandemic has prompted many Thai consumers to explore different shopping channels. — AFP

BANGKOK: A study on consumer payment attitudes by Visa showed nearly half of all Thai consumers (45%) were likely to avoid using cash after the Covid-19 pandemic ends.

The study also delves into which activities Thai consumers are looking forward to spending on when recovery is underway.

The top three activities are: travelling within Thailand (35%), travelling abroad to Covid-safe destinations (29%) and taking small getaway trips in their own city (19%).

Suripong Tantiyanon, country manager, Visa Thailand, said: “The pandemic has had a massive impact on how people live, work and shop both in Thailand and globally.

“As we have crossed the one-year mark since the pandemic hit, we are taking a look at how events in the past are shaping our future.

“We are privileged to be able to conduct this study and share findings that we believe will help everyone prepare for back-to-business scenarios.”

According to the study, other behaviours that are likely to become a new normal post-Covid are wearing a mask (62%) and avoiding crowds (43%).

The situation has also prompted many Thai consumers to explore different shopping channels.

The most popular channels used for the first time during Covid are shopping on apps and websites (65%), using direct delivery at home after ordering by phone from local shops (47%), and shopping on social media channels (44%).

Thai consumers were forced to rethink spending priorities. According to the respondents, spending categories that experienced the largest reduction were international trips (63%), going to cinemas or events (60%), buying luxury items like bags, watches and jewellery (60%), fine-dining (58%), well-being treatment (57%) and buying new clothes (54%).

Looking ahead, in addition to domestic, international and small getaway trips, Thai consumers are preparing to resume spending on gadgets (16%), groceries and personal care items (15%), and going out to enjoy fine-dining and out-of-home entertainment (10%).

Less than one in 10 plans to upgrade home appliances (9%) and spend on fashion and clothing (8%). — The Nation/ANN

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