Easing of measures has boosted confidence in retail industry
Thailand’s Retail Sentiment Index surged by 43 per cent in February compared to January, thanks to the government’s moves to ease Covid-related restrictions.
The Thai Retailers Association and Bank of Thailand conducted an online survey from February 15 to 23 on over 27,000 retailers nationwide, the association’s chairman Yol Phokasub said.
“Same-store sales, spending per bill and frequency of shopping rose month on month,” he said.
Consumer traffic and purchasing power also 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 said.
He called on the government to boost retailers’ liquidity by reducing taxes, granting soft loans and offering hourly employment.
“We expect retailers to be able to run their businesses for six months based on their remaining cash in hand,” he added.
