Bangkok, The 1 Insight under Central Group. Revealing the results of consumer behavior analysis Found the overall retail market to be growing well. Important trends in 2024 include tourism. Health care trends and consumers are still more fully engaged in living outside their homes.
The 1 Insight stated that in 2023, spending numbers in the tourism sector will continue to recover compared to the previous year. The number of tourists returning to spend in Thailand increased by 47%, resulting in spending growth of up to 70%. It is expected that the growth will continue this year. The main groups of tourists come from Malaysia, China, South Korea, India and Russia, with fashion products being the most popular among these tourists.
As for the travel behavior of Thai people, there is also a tendency to travel both in Thailand and abroad more as well. The top 5 things that Thai people intend to do (New Year’s Resolutions) in 2024 are as follows: 1) 57% travel. Both domestically and abroad 2) 54% take care of thei
r health. Popular activities include exercising. Eat healthy food Change your bedtime and take supplements/vitamins 3) 41% invest and plan finances 4) 40% buy products as a reward for yourself Products of interest include mobile phones. Fashion/brand name products electrical appliance and accessories/jewelry 5) 37% spend time with family Whether it’s traveling abroad or different provinces together. to doing activities together such as cooking, etc.
Survey results show that Japan is the number one tourist destination. Spending by Thais abroad increased 31%, while sales of travel-related products grew significantly, such as luggage, which grew more than 42%, and cameras and video, which grew more than 39%, while Healthy food selection behavior results in higher sales in the fresh fruit and vegetable group. There is a growth of 11% in 2023 and it also results in sales in the sports and exercise product group growing up to 11%, with the outstanding products being sports shoes at 22%, including sales of vitamins
and dietary supplements which have grown outstandingly. 78% The interesting point is Sales numbers are the highest among Gen Z and Gen Y, which are younger groups compared to Gen General without age limit
In addition, it is a group of beauty products that has continued to grow since the post-COVID-19 era, especially cosmetics, which grew 13% and perfumes, which grew 6%, as well as the fashion product group. with outstanding growth in the fashion clothing group, growing 27%. In addition, the fact that people regularly spend their lives outside the home has also resulted in eating out becoming more popular, respectively. This is evident from the numbers of restaurant sales that have continued to grow, growing 6% in the past year.
From the above information It can be seen that the overall picture of consumer spending in the retail market has begun to grow continuously. The social atmosphere is fully returning to normal after Covid is resolved. along with economic numbers that improved sequentially causing more
and more people to come out and live life to the fullest which has a positive effect on a variety of products There is also a greater awareness of holistic health care in order to be able to enjoy a long life. It can be said that people give importance to Their ‘quality of life’ increases.
Source: Thai News Agency