Recently, according to Thai media news, a survey by NIQ, the world's leading consumer research and retail monitoring company, found that the overall consumption attitude of the Thai people this year will be more cautious, with as many as 84% of people planning to spend the same or less on holiday celebrations and social activities.
As for the above situation, due to the economic pressure and political uncertainty of the past few years, only a small part of the population intends to increase holiday spending. In any case, the overall consumer trend among Thais is to be more frugal, but the survey also shows that some people are willing to spend money on gifts or quality products.
Of those, 69 percent said they would spend money on high-quality ingredients to prepare a celebratory meal at home, 59 percent said they would spend more on eating out, and 39 percent planned to spend money on eating at a fancy restaurant. In addition to this, the survey also showed that Thai consumers value the quality and experience they receive more than the quantity or luxury of the items they own, with 71% believing that their values and lifestyle habits have changed since the pandemic.
Among them, 39% believe that the experience is more important than the thing itself, and this perception also leads to an increase in demand for travel during Songkran. All in all, the Songkran market is more active this year, and there are endless opportunities for companies to adapt their marketing strategies to meet the changing needs of consumers.