The COVID-19 pandemic is transforming consumer spending habits and lifestyles around the world, including Thailand.
According to Siam Commercial Bank’s Economic Intelligence Center (EIC) in Thailand, increasingly restricted movement of the public and limited outdoor activities caused by the health crisis are driving more consumers in the Southeast Asian nation towards e-commerce.
With the nationwide curfew and closure of department stores, eateries and marketplaces in several provinces, more people in Thailand are gradually becoming more dependent on digital connectivity, as the country battles the ongoing pandemic.
This benefits some companies more than others.
“Although retail businesses, in general, have felt a considerable impact, there are still some segments that have managed to grow amid the crisis, such as convenience stores and e-commerce. Large-scale retail stores are likely to take a big hit from the fact that consumers are avoiding crowded areas and opting for small retail shops or online shopping instead,” EIC said in a report on Mar 31.
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