The Sunscreen market is flourishing this Songkran Festival with a projected value of not less than 1.2 billion baht this year owing to climate volatility, according to Kasikorn Research Center (KResearch).
KResearch reported that people usually leave the cities during the long Songkran holidays, and many go to the sea. Therefore, KResearch predicts, sun cream will be one of the products that will enjoy rising sales this summer, and will remain popular for the foreseeable future.
KResearch estimates that the domestic sun block market this year would be worth no less than 1.2 billion baht, an expansion of 15% year-on-year. Climate volatility and rising temperatures are the major positive factors boosting the sales.
KResearch indicated that choosing the right marketing strategies, like adjusting prices and product sizes to suit the market, are necessary amid the ongoing economic slowdown.
Hence, KResearch suggests entrepreneurs should closely observe and monitor consumers’ behaviors and attitudes in order to seek new opportunities or marketing channels as well as develop newer products to win more consumers.