Thailand’s retail business tends to grow continuously: Kasikorn Research Centre

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BANGKOK, Jan 15 – Thailand’s retail business this year will tend to grow continuously at 15-20 per cent in value, according to the Kasikorn Research Centre (KRC).

The centre predicted that retail competition will be fierce, with investments by more small retailers of both Thai and foreign nationality, and there will be about 11,000 branches in total of all types of retail business in the country.

It said factors supporting retail business are the government’s policy of increasing income, investment in water management and infrastructure, and tourism expansion.

However, KRC warned entrepreneurs of risk factors which included the higher cost of living as a result of the minimum wage hike and of higher electricity and other energy costs.

The retail business atmosphere in the region will become more fierce once the ASEAN Economic Community (AEC) takes effect in 2015. Thai entrepreneurs are advised to identify their strengths and weaknesses in order to further develop the qualities and selling points of their products and/or services.