Retail Closures Highlight Struggles in Thai FMCG Market
Thailand's FMCG market is in trouble as retailers shut down due to falling purchasing power and rising debt. Executive Ouychai Rangchaikul from Loxley Plc emphasizes the severe impact on rural areas and doubts any market recovery this year. Despite past government welfare boosting sales, current economic conditions are unfavorable.
Thailand's Fast-Moving Consumer Goods (FMCG) market is facing severe difficulties as multiple retailers shut down amid declining consumer purchasing power and rising household debt.
Ouychai Rangchaikul, first executive vice president at Loxley Plc, highlighted the worsening situation, particularly in rural areas where low-income earners are cutting back to necessities.
Loxley Plc, with over 80 years in FMCG, IT, energy, and services, reports that previous government welfare schemes had temporarily boosted sales but that market saturation and increased living costs are currently detrimental.
Rangchaikul predicts no market recovery for the rest of the year.
Ouychai Rangchaikul, first executive vice president at Loxley Plc, highlighted the worsening situation, particularly in rural areas where low-income earners are cutting back to necessities.
Loxley Plc, with over 80 years in FMCG, IT, energy, and services, reports that previous government welfare schemes had temporarily boosted sales but that market saturation and increased living costs are currently detrimental.
Rangchaikul predicts no market recovery for the rest of the year.
