Shift in Buddhist Merit-Making Practices Presents New Business Opportunities
Evolution of traditional practices leads to growth in retail sector and emergence of digital methods
The manner in which Buddhists engage in merit-making has undergone a significant transformation, adapting to modern lifestyles.
While traditional practices such as purchasing offerings for monks, visiting temples to make donations, or releasing animals as a form of merit still exist, they are now complemented by alternative and increasingly digital methods.
The majority of Buddhists continue to prefer making merit by offering bundles of essentials like rice, dried food, medicine, and daily necessities.
As of April 30, there were 2,766 registered legal entities operating in this category, with a combined registered capital of 12.09 billion baht.
Within this group, 23 businesses specifically stated that they sell offering sets, with a combined registered capital of 46.4 million baht.
Most sellers of offering sets operate as general retail shops and are often not registered as legal entities.
Registered businesses in this sector have a combined registered capital, and there is potential for growth if unregistered entities enhance their management systems and transition into formally registered entities.
While traditional practices such as purchasing offerings for monks, visiting temples to make donations, or releasing animals as a form of merit still exist, they are now complemented by alternative and increasingly digital methods.
The majority of Buddhists continue to prefer making merit by offering bundles of essentials like rice, dried food, medicine, and daily necessities.
As of April 30, there were 2,766 registered legal entities operating in this category, with a combined registered capital of 12.09 billion baht.
Within this group, 23 businesses specifically stated that they sell offering sets, with a combined registered capital of 46.4 million baht.
Most sellers of offering sets operate as general retail shops and are often not registered as legal entities.
Registered businesses in this sector have a combined registered capital, and there is potential for growth if unregistered entities enhance their management systems and transition into formally registered entities.
