Thai Restaurants Struggle with Rising Costs
Restaurant operators in Thailand face rising costs and stagnant growth. Thanapong Vongchinsri of Penguin Eat Shabu highlights that costs have risen over 5% in two years and the market is not growing due to weak purchasing power. Emphasizing unique selling points and online marketing is key to attracting customers amid economic challenges.
Restaurant operators in Thailand are facing significant challenges due to rising costs, including raw materials, rental fees, and management expenses, which have increased by more than 5% over the past two years.
According to Thanapong Vongchinsri, owner of Penguin Eat Shabu, the domestic restaurant market is stagnant due to weak purchasing power amid current economic conditions.
With the government's 10,000-baht digital wallet handout scheme, there is hope for a short-term boost.
To thrive in this highly competitive market, restaurants must emphasize their unique selling points, use online marketing tools effectively, and adapt to evolving customer preferences.
Thanapong advises that restaurants should focus on storytelling and clear, distinctive concepts to attract and retain customers.
According to Thanapong Vongchinsri, owner of Penguin Eat Shabu, the domestic restaurant market is stagnant due to weak purchasing power amid current economic conditions.
With the government's 10,000-baht digital wallet handout scheme, there is hope for a short-term boost.
To thrive in this highly competitive market, restaurants must emphasize their unique selling points, use online marketing tools effectively, and adapt to evolving customer preferences.
Thanapong advises that restaurants should focus on storytelling and clear, distinctive concepts to attract and retain customers.
