Turmoil to hit Mall Group
The Mall Group, Thailand’s second-largest retailer, expects political problems could wipe 2 billion baht off its sales during the festive season.
The slowdown would limit sales growth for the entire year to only 5-6% for 50 billion baht, said chief executive Paiboon Kanokwattanawan.
In general, consumers have been more cautious about spending money on shopping this year.
“We saw this trend and have placed more focus on launching activities to stimulate sales. We have received better-than-expected results,” Mr Paiboon said.
However, the political conflict has significantly affected the shopping atmosphere in the fourth quarter _ the peak sales season.
Political rallies in Bangkok have caused alarm in foreign countries, with many issuing travel advisories. Some travellers cancelled plans to visit Thailand.
Siam Paragon, where about 40% of sales are from foreign tourists…
Full story from Bangkok Post at http://goo.gl/4x2zfB
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