Retailers have called for more stimulus packages to spur spending and continued cost-reduction programmes through subsidies on power and water bills, lending rates and expenses related to the Covid-19 pandemic.
Despite a spike in Omicron infections and a slower anticipated recovery pace for the economy, Yol Phokasub, chief executive of Central Retail Corporation Plc (CRC), believes the year of the tiger symbolises strength and bravery, which will lead to an upturn for the retail industry.
The government is ready to relax the rules to help small and medium-sized enterprises (SMEs) access loans from financial institutions more easily, says Finance Minister Arkhom Termpittayapaisith.
Restaurant chains and shopping centres are welcoming the extended service hours and relaxed curfew announced by the Centre for Covid-19 Situation Administration (CCSA).
Thailand's retail market is expected to contract by 12% this year, with a million workers likely to lose their jobs if the government fails to accelerate the provision of financial aid measures to operators as well as offer domestic consumption stimulus, warns an industry body.