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The very strong growth that was being recorded in store card transactions value for much of the review period gave way to a negative performance in 2020. This can be attributed mainly to the shutdown of much of Thailand’s retailing industry for an extended period between March and May and the financial pressures that many Thai households are feeling due to the shutdown of the country’s hospitality and travel and tourism industries.
While store cards transactions volume was buoyed during 2020 by the increased use of this payment method for grocery purchases, the use of store cards to pay for transactions in non-grocery specialist retailers outlets declined substantially over the course of 2020. This contributed mainly to consumers conserving their finances at a time of economic uncertainty, with essential purchases such as groceries, fuel and medicines prioritised over non-essential items.
With the use of a store cards to pay for non-essential, non-grocery items in a slump since the onset of the COVID-19 situation in Thailand, many of the country’s leading chained non-grocery specialists spent much of 2020 paying special attention to boosting demand for their store cards. Home and garden specialist retailer HomePro for instance launched an aggressive promotional campaign for its store cards via its website during April 2020 under the tagline “4.
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Discover the latest market trends and uncover sources of future market growth for the Store Card Transactions industry in Thailand with research from Euromonitor's team of in-country analysts.
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Euromonitor’s industry reports, including Store Card Transactions in Thailand, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.