Bangkok, Thailand – A new study reveals Thailand is experiencing the highest levels of financial strain among four examined markets – China, Australia, adn Indonesia – as nearly 60% of Thai respondents report deteriorating personal finances or significant difficulty covering monthly expenses.
The research indicates only 40% of Thai consumers could fully cover their expenses in the last 30 days, sharply contrasting with 75% in China and 51% in both Australia and Indonesia. Generation Z in Thailand is particularly affected, with 60% reporting housekeeping difficulties; 49% can only cover part of their expenses, and 11% struggle to pay bills at all.
A concerning 59% of Thai respondents rate their personal finances as ”not vrey good” or “bad,” the highest rate among the surveyed countries. Moreover, 15% anticipate their financial situation will worsen in the next 30 days, exceeding rates of 7% in Australia, 4% in Indonesia, and 3% in China.
Despite economic pressures, the study notes Thai consumers continue to prioritize health, fitness, and wellness, maintaining investment in these areas. However, overall consumption is shifting towards seeking discounts and inexpensive options, particularly for food, household goods, and dining.
Marketing experts suggest companies focus on value, savings, and brand loyalty, utilizing strategies like step offers, loyalty programs, and targeted discounts. Building trust through storytelling, obvious pricing, and reliable interaction is also crucial to navigate consumer uncertainty and foster long-term relationships.