Thai consumer behavior 2019

1. Thai consumer behavior in the 4.0 era, prefer to stay at home, focus on online entertainment and consume various media channels.

According to the EIC consumer behavior survey, more than 60% of consumers stay at home rather than outside. Moreover, the research shows that more than 75% of them spend most of their time on watching TV series and listening to music, while 74% spend time on social media. Because consumers can now choose to consume any medias that meets their preferences, business utilize those channels to reach potential consumers faster and more efficient than ever. However, this trend began to decline among the Elderly, who prefer to spend time on books, exercise and hobbies.

2. Spending free time on Eating Out and Shopping

Although most consumers prefer to stay at home, but the survey found that compared to the past 5 years, about 60-70% of consumers are changing their behavior, doing outdoor activities more often, especially among teenagers and high-income groups. These activities allow them to relax from high-pressure work.

3. Travelling become the highest expense

The survey shows that if f revenue increases more than 20%, most consumers are willing to spend them on travelling, and is likely to increase with age. The fact reflects new lifestyle that people tend to focus more on buying new experiences.

4. Needs to improve housing when getting older and higher income

Especially among 50-60 years old, reflecting the demand of living in a better condition. Also, these group of people tend to consume fewer consumer products. Therefore, it is one of the most tempting business opportunities to developing products and services to serve the needs of this target group.

5. Concern about health conditions, but no time to do exercise

Although Thai consumers have health concerns, but only about one-fifth of those exercise regularly, even though exercise is the basis of good health. However, consumers tend to consume healthy food, one of the reasons doing so is to build their image on social media. The research shows that consumers at the age of 30-59 have highest needs to for dietary supplement and tend to increase as the age increases. Supplements are, therefore, an alternative opportunity to keep eyes on.

 

Source: Economic Intelligence Center