But it isn’t so much government policy that is stimulating consumer spending but rather social trends which the Boston Consulting Group and Ali Research describe as three great forces of change. One indication of the trend is the rise of the use of virtual red packets known as “hongbao”, digital versions of the traditional red envelopes filled with cash and given as gifts. During the 2017 Chinese New Year holiday some retailers launched special promotions whereby potential shoppers approaching their stores were sent virtual hongbao. We are certain to see similar innovations this year as the growing spending power of young people drives consumer-spending patterns. Thai businesses, including tourist operators, should take note as these trends are very promising for those with an eye to an opportunity.

Source: The Nation Bangkok February 18, 2018 18:00 UTC