According to a report released by the Thai office of global research firm Mintel, seven out of ten Thais celebrate holidays at home due to the high cost of living. Celebrating holidays with family and friends remains a fundamental part of Thai culture, with 82% of the 1,500 Thais surveyed in December agreeing with the statement that getting together with others to celebrate is the foundation of holiday traditions.
However, with inflation rising to 46%, Thai residents reduced their restaurant visits in the last three months of 2022. During holidays and special occasions, almost half of Thais cook at home (47%) instead of going to restaurants (31%), according to the report. Most of the rest order take-out or buy pre-cooked meals.
“While Thais today view Covid-19 as a less threatening problem, they continue to face the economic crisis, prompting them to celebrate holiday events at home,” said Vilasini Siribunpipattana, Senior Lifestyle Research Analyst at Mintel Reports Thailand.
Some brands are finding opportunities to capitalize on this trend, such as launching special offers to provide consumers with a more convenient way to celebrate without breaking the bank. The study also found that Thais pay more attention to prices, with 45% of those surveyed saying they wait for discounts before shopping.
Author of the article: Ekaterina Antonova
