Just-released research from the World Gold Council shows firms in Thailand are the biggest users of gold for marketing purposes in Asia. Thai companies
spent 436.13 million baht on a total of 80,024 baht gold in sales promotion activities last year.
Of the gold used this way, most of it was in the form of gold jewelry and gold bars and given away in consumer firms and automotive manufacturers during TV
programs and sales promotion activities. These activities raised gold consumption in Thailand to 67.7 tons last year, up from 48 tons the year before.
The World Gold Council separates businesses that use gold jewelry or bars as awards into seven categories: vehicles and parts and oil, food and milk
products, consumer products and electrical appliances, beverages, game shows, department stores, and others.
Last year, the vehicles, parts and oil business spent the most on gold for marketing purposes. It used up to 49,544 baht of gold, worth 270 million baht.
Isuzu was the biggest spender in this group, using 39,036 baht of gold, worth 212.75 million baht.
The second biggest user of gold in terms of business group was the food and milk sector. Some 14,956 baht of gold, worth 82 million baht, was bought.
Dutchmill, a milk product, used the most gold in 2000, about 5,000 baht of gold at a cost of 27 million baht.
The third biggest users of gold were firms in the consumer products and electrical appliances sector. About 9,995 baht of gold, worth 54 million baht, was
acquired and given away. Rosso, the underwear for men, was the biggest spender here at 3,900 baht of gold, worth 21.25 million baht.
In fourth spot was the ‘others’ group, which is made up of companies that award gold to their salespeople and staff. This sector recorded 2,128 baht in
gold used, worth 11.6 million baht.
In fifth position was the TV game show, Game Pissawong. The program’s producers made use of 2000 baht of gold in 2000, at a price tag of 11 million baht.
The sixth biggest user was the beverage group. Companies in this segment gave away 1,400 baht of gold at a cost of 7.6 million baht. Master Blend used the
most gold here: 400 baht in weight at a cost of 2.2 million baht.
World Gold Council manager for Thailand, Dan Sornmani said, “Consumer firms often adopt sales promotion activities or sponsor TV game shows to promote
their products and when they do they often give away gold jewelry or gold bars as prizes because gold is wonderful gift. It retains its value unlike a car or a house.
“We encourage consumers firms to select gold of 96.5% standard for any giveaway. Gold bars are an alternative to gold jewelry and offer the advantage of
being VAT free.”
Ms. Ruth Zukerman