This year’s Chinese New Year falls on Saturday, February 10th, leaving time for celebrants to find auspicious home decorations to bring more luck, abundance and prosperity into the house for the upcoming festival.
In Bangkok’s Chinatown, items such as Chinese lanterns and blessing banners, known as “Duilian couplets,” are in high demand. With this year being the Year of the Dragon, products related to dragons, especially Chinese dragon ornaments ranging from 3 to 5 meters in length, are selling out quickly. Traders report that merchandise related to the Chinese New Year is selling well both in physical stores and online platforms. Customers from various provinces have been purchasing goods since the beginning of January. The majority of customers visiting stores currently are from Bangkok.
Despite ample preparations, shop owners see insufficient goods for sales some days, particularly on weekends. The influx of customers necessitates additional sales staff.
The atmosphere in Chinatown is bustling, with Thai locals purchasing home decorations, ordering auspicious offerings, and tourists exploring. This aligns with consumer spending behaviors during the Chinese New Year season.
According to economic forecasts by the Economic and Business Forecasting Center of the Thai Chamber of Commerce, spending during this year’s Chinese New Year is expected to increase by approximately 10%, totaling over 50 billion baht, compared to last year’s 45 billion baht. This reflects economic recovery and government stimulus measures. However, prices of certain goods have risen, prompting some to be cautious about spending and opt for more durable purchases.
Concerns also arise regarding the increase in prices of essential items during the festive season and the higher costs associated with travelling. Nonetheless, it is anticipated that this year’s Chinese New Year will attract a significant number of international tourists, particularly Chinese nationals, with an average of around 80,000 visitors per week. This influx is expected to impact spending and contribute to the vibrant atmosphere of the celebration. (TNA)
