BANGKOK, Sept 2 — The Kasikorn Research Centre, KResearch, projects that Bt800 million will be in circulation, a rise by seven per cent from last year, due to sales of mooncakes during the Moon or Mid-Autumn Festival this year.
The research house said each buyer is expected to spend some Bt590 to purchase mooncakes during the festival this year, Bt10 higher than the previous year.
Mooncakes are offered between friends or at family gatherings during the festival, which falls on September 8 this year.
According to Kresearch, higher spending on mooncakes is mainly due to higher prices for the products. and it expects people to purchase similar amount of cakes during this year festival.
It said factors that allow sales of mooncakes to grow despite the public’s sluggish purchasing power are regular customers, development of new styles of mooncalkes with different filling and design, and innovation of packaging.
The latter helps add value to products and expand customers’ base of retailers.
