BANGKOK, 16 Feb 2015, The Department of International Trade Promotion (DITP) has suggested that Thai businesses focus on the elderly in Japan, saying the group has enormous spending power and demands for various products are rising.
According to DITP Director-General Nantawan Sakuntanak, the recent survey shows that this group tends to spend their retirement and money on traveling, relaxation & recreation activities the most; followed by hobbies, food and preserved food for future consumption. They also spend their money on real estates, home decoration, outfits, and cosmetic as well as health products.
She further explained that the group had both time and resources. They funds is usually derived from their investments of their pension, which generates more income for retirement spending, Ms. Nantawan said.
The DITP office in Osaka has, however, warned Thai entrepreneurs to ensure that their products are of top-of-the-line quality, as Japanese customers value quality first before price.
