UTCC survey: Grocery store owners adjusting to competition, change in customer behaviors

 

   

BANGKOK, 28th March 2019 (NNT) – A recent survey conducted by the University of the Thai Chamber of Commerce (UTCC) finds that many grocery store owners in Thailand have to adjust their operations due to new competitors and a change in consumer behaviors.

 

The Director of the UTAH’s Economic and Business Forecasting Center, Dr. Thanawat Phonvichai, said the results of the survey on the status of grocery store operators show that they are facing new competitors, including small and large retail stores as well as online traders.

 

In addition, they have to deal with changing consumer behaviors and the lack of marketing and accounting expertise. Many of them have experienced lower sales due to higher product prices.

 

When asked about credit requirements, 47.99 percent of the grocery store keepers said they are in need of loans and most of them want credits in the system to enhance business liquidity. They would like financial institutions to cut and revise interest rates and adjust conditions, approval period and guarantees.

 

-- © Copyright nnt 2019-03-28

Why the hell is this news?!? Business 101 ever since humans started walking on their hind legs.

8 minutes ago, quandow said:

Why the hell is this news?!? Business 101 ever since humans started walking on their hind legs.

On 3/28/2019 at 3:31 PM, webfact said:

Grocery store owners adjusting 

prices upwards.