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3 Oct 2017

Thai Economy

Urban lifestyle Bolsters Jae-Online THB4.5 billion expected during Kin Jae Festival in 2017 (Current Issue No. 2873 Full Ed.)

KResearch projects that Bangkok residents will spend over THB4.5 billion on Jae food and beverages (F;B) during the Kin Jae Festival, which is about the same level they spent last year. Although the number of people planning to consume Jae food during the festival will likely not increase this year, it is believed that they will eat Jae food for a longer period; most intend to religiously stick to a Jae diet throughout the full nine days of the festival, versus last year when they chose to eat Jae only at certain meals. In addition, the Bangkok populace is apparently looking for new Jae F;B options through food online/delivery services to spice up their repetitive consumption patterns, adding new venues from which to buy Jae. These factors should increase the overall spending on Jae food this year to reach the same level as in 2016, i.e., an average spending of THB300/person/day.

Changing food consumption lifestyles in Bangkok should be an opportunity for online food services to increase their sales, if they can persuade customers to try them during the Kin Jae Festival this year. Online food providers may not yet be the most favored source to draw spending on Jae F;B, but they present an interesting alternative with the added value of online selection and delivery services that may please customers. Such providers should try to get good feedback from customers, e.g., new generation Jae consumers, who prefer to use online sellers. In particular, this new marketing channel should resonate with consumers having fast-paced lifestyles and little spare time, e.g., office workers, entrepreneurs, government officials, medical practitioners, etc.

Moreover, online food providers should encourage customers to spend more by utilizing consumer value strategies, e.g., sales promotions...'buy 2, get 1 free', etc.; or reward point accumulations, or they should seek to gain greater consumer confidence via such advantages to their F;B as nutritious ingredients, exciting new menus, interesting stories about Jae food or guarantees of flavorful taste and reviews on social media. These ideas are important to online food service success amid fierce food business competition.

Since vegetarian food is regarded as healthy and its consumption is not limited to the Kin Jae Festival, sellers can market such food all year round. However, the essential ingredients for long-haul success must include an ability to convince consumers that their food is worth buying, plus they must have the ability to understand genuine Jae consumption behavior, and thus, consumers' needs to create good meals and have promotions relevant to consumers' preferences.

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