• During the festival, most related products tend to be priced higher than usual. However, this year's Chinese New Year, which falls on February 10, shows mixed price movements compared to last year. Key offerings such as meat and oranges are likely to see a price decrease due to increased market supply, while some items, like celery and bok choy, may experience price increases due to erratic weather conditions.
  • The price trend for auspicious items during Chinese New Year 2024 indicates that the price of oranges may drop to 47 baht/kg, a decrease of 17.0% compared to last year (which was 56.5 baht/kg). This is due to a larger supply of oranges entering the market, leading to lower prices than the previous year.

The price of gold bars in the country may fluctuate between 34,500-35,000 baht, growing about 15.0-16.0% compared to last year (which was 30,100 baht). This is attributed to expectations of interest rate cuts by the FED and the gradual accumulation of gold by central banks amid geopolitical risk concerns.

  • According to a survey on spending behavior during the Chinese New Year 2024 among Bangkok residents and surrounding areas, conducted from January 6 to 17, 2024, with a sample size of 310 people, over 55% of Bangkok residents expressed interest in participating in activities during the Chinese New Year. The main activities include purchasing offerings (25%), giving red envelopes (25%), and making merit/traveling/eating out (21%), respectively.

From the consumer's perspective, the spending atmosphere in Bangkok during the Chinese New Year 2024 is expected to be better than last year. The Kasikorn Research Center predicts that spending by Bangkok residents during this year's Chinese New Year may grow by about 1.5% compared to last year. In addition to an increase in the number of participants in the festival, there is also some stimulus from tax relief measures (Easy E-Receipt).

  • The survey found that about 50% of Bangkok residents are interested in utilizing the Easy E-Receipt measure during this year's Chinese New Year, particularly for purchasing household items, offerings, and ready-to-eat food, which is expected to boost sales for modern retailers that are prepared to facilitate consumers, such as issuing tax invoices or offering price promotions.
  • On the business side, some operators are preparing and trying to adjust their product formats to align with changing consumer behaviors and purchasing power due to societal conditions. For example, increasing the proportion of environmentally friendly offerings, adjusting product sizes to suit single-family households, limited spaces, or urban lifestyles, which aligns with survey results indicating that most Bangkok residents want to reduce paper burning/offerings, followed by using low-smoke incense and downsizing offerings during the Chinese New Year.