13-billion-baht spending expected in Chinese New Year

BANGKOK, Feb 9 (TNA) -- Tesco Lotus, a hypermarket chain in Thailand, reports active purchases through conventional and online channels for this Chinese New Year while Kasikorn Research Center predicts people of Chinese origin in Bangkok will spend about 13 billion baht during the festival. Salinla Seehapan, vice president of Tesco Lotus, said direct and online purchases were more active than what had happened last year and they had continued since late last year. Kasikorn Research Center, meanwhile, stated that people of Chinese origin in Bangkok spent more on merit-making, vacation and money in red envelopes. Spending on offerings is stable as people are not as strict on traditions as they were and product prices do not rise significantly. The center estimates spending during the Chinese New Year festival at 13.44 billion baht, 4.3% higher than last year. The money will go mainly to modern retail business, markets, tourism and restaurants. (TNA)