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Baht/$ 33.49/53
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GOLD |
14,000
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RETAILING
PITSINEE JITPLEECHEEP & PORNNALAT PRACHYAKORN
Apichart Assavapokee (right), senior chief merchandising officer of The Mall Group, promotes the Paragon Electronics Showcase that will be held from July 3-13 at Siam Paragon, with a sales target of 260 million baht. |
Thailand's electrical appliance business growth in the second half of this year is expected to drop to just 3-4% as a result of political uncertainties, rising inflation and a sluggish economy. ''The political situation is a major factor that will strongly affect consumer confidence,'' said Alongkorn Chujit, deputy managing director of LG Electronics (Thailand) Co.
The impact was also being felt in the consumer electronics market, said Apichart Assavapokee, the Mall Group's senior chief merchandising officer. He said that sales of LCD TVs from Power Mall during the Euro 2008 football tournament grew only 20%. The rate was low compared to four years ago with growth as high as 30-40%.
However, all electrical and electronic goods firms and The Mall Group hope the situation will recover in the third and fourth quarters of this year. The company has invested in promotions and is offering new products. Mobile phones, digital cameras, LCD TVs and washing machines are expected to show the highest growth.
''We aim to focus on white goods in the second half, especially washing machines. Other products that will help maintain sales are LCD TVs and mobile phones,'' Mr Alongkorn said.
He added that the company revised its overall sales-growth target this year to 20-25%, down from 30% last year, due partly to a drop in air-conditioner sales in the first half.
Chatchai Santatianant, general manager for consumer electronics of Thai Samsung Electronics Co, said digital cameras and LCD TVs would help the company maintain sales growth.
''We set a sales growth target of about 30% early this year but the negative prospects in the second half will drive us to put more effort into reaching that target,'' Mr Chatchai said.
Hiroyuki Muto, director of sales and marketing of Panasonic Siew Sales Co, said Japan's Matsushita Group is still optimistic about the market even though political uncertainties linger. ''We have had a lot of experience with Thai politics for years. We believe the situation will recover and be solved soon,'' he said.
Meanwhile, Mr Apichart said that overall sales of Power Mall were expected to reach 7.35 billion baht in 2008, up 5% from last year.
''We are satisfied with our first-half performance. A 5% growth of sales is considered a reasonable performance amid the current situation,'' he said.
The company would spend 50 million baht and join with other electrical and electronic goods makers to stage the Paragon Electronics Showcase from July 3-13.
More than 40 brands such as Electrolux, Panasonic, Sony, LG and Samsung would join the campaign. The company expects 260 million baht in sales from the 11-day campaign.
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