Given the record of the past years, it is certain that the hunger for expansion of the country’s retail business will carry on in the future with more intense competition waiting around the corner. Above all, the convenience store sector has continuously welcomed new rivals and extracted massive investment from existing key players each year.
Suraphan: Balanced scorecard a key tool
According to one retail expert, in 2013 the convenience store sector grew by 8-10%, down from 18-22% growth a year earlier, mainly due to weaker consumer purchasing power. This year the ongoing political impasse has dampened consumer confidence and spending. But based on a study by Kasikorn Research Center, sales from overall retail business are forecast to grow by 3-5% this year, up from 2.8% in 2013.
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