Power Buy Co, Central Group's appliance retail chain, is revving its sales campaign to spur spending by consumers whose sentiment has been battered by a spate of negative factors this year.
Plenty of static on digital TV has kept people from making a purchase. PATIPAT JANTHONG
The company has set aside a budget of 60 million baht for its Thank You Day promotion, running Oct 31-Nov 28."For the first time we are offering zero-interest instalment payments for 4-10 months for all electric appliances during the event, while some items have up to an 80% discount," said Sa-angthip Amornchat, the vice-president for marketing.
For the first nine months, Power Buy reported sales growth of 7% to 19 billion baht, down from a prior 10-15% forecast.
The weaker showing was attributed to fallout from the first-time car buyer scheme and unclear policies on digital TV.
Flooding in some areas prompted potential buyers to delay purchases of washing machines and refrigerators, while demand for cameras dropped sharply as people switched to taking photos with their smartphones. External factors such as uncertainty over the US debt ceiling also led consumers to baulk at spending.
Ms Sa-angthip said new-car buyers are typically the same group that buys electric appliances. She still has high hopes for a recovery in appliance sales by year-end.