The University of the Thai Chamber of Commerce (UTCC)’s latest survey has found that consumers found their shopping for this year’s Chinese Spirit Festival more expensive than last year.
Associate Professor Thanavath Pholvichai from the UTCC’s Economic and Business Forecasting Center revealed on Thursday that the latest Chinese Spirit Festival spending survey among 2,400 shoppers showed that 31.2 percent planned to join in this year’s festival.
The study also found that 45.7 percent of the shoppers felt goods prices have risen considerably from last year, with 32.4 percent believed the prices have gone up slightly. Only 14.7 percent felt the prices remained unchanged.
Moreover, 47.3 percent of the respondents have spent more on the festival than in 2011, while 33.9 percent spent less and 18.8 percent maintained their budget.
All in all, the UTCC’s study concluded that around 2.69 billion baht has been spent for this year’s Chinese Spirit Festival, up 7.8 percent from last year.