Eat Shop Spend version 2 on the way, but no cash giveaway
After feedback from the successful “Chim-Shop-Chai” (Eat-Shop-Spend) campaign, the Minister of Finance says campaign will now be extended into Phase 2 but with the criteria and regulations adjusted to attract more people with purchasing power to spend their own money, without the 1,000 baht per person give-away.
The Minister of Finance Uttama Savanayana says there have been 1.3 million persons so far directing their spending in this campaign to some 170,000 participating shops, generating more then 1 billion baht in additional revenue.
“The second phase of the campaign will be introduced with adjustments to the conditions to encourage campaign participants to spend their own money to generate additional cash flow.”
The campaign’s second phase is expected to commence this month, with 1-2 million more sign-ups, who will no longer receive the 1,000 baht per person allowance, but will have higher caps on the 15% cashback rebate from a 4,500 baht limit to 5,500-6,000 baht.
The Minister of Finance admits most people signed up for the campaign intending mainly to receive and spend their 1,000 baht allowance, as seen in the relevant data showing a total spending figure from the free allowance of more than 1 billion baht, while spending of participants’ own money only reached about 10 million baht, which didn’t fulfil the government’s goal of encouraging people to spend their own cash.
The campaign’s second phase will end at the end of November. More info about the next “Chim-Shop-Chai” (Eat-Shop-Spend) campaign when details are announced.
SOURCE: National News Bureau of Thailand
