Retail therapy: Tops looks for Lunar New Year discounts, tourists
Central Food Retail Co., (CFR), the powerhouse behind Tops grocery stores, is banking on a flurry of government stimulus and a tourism boom to set tills ringing as the Lunar New Year approaches.
Chakkit Chatupanyachotikul, the marketing maestro at CFR, is upbeat about the impact of the government’s Easy E-receipt tax deduction scheme, a nifty initiative running from January 16 to February 28, perfectly timed for the Chinese New Year celebrations and the first quarter.
The retail sector is also eyeing a boost from the government’s cash handout for seniors over 60, rolling out at the end of January, said Chakkit.
“The rebounding tourism sector is expected to further energise retail activity.”
However, it’s not all sunshine and red envelopes, as Chakkit warned of ongoing economic woes that might curb consumer splurging, with many pinching pennies for essentials. Yet, he’s confident that the Chinese community’s festive spirit will keep the cash registers busy.
Last year’s Lunar bash saw CFR’s top sellers include fresh produce, cleaning goods, seasonings, meats, seafood, and home essentials. This year, they’re betting on similar trends, with Euromonitor reporting the grocery market’s value at a staggering 2 trillion baht last year. CFR is optimistic, projecting a 4.6% annual growth from 2025, outpacing GDP, as everyday consumer goods remain indispensable.
For the upcoming celebrations, Tops is rolling out the red carpet with special Ang Pao discounts of up to 15% for loyal shoppers dropping 600 baht or more at their stores, including Tops Fine Food and Tops Food Hall.
Symbolic goodies like oranges, pears, and worship sets will also grace the shelves for those seeking auspicious vibes, reported Bangkok Post.
In a bid to get a leg up, CFR is aiming for a 20% sales spike compared to last year’s Lunar New Year, hoping their promotions will light up the economic skies.
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