Bangkok: The private sector is optimistic about the new government's potential to bolster Thailand's economic recovery through strategic tax measures. They are particularly hopeful for initiatives akin to the "Shop Dee Mee Khuen" (Shop Well, Get a Refund) and "Easy E-Receipt" schemes to stimulate consumer spending and encourage the purchase of large goods, with predictions that the electrical appliance market will expand by 5% this year.
According to Thai News Agency, Mr. Amnat Singhachandra, Senior Marketing Manager of LG Electronics (Thailand), highlighted the promising growth prospects for the air conditioner market, driven by increasingly hotter and prolonged weather conditions. He foresees a 20% growth following a significant 16% decline in 2025, with LG targeting a 30% increase in growth. Despite the favorable outlook for air conditioners, the home appliance market has experienced a slowdown this year compared to 2025 due to a high base. The introduction of the Easy E-Receipt measure at the beginning of 2025 had previously spurred sales growth across all segments.
The home appliance market volume is expected to grow by 5% this year, with LG aiming for a 10% increase. The company is pursuing a Dual Transformation strategy to become a Smart Life Solution Company, targeting a 22% market share. This involves expanding towards a 'Zero Labor Home' concept, where all devices are interconnected via the LG ThinQ app, enhancing user convenience and efficiency.
Current consumer behavior trends show a shift towards prioritizing technology and quality over price. Consumers are increasingly conducting thorough research on individual products, comparing the pros and cons of different brands and models. As a result, technologically advanced products, including AI-driven smart living solutions, continue to perform well in the market despite higher price points.
Mr. Amnat reiterated the private sector's hope that the new government will implement tax measures to stimulate consumption through personal income tax adjustments, similar to the "Shop Dee Mee Khuen" or "Easy E-Receipt" schemes. This is seen as crucial for stimulating the economy and encouraging the purchase of large goods, as the "Kon La Khrueng" (Half-Half) project did not generate sufficient momentum.