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Superstitious beliefs play a crucial role in Thai consumers and business decisions
20 Sept 22:26 Key points summarised by AI
- Thai consumers and businesses heavily integrate superstitious beliefs and objects into their financial and risk-taking decisions, often prioritizing them over conventional data.
- Research demonstrates that exposure to superstitious items, like a 'magic pen,' significantly boosts confidence in passive superstitious individuals, prompting them to engage in riskier behaviors such as higher bets or investments.
- Thais actively seek out and interpret 'lucky' incidents or numbers (e.g., for lottery, business names) to bolster their confidence when facing major decisions.
- Marketers effectively capitalize on these prevalent superstitions by advertising and selling products associated with luck, influencing consumers who may not make rational evaluations during periods of uncertainty.
- The trend suggests increased vulnerability, especially among adolescents and low-income consumers, who may become more susceptible to marketing campaigns that embed risky activities into their daily lives through superstitious appeals.
