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Pratunam, Bo Bae vendors hit hard by weak purchasing power, high rents and e-commerce boom
10 Sept 21:15 Key points summarised by AI
- Weak purchasing power and high rental costs are severely impacting Bangkok's Pratunam and Bo Bae garment districts, forcing many shops to close or offer spaces for lease.
- The rapid growth of e-commerce and online livestream sales has drastically reduced foot traffic and sales, with some areas experiencing up to a 95% decline in visitors.
- Despite landlords cutting monthly rents significantly, many vendors are still struggling to survive, highlighting the profound shift in consumer behavior and market dynamics.
- Industry experts emphasize the critical need for businesses to adapt through strategic online transitions, warning against common pitfalls like ineffective marketing and price wars to avoid further capital loss.
