Consumer & Retail

Thailand - Retail prices may rise due to rising raw material price

Source: The Nation (Thailand), 03 February 2010

Due to skyrocketing global prices, the retail prices of consumer goods that rely on imported raw materials will soon be rising. The product most affected would be canned food, primarily because the rising cost of steel is pushing up the price of tin plate, which is the raw material for producing cans. The cost of tin plate had risen by 30% since early 2009 due to the limited supply of raw materials in the world market.

Thai can producers are facing higher raw material costs because the country lacks a downstream steel industry. A Commerce Ministry source said the Internal Trade Department had already approved increasing tin plate prices to Bt4,270 (US$128.70) a ton since the end of last month, and this might push up the retail price of tinned food.

World - Luxury goods' uneven growth

Source: Financial Times, 09 February 2010

Recent figures from luxury goods groups have provided some bright spots in the growing markets gloom. Tiffany kicked things off last month with a raised earnings forecast and holiday sales up 17% year on year. Richemont, Burberry, Swatch and - late last week - Hermès and LVMH all followed with sales ahead of expectations in the final quarter of 2009 and moderately optimistic outlooks.

However, there are several recurring themes that are not all positive. Cheaper categories such as handbags, leather goods and fashion were still the best performers overall. And China, more than ever, is the motor of industry growth; Japan, which once played that role, is sharply negative. North American sales growth is unspectacular, with a newfound addiction to discounts that may be hard to break; Europe, still the industry's biggest profits pool, is weak.

Vietnam - Tet markets mushroomed in Hanoi

Source: Thai News Service, 09 February 2010

There are more than 50 Tet (Lunar New Year) markets that have been opened throughout Hanoi, selling flowers and agricultural products. This is the biggest grouping of flower and agricultural markets ever held Tet, with 24 more markets than were present last year. Sixteen markets are trading within the city whereas another eight have sprung up in surrounding suburbs.

In the city, Tay Ho and Thanh Xuan have three markets each while Cau Giay and Ha Dong district have two. West of the city centre, Quoc Oai and Thanh Oai districts are recorded as having 10 and 12 Tet markets respectively. The Hanoi People's Committee instructed the city's Transport and Communications Department and Police to divide and control traffic lines so as to limit the incidence of traffic jams resulting from increased market traffic.

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