Thai retailers banking on consumer spending as mourning period ends

Bangkok

THE distributor of Nike Inc's Converse brand in Thailand is hopeful of a revival in consumer spending once a year-long mourning period for King Bhumibol Adulyadej ends on Oct 29.

Whether Rich Sport Pcl chief executive officer Papitch Wongpaitoonpiya is proved right will help to determine the strength of a rebound in the Thai economy, since household consumption is worth about half the country's US$407 billion gross domestic product (GDP). Spending has been subdued amid grieving for the monarch, most visibly in a preference for monochrome clothing.