The Federation of Thai Industries (FTI) on Thursday forecasted a dip in sales of festive items for the New Year holiday, citing the impact of the COVID-19 pandemic.
Festive items such as calendars, diaries and cards are likely to have sluggish sales as their purchase orders are down 15-20 percent comparing to last year's third quarter because of the impact of the pandemic, said the FTI.
The FTI said purchase orders usually occur in the third quarter of each year when companies prepare to give gifts to their customers for the new year during December and January.
According to FTI, sales of calendars, diaries and New Year cards are valued at around 1 billion baht (33 million U.S. dollars).
"The year 2020 is not a very good year for businesses," said FTI vice-chairman Kriangkrai Tiannukul, adding "the virus dealt a blow to the revenue of many companies, causing them to reduce budget and only spend on essential goods."
"The dull mood will continue into next year where companies will continue to save money and to maintain cash in their pockets," said Kriangkrai.
This year's big clients who buy calendars, diaries and New Year cards are usually from the energy and banking sectors, he said.
Kriangkrai also said that sales of calendars have plunged as users switch to their smartphones and computer tablets as calendars.
The FTI said that purchase orders for New Year cards have plunged by 90 percent over the past five years as they are replaced by e-cards.