Elevated Alcohol Prices Scare Away 62% of Thailand Drinkers

A customer looks at beer on shelves April 24 at a supermarket in Bangkok, Thailand. Heightened alcohol prices have scared away nearly two-thirds of Thai drinkers, a study has found. (AP Photo/Sakchai Lalit)

Global Data's 2023 Consumer Survey was published this month, and it revealed that 62% of drinkers in Thailand have stopped buying alcoholic drinks because they consider them to be too expensive. Thirty-one percent still consume alcohol "regularly."

Priyanka Jain, a consumer analyst at Global Data, said Thai manufacturers are "facing enormous challenges amid high inflationary pressures" that have led to increased prices. However, the price hikes may have gone too far if nearly two-thirds of drinkers are staying away from booze.

"Moreover, the limited shelf presence and high price point of low-/no-alcohol products are compelling Thai consumers to opt for cheaper alternatives," Jain said.

Tim Hill, key account director at GlobalData Singapore, added that the COVID-19 pandemic raised awareness among Thai consumers about the importance of lowering alcohol intake for health purposes.

"This gave rise to more consumption occasions for low-alcohol and no-alcohol or alcohol-free products. This ties in with GlobalData's 2023 survey, wherein, 81% of Thai consumers said they consume low-alcohol or 0% alcoholic alternatives at least once a week," Hill said. "Low-/no-alcohol offerings have also generated interest among drinkers and manufacturers alike, as they address some of the social, political, and economic concerns associated with binge drinking and alcoholism."

Hill said low- and no-alcohol brands are targeting female drinkers through lifestyle-oriented product positioning. Leading beverage companies are also developing healthier options to attract health-conscious drinkers.

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David Morrow is the managing editor of Whiskey Raiders and has been with the company since September 2021. David has worked in journalism since 2015 and has had bylines at Sports Illustrated, Def Pen, the Des Moines Register and the Quad City Times.David holds a Bachelor of Arts in Communication from Saint Louis University and a Master of Science in Journalism from Northwestern University's Medill School of Journalism.When he's not tasting the newest exciting whiskey releases, David enjoys spending time with his wife and dog, watching sports and traveling.