Economic Impact on Consignment Business Operators in Chanthaburi Province During the COVID-19 Period

Abstract

           This research aims to study the economic impact on souvenir business entrepreneurs in Chanthaburi Province and find solutions for them in the post-COVID-19 period. The research employs PESTEL and SWOT analyses. The findings indicate that 54.50% of entrepreneurs use their capital to operate their businesses. Most customers are Thai tourists, and during the COVID-19 pandemic, there was a significant decrease in customer visits, resulting in a two-fold reduction in revenue while expenses doubled. Entrepreneurs responded by expanding sales channels, advertising online, cutting extravagant costs, and managing debt by paying only the interest. One of the key findings of the research is the significant role of online channels in souvenir purchases. The study found that souvenirs are primarily purchased for gifting purposes through online platforms. There was a noticeable decline in souvenir purchases before and during the COVID-l9 pandemic. Key factors influencing purchasing decisions include product quality, reasonable pricing, availability of online ordering, and sales promotions. The PESTEL and SWOT analyses reveal that educating entrepreneurs, consumers, and the public about online selling, reducing unnecessary costs, and helping entrepreneurs adapt is crucial for their survival and recovery after the COVID-19 crisis.