Mooncake sales are shrinking by about 16 percent due to economic problems, Kasikorn Research Center said Friday.
The center estimated mooncake sales this year at about 800 million baht, down by 15.8 percent from last year.
It explained that the coronavirus pandemic heavily affected purchasing power and would reduce the number of visitors to the Mooncake Festival on Oct. 1 and the overall sales of mooncakes.
The impact would be serious for the producers who conventionally sold expensive mooncakes to tourists. Those who had regular customers and sold affordable mooncakes should be less affected, the center said.
Mooncake producers would still participate in the Mooncake Festival on Oct. 1 to maintain their brand awareness and customer base while waiting for economic recovery.
Weak purchasing power and fierce competition were their major challenges, the research center said.