Home›Global Markets›Trade & Tariffs›Southeast Asia sees new rules for paying over time on…

Southeast Asia sees new rules for paying over time on luxury goods

In Bangkok, buyers are using installment plans to get designer items immediately while keeping cash available for property deals.

Reported · Written up by our desk · Trade & Tariffs

Southeast Asia’s growing “indulgence economy” is shifting as tougher economic conditions weaken the link between luxury spending and available liquidity, according to SCMP Economy. The outlet frames a change in how consumers fund high-end purchases, including the growing reliance on buy-now, pay-later style installment payments.

In Bangkok, the report describes how property agent Jirapun Ngam uses installment plans to buy luxury goods while retaining cash for business needs. She said she prefers paying off purchases monthly, with a small amount of interest.

The article also links the trend to Bangkok’s luxury spending profile, noting the city recently edged into the top 10 globally for luxury spending. In this environment, consumers are reportedly trying to balance maintaining appearances with the need to manage cash flow, especially when investing in property renovation and flipping.

More like this

Sources