HomePro benefits from government stimulus programme

Thai home improvement retailer HomePro has reported an increase in sales for the first quarter of 2022. Sales revenue increased 4.71 per cent year-on-year to THB 15.76094 bn (EUR 431.4 mio).

The revenue increase was contributed to moderate recovery of consumption in tourist dominated regions which is mainly supported by domestic tourists, according to the quarterly report. This was partly also a result of the government stimulus measure “Shopping and Payback (Shop Dee Mee Kuen)”. This campaign offered personal income tax deductions for spending up to THB 30 000 on products and services, which boosted consumption particularly among middle to upper income households. In addition, the company organised more promotional activities for both offline and online channels. At the same time, sales growth of the online channel continued improving.

There were no new stores opened in Thailand or overseas during the first quarter this year. Currently, the company operates 87 HomePro stores, six HomeProS stores, 14 MegaHome stores and seven HomePro stores in Malaysia.