Post 372: Asian Markets in Crisis

When I say ‘Asian Markets’, I’m referring not to Stock Markets but to grocery stores, small independent businesses, specifically those here in Thailand....

On and off for the past eighteen months I’ve lived on the very outskirts of Bangkok in an unremarkable housing complex containing 140 single room apartments for young professionals and small families. At a little less than £100 per month including all utilities, air conditioning, Thai cable TV and occasional WiFi, it’s probably quite representative of affordable city living for young Thai’s. The ground floor of the apartment complex is home to several commercial live/work units; two small restaurants, one laundry, a florist and two independent convenience stores, all of whom currently survive on trade from the residents......

This is not a unique situation but something that’s repeated in every suburb around the country. Community living where ‘community’ means exactly what it used to mean; local people running local businesses supported by local people, who they in turn support. Micro economies that react quickly to market needs and survive by offering excellent personal service and by always going the extra mile.  It’s one of the greatest reasons for living here, but it’s a situation that rapidly changing.......

For several years these small independent stores have faced fierce competition from major chains who have expanded into the market; 7 Eleven and Family Mart. However, things now seem to be changing more rapidly, thanks in the main to Tesco Lotus, the Asian arm of Tesco UK. They started with Mega Stores, which I guess was inevitable, but now their smaller ‘Express’ stores seem to be springing up all around us. 7 Eleven and Family Mart tend to be franchise operations owned and operated by local people, but Tesco Lotus I fear are not. Given Tesco’s alleged penchant for litigation, I’ll be careful with my words, but I do fear for the future of this small community and countless others just like it across Thailand.........

Tesco monopolising Thai grocery shopping, what next? ..... Monsanto taking over grain production in Nepal? .... Just a thought!