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NIQ and Central Food Group under Central Retails, Forge Groundbreaking Partnership to Revolutionize Retail Analytics in Thailand

Bangkok, Thailand - May 7, 2024— NIQ, the world’s leading authority in consumer intelligence, has announced a landmark partnership with Central Food Group (CFG) under Central Retail, is one of the business groups operating a food retail sector from premium supermarket brands to convenience stores and specialty store. This partnership will redefine the retail landscape by offering unparalleled insights into consumer behavior and market trends, catering to Thailand's dynamic consumer landscape. 

The partnership was launched with an event attended by over 200 suppliers and partners, underscoring the industry's support and the anticipated transformative impact on retail experiences through data-driven decisions. By integrating NielsenIQ's Activate platform with CFG's extensive retail network, the partnership will empower suppliers with actionable data and insights that enable informed strategic planning and execution. 

Thailand's 2024 Consumer Landscape 

 This partnership is timely amid continued consumer concerns about the rising cost of living. Key data points from the Consumer Outlook 2024 report reveal that while 44% of Thai consumers are optimistic about their financial prospects, a significant majority are concerned about rising living costs, with 75% expressing concerns (+5 percentage points from Consumer Outlook 2023). To manage finances, 98% of consumers surveyed in Thailand are altering their shopping habits for FMCG products. This emphasizes the strategic importance of the NIQ-CFG partnership, aiming to leverage insights for better consumer engagement and product offerings through a significant shift in Thailand’s consumer landscape.  


Among the top concerns for Thai consumers are increased cost of living (72%), economic slowdown (42%), and job insecurity/loss (36%). The top three concerns are similar to those of 2023, with increasing utilities remaining the number one concern for Thais, followed by rising food prices and the economic downturn. In 2023 Thais saw an increase in electricity prices, and the continued inflation of food costs. Remarkably, global conflict and crisis escalation have climbed up the ranks, signaling heightened awareness and a potential impact on consumer confidence and spending behaviors. To cope with these challenges, 98% of Thai consumers adopted a range of strategies to manage their FMCG spending, with an average of 4.7 strategies per person. The leading strategy sees 46% of consumers shifting to online shopping to get better deals while saving on gas by minimizing trips to the store. The online shopping strategy can be attributed to various platforms’ promotions for double-digit day sales, such as 11.11 or 12.12 sales, where consumers can save up to 80% or more on FMCG goods. 


Despite consumers' concerns at the beginning of 2024, 44% are optimistic about their financial situation improving by the end of 2024. This optimism indicates a dynamic shift in consumer behavior expected in 2024. 


Another key insight is that Thai consumers are becoming increasingly cosmopolitan in their tastes, seeking diverse and authentic flavors from around the world. This trend is not just about satisfying culinary curiosity but also reflects a broader desire for quality and premium experiences in food consumption. 


Central Food Group (CFG) is capitalizing on this trend by broadening its range of imported products. This strategy is informed by NIQ’s consumer intelligence, indicating a strong market appetite for imported goods. By offering an expanded selection of imported goods, CFG aims to meet the growing consumer demand and enhance customer satisfaction and loyalty. "Our collaboration with NIQ is more than a partnership; it's a commitment to understanding and exceeding the expectations of Thai consumers, who are increasingly looking for a blend of global culinary experiences and quality essentials tailored to their evolving needs," stated Mr. Thanawat Jirajariyavej, Chief Merchandising Officer of Central Food Retail under Central Retail 


The partnership between NIQ and CFG brings substantial benefits to all stakeholders involved. For suppliers, access to actionable data and insights means they can tailor their products to meet evolving consumer demands, thus increasing sales and profitability. Retailers can optimize their inventory and marketing strategies, leading to improved customer satisfaction and loyalty. Ultimately, customers benefit from a more personalized shopping experience, with access to a wider range of high-quality products that align with their preferences and lifestyle. 


Khun Thanawat said: “We go beyond using data to develop customer-centric products and services. Since the beginning of the supply chain, we've been exploring ways to help our suppliers develop products that meet customer expectations. With this in mind, we encourage our suppliers to utilize this platform, providing your suppliers with the right direction for their offerings.” 


“NIQ's experience and credibility in this field make them the perfect partner for us. Their platform offers comprehensive insights and analytics that empower us to make informed decisions at every stage of the retail process. We are confident that this collaboration will drive mutual success for CFG, our suppliers, and most importantly, our valued customers." Khun Thanawat added. 


Amid economic pressures, Khun Chinta Srichintangul from NIQ underscores a strategic pivot towards wellness and essential goods, echoing the health-conscious shifts in consumer spending. The new consumer trend shows that 48% of consumers value waste avoidance, only buying what they’ll use to avoid waste, and 33% are being more proactive with health to prevent issues. "Despite budget constraints, there's a discernible shift towards investing in health-enhancing essentials, showcasing resilience in prioritizing well-being," Khun Chinta Srichintangul said, highlighting the adaptability of Thai consumers in navigating economic challenges with health in mind. 


Empowering Strategic Decision-Making 


The NIQ-CFG partnership goes beyond enhancing retail operations. It positions NIQ's Activate platform as a pivotal tool for FMCG suppliers, offering critical insights for strategic decision-making. This collaboration is poised to drive growth and innovation, responding adeptly to market demands and consumer trends in Thailand and beyond. 

"Looking ahead, this partnership represents just the beginning of a transformative journey in retail analytics. By continuously adapting to and predicting consumer trends, NIQ and CFG are not just responding to the market today but are shaping the retail landscape of tomorrow. Together, we are committed to innovating at the pace of consumer preferences, ensuring that Thailand's retail sector not only meets but anticipates and exceeds the expectations of its consumers," added Khun Chinta Srichintangul.  


Central Food Group's choice of NIQ's services and platform underscores the credibility and experience that NIQ brings to the table. With years of expertise in consumer intelligence and a track record of delivering actionable insights to businesses worldwide, NIQ is well-positioned to support CFG in achieving its strategic objectives. NIQ's commitment to innovation and its proven track record in anticipating and responding to consumer trends instill confidence in the partnership's ability to drive positive outcomes for all involved parties. 

Step into the new win-win-win retail world  

NIQ Activate powers engagements that matter for retailers, brands and their customers with a unique SaaS, AI-based collaborative platform. It offers its retail and brand users the Full View into Supply Chain Analytics, Assortment & Promotion Analytics, Category & Customer Analytics, Personalized Offer Management, and Retail Media Intelligence. 


With NIQ Activate, collaboration between retailers and suppliers is made simple to enable mutual, profitable growth. See how NIQ Activate powers data and insights to actions. 


About NIQ 


NIQ is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. In 2023, NIQ combined with GfK, bringing together the two industry leaders with unparalleled global reach. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full ViewTM. 


NIQ, is an Advent International portfolio company with operations in 100+ markets, covering more than 90% of the world’s population. For more information, visit


Media Contact: 

Natharin Nunai,  

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