Central Food Retail, which operates Tops and FamilyMart under Central Retail, reveals that during COVID-19, shopper behavior has shifted along with the new normal, as they opt for contactless payment to avoid handling cash in order to prevent the spread of COVID-19. As a result, e-payment transactions have grown significantly, contributing to over 60% of total transactions. 

Stephane Coum, CEO of Central Food Retail under Central Retail, said, “The COVID-19 situation has accelerated new shopper behavior, resulting in a touchless society in which people avoid touching public surfaces and opt for cashless payment methods. During this period, e-payment plays a significant role in transforming how people make payments and how they use cash. According to the Bank of Thailand, while cash is still popular among Thais, e-payments are increasing rapidly. In 2020, on average, each Thai made 151 e-payments per year, three times higher than in 2016. One of the accelerating factors is the COVID-19 situation which prompted people to avoid touching banknotes and change their payment options to contactless payment.

Based on this trend, our company foresees that consumer trends will shift, not just in Thailand but globally. We have collected data about Tops and FamilyMart customers’ e-payments and found a significant change from 2019, before COVID-19. In 2021, more than 60% of our customers choose e-payment methods, compared to only 50% in 2020. Due to the increase in cashless payments, we recognize that our society will transform from cash-based to e-payment-based, with more and more payments being made via credit card and smartphone apps, as consumers want to avoid the spread of COVID-19. There are also more benefits to e-payments compared to using cash, such as discounts on Dolfin app, cash back with credit cards, point collection, e-gift cards, and special privileges for cardmembers.

Interestingly, Tops customers who make the most e-payments are those between 35-44 years old, followed by those who are 45-54 and 25-34 years old respectively. These groups are already main supermarket customers. Based on this, we can see that e-payments are adopted by all ages, particularly those who are 45-54 years old who are more and more familiar with cashless options. Today, Tops and FamilyMart accept various e-payment methods, such as QR payment via mobile banking and Prompt Pay, RFID chip cards, and e-Wallet platforms like Dolfin, Rabbit LINE Pay, Alipay, and WeChat Pay, as well as platforms used under the government’s relief measures. We recognize the importance of these platforms and constantly seek additional privileges to add value to every transaction, such as with 800 baht paid via Dolfin, customers get a 50 baht discount voucher during September 1-30, 2021, or The1 members who spend 800-1,499 baht per receipt and pay with any e-payment option can get a 100 baht discount for their next purchase. Additionally, contactless payment will be increasingly popular as consumers are more familiar with it and feel convenient using these platforms.”

Stephane added about future retail trends after COVID-19, “From 2023 onward, touchless society will play a bigger role in every business, including online businesses and financial businesses. The percentage of e-payments will be 80%, and smartphone apps will become more widely used than credit cards or physical cards. Most consumers will opt for e-wallet or e-payment platforms because they are safer and more convenient. Receipts will be sent to customers’ phones directly rather than printing out paper receipts, and the same will apply to discount coupons. In the future, customers can use their phones to scan the barcode on each product and pay at the counter using e-payment channels. This will reduce their waiting time in the line. Tops and FamilyMart are committed to improving our products and services to meet the changing lifestyles of our customers today and in the future so that we can offer the best experience and remain the leading supermarket both offline and online.

For more information, visit www.tops.co.th. Facebook TopsThailand or LINE  @TopsThailand.