Hopes for a quick economic recovery from the pandemic have been overshadowed by internal and external factors that threaten household living standards in Laos. Depreciation and (largely as a result) high inflation have led to rising prices, especially those of imported goods such as fuel, medicine, food and beverages.
Depreciation of the local currency and a high rate of inflation constrained household spending in the first half of 2023. After falling by half against the US dollar and by 44% against the Thai baht in the year to the end of 2022, the Lao kip continued to lose value from January to August 2023 by a further 14% against the US dollar and 15% against the baht.
There is considerable ethnic diversity in Laos, with this resulting in a range of cultural traditions. Religious festivities are common, popular and diverse, with these generally celebrated with alcoholic drinks and soft drinks.
Young people, especially females, are the main drinkers of coffee and like to drink it before or during work. Older people and office workers will typically choose retail hot drinks on the basis of the brand while focusing on product quality in the foodservice channel.
Small local grocers are the most popular distribution channel for hot drinks in both urban and rural areas across the country. In addition, the rapid expansion of supermarkets and convenience stores after the COVID-19 pandemic came to an end has improved the demand for hot drinks in recent years.
Persistently high inflation and the depreciation of the Lao kip will significantly impact domestic consumption of hot drinks in the forecast period.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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