absolutelyBangkok archive · Business & Economics
Originally published Jan. 15, 2008
You sure heard of The Economist’s
Big Mac index. Arguably the world’s quite most accurate financial indicator based on the well known fast food item.
absolutelyBangkok.com takes the Big Mac index a step further: It creates the — slightly different –
Big Mango index. An index created to tell you where to best do your daily shopping in Bangkok.
To tell you the good news ahead: Undisputed loser of the first Big Mango index is Tesco/Lotus.
The clear winner?
Gourmet Market at Emporium/Paragon, where you pay less for quite more.
A fair compromise?
Big C.
An overall conclusion? Price differences are minor. A testimony of minimal profit margins.
The Big Mango index though will not be based on a Big Mac, but a collection of daily food item here. Onions, potatoes, milk, Heineken. Established food products to properly reflect inflation and related economic factors.
To create the Big Mango index we visited 6 supermarkets:
Gourmet Market
(Emporium & Paragon), Big C, Villa Market, Carrefour, Tesco/Lotus and Jusco. Did not do Central, Foodland and Tops — perhaps next year. Assuming the survey is sufficiently representative.
For this our first survey, January ‘08 is considered “ground zero” of the Big Mango indexation.
In the future, adjusted by inflation and revaluations of the baht, we shall see where that can of Heineken carries the index.
Our shopping basket to determine the index consists of 10 basic food items:
1kg potatoes
1kg onions
1kg ground beef
1kg big fresh white shrimps
100 grams of smoked salmon
1 pack of Orchid butter (227 grams)
1 pack of Foremost pasteurized plain milk (946ml)
1 dozen eggs (Omega brand)
1lt of Bertolli extra virgin olive oil
6 cans of Heineken
Fruits, bakery items and toiletries are not included, as their variety is too large or price differences are too minimal.
We furthermore did not buy special promotions, but paid full prices. And we’re no snobs, but we only carry a discount card for Emporium/Paragon. You’ll see why!
Let’s start then.
At Jusco the basket sets you back
1,586 baht.
Don’t buy imported items at Jusco. A bottle of Bertolli olive oil costs 516 baht — you can get it for 455 baht at Carrefour. Overpriced as well Jusco’s smoked salmon — roughly 30% more pricey than even at Villa Market. Quite all right Jusco’s selection of fresh seafood.
Villa Market belongs to the more upmarket places, which is made instantly clear by its price of 470 baht for 1kg of average white shrimp. Villa’s basket:
1,648 baht. Villa offers excellent choices of imported goods. Basic food items though such as potatoes and onions twice as expensive as elsewhere. But Villa, as a rarity in Bangkok, would have organic eggs, an impossibility at other major retailers.
Carrefour with its ambiance of a train station is no shoppers paradise. But what if you can save some bucks for a few extra beers in the evening? Carrefour’s basket comes at 1,537 baht. Excellent are the special deals at the French chain, such as 65 baht for 1kg of ground pork or 9 baht for 1kg of onions. A winner as well Carrefour’s own extra virgin olive oil at 379 baht the liter. But that ambiance…
Tesco/Lotus? Now that’s a supermarket where you have to be forced into. Not only do they have no smoked salmon, their fresh white shrimp were of most desolate quality and the loudspeakers hyper loud. Tesco/Lotus asks for 1,396 baht. Sounds like a bargain. But no smoked salmon included and the shopping experience at this British-Thai chain is rather torturous. Not necessarily again!
At Big C we lay down
1,425 baht. Not too shabby! Shopping is unspectacular, but pleasant. Worlds above Tesco/Lotus. A bargain the Omega eggs: 46 baht the dozen, compared to 60 baht at most other places. If you got Big C near you, not a bad choice.
Finally, the grand
Gourmet Market.
Can you believe it? A lousy
1,508 baht they want for the basket. Less than at Jusco or Carrefour. And at Gourmet Market you enjoy shopping fancy foods with style and joy. Ever tried the marinated olives?
The fresh market is glorious, the choices are unending. You get everything at Gourmet Market — and a 5% discount with the Prestige Card. If you ever wondered where to shop: Gourmet Market makes it a complete no-brainer. And don’t forget: At Gourmet Market you can buy freshly roasted, ungrounded coffee. For the perfect ristretto at home.
And that’s it with absolutelyBangkok.com’s first Big Mango index.
Basic value for the next indexation will be the 34-baht-Heineken-can.
Where do you think the Big Mango index stands in a year? Remember the price of extra virgin olive oil some years ago in Thailand. Below 300 baht a bottle. Now near 500. Even though the baht became much stronger. Where’s the logic?
Better start stocking up with your preferred goodies.
Addendum:
You may also want to read
Gosh Bangkok, You’re Pricey!
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