Retail titans bet on state measures to spark high-season recovery
Major retail operators are pressing ahead with year-end campaigns and promotional events to stimulate spending during the high season, despite sluggish consumer demand. They hope government stimulus measures, particularly the “Let's go Halves Plus” co-payment scheme, will help revive consumer sentiment and boost retail activity nationwide.
Despite lingering headwinds from high household debt, a slowdown in tourism, and widespread uncertainty dampening consumer confidence, Thailand’s economy is set to receive a boost as the country enters its peak shopping season.
The government’s new stimulus initiative, "Let's go Halves Plus", opens for registration from October 20–26 and is effective from October 29 to December 31, 2025, aiming to inject fresh spending power into the economy and create a multiplier effect across the retail sector.
Retail sector gears up for festive demand
Voralak Tulaphorn, Chief Marketing Officer of The Mall Group, said the company is fully supporting the government’s stimulus effort through a series of retail campaigns across its shopping centres, including The Mall, The Mall Lifestore, Emporium, EmQuartier, Emsphere, and Paragon Department Store.
“The Mall Group is positioning all our shopping centres as key engines to drive national purchasing power,” Woraluk said. “We are preparing special activities and year-end promotions to stimulate spending during this critical festive season.”
She added that the campaigns are expected to lift spending in the food and consumer goods categories by at least 10%, while driving higher foot traffic during the New Year period.
Boost for SMEs and local circulation
Voralak noted that Let's go Halves Plus directly supports both consumers and small businesses by boosting purchasing power and expanding income opportunities. “The Mall Group will serve as a platform to distribute economic benefits to SMEs operating inside our shopping centres,” she said, adding that the initiative would help strengthen and sustain the retail economy.
Rising traffic in October
Consumer activity has already picked up this month, particularly during the long weekend of October 11–13, with overall foot traffic across The Mall Group’s shopping centres rising about 5% from the same period last year.
The upbeat mood was supported by a combination of factors, including school holidays and consecutive public holidays, attracting families and tourists seeking leisure and shopping experiences.
At The Mall Lifestore Ngamwongwan, the “Jungle Walk 2025” event and Mermaid Show drew large crowds, while the debut of popular brands CHAGEE and IS AM ARE saw customers queuing from the opening day. Meanwhile, The Mall Lifestore Bangkae reported strong turnout from its 50 Years of Super Sentai Carnival and Saranae Food Fair, featuring celebrity guests and top food vendors.
Spending outlook remains positive
According to Voralak, The Mall Group continues to see positive signs of consumer resilience, with an average of 80,000 visitors per day on weekdays and over 100,000 on weekends across its properties.
“Although the overall economy is still in recovery, Thai consumers remain focused on quality time, relaxation, and shared experiences in shopping environments,” she said.
The Mall Group remains committed to developing its shopping centres as “spaces of experience, happiness, and community”, she added, in order to deliver lasting value to customers and society.
Emsphere emerges as Bangkok’s new hub of creativity and inspiration
Positioned at the heart of Sukhumvit, Emsphere has quickly established itself as a new-generation lifestyle destination, reflecting how consumer behaviour has evolved. Visitors are now spending more time in the complex, exploring its diverse open spaces, restaurants, and experiential zones such as EM Wonder, a hotspot among young people and professionals, and EM Market, a favourite for those who value the quality of experience over crowd density.
As part of its mission to become more than just a shopping venue, Emsphere recently partnered with global artist Jackson Wang to host the “Under the Castle” Halloween celebration and fan meet, which drew large crowds of both local and international fans.
Adding to the excitement, the appearance of the beloved character Butter Bear has also captured widespread attention, underscoring Emsphere’s growing appeal as a creative and cultural landmark.
CentralWorld draws 150,000 visitors a day as CPN powers retail revival
Thailand’s retail sector is entering its high season, bringing renewed vibrancy to shopping centres nationwide, according to Nattakit Tangpoonsinthana, Executive Vice President of Marketing at Central Pattana Plc (CPN), the operator of Central shopping centres across the country.
He said that the upcoming Central Park, set to be fully open by December, will be one of the key highlights of this year’s festive season, coinciding with a rise in international tourist arrivals.
Although the number of Chinese visitors has declined, Central’s malls have not been significantly affected, he said, thanks to growing arrivals from Europe, including Italy, Norway and the United Kingdom, which have increased by over 30%, alongside strong inflows from CLMV countries and Malaysia. As a result, Central branches in tourism provinces such as Udon Thani, Ubon Ratchathani, Hat Yai and Phuket are enjoying robust growth.
At CentralWorld, Bangkok’s flagship shopping destination, daily foot traffic averages 150,000 visitors, rising by 15–20% during major events. The recently opened Central Park is attracting around 50,000 visitors per day following a series of proactive marketing campaigns.
Each year, CPN organises about 20,000 events and activities across its nationwide portfolio to stimulate spending and support its retail partners. Collectively, Central’s shopping centres draw around 500 million visitors annually, including 67 million foreign tourists.
Central Pattana is set to inject new energy into southern Thailand’s economy with the launch of its 44th shopping centre, Central Krabi, on October 24.
Developed under the concept “Made by Krabi: The Joy of Local Living”, the 4.5-billion-baht project spans 114 rai (18.24 hectares) with a total building area of 86,609 square metres. It comprises a hotel, condominiums, residential units, and a retail complex, making it Krabi’s first-ever mixed-use development and serving as the province’s “living room” to welcome visitors.
Central Krabi is also positioned as Thailand’s first model for sustainable retail development, aligning with the company’s commitment to environmental and community-friendly growth.
Krabi welcomed 6.3 million tourists in 2024, mainly from Europe, Malaysia, India and Singapore, with Scandinavian travellers, especially from Sweden and Denmark, forming a strong long-stay and digital nomad segment. The Tourism Authority of Thailand (TAT) projects that tourism revenue in Krabi could reach 100 billion baht in 2025, propelling the province into the Top 5 tourism destinations nationwide (excluding Bangkok) and the Top 3 in the South, under the vision of becoming the “Tourism Powerhouse of the Andaman.”
Five-year investment plan worth 120 billion baht
Meanwhile, Central Pattana continues to pursue its long-term expansion strategy, aiming to strengthen its market leadership through mixed-use developments in high-potential locations.
Wallaya Chirathivat, President and CEO of Central Pattana, said the company plans to invest 120 billion baht between 2025 and 2029, or about 20 billion
She acknowledged that the sluggish economy has made consumers more cautious, but stressed that CPN’s mixed-use model remains resilient.
“Even though economic conditions are not entirely favourable, growth is in our DNA,” Wallaya said. “Our mixed-use retail strategy continues to perform strongly because our developments offer convenience, completeness and experiences that customers truly value.”
Siam Paragon marks 20th anniversary with billion-baht transformation
Siam Piwat Group is gearing up for a grand celebration to mark the 20th anniversary of Siam Paragon, announcing a sweeping transformation of the global landmark with an investment of 1.25 billion baht, alongside a 200-million-baht marketing budget.
The company will unveil three new world-class attractions in the final quarter of this year, including:
- SEA LIFE Bangkok, one of Southeast Asia’s largest aquariums, spanning 10,500 sq.m. and welcoming over 2.5 million visitors annually;
- MELAND, Thailand’s first world-leading indoor theme park; and
- NEXTOPIA, a futuristic model city and the first revolutionary concept of its kind in the world.
Siam Paragon will also launch the Siam Paragon Dining Phenomenal, a new destination celebrating the art of food and drink.
Currently, Siam Paragon attracts 100,000–150,000 visitors per day, while Siam Centre and Siam Discovery see 70,000–100,000 daily visitors. ICONSIAM maintains similar levels of traffic, welcoming 100,000–150,000 people daily.
Retail space expansion to surge by 3 million sq.m. in 3–4 years
Over the next three to four years, Thailand’s retail landscape will expand significantly, with around 3 million square metres of new retail space expected to open nationwide. Most developments are billion-baht mega projects concentrated in Bangkok, Phuket, Chiang Mai and other secondary cities.
Central Pattana (CPN) leads the pipeline, followed by The Mall Group, which is developing the Bangkok Mall mega project in Bang Na, and Siam Piwat, which is extending its investments to global tourism destinations such as Phuket. Asset World Corp (AWC) also plans major projects in both Bangkok and key tourism provinces.
The influx of large-scale developments has raised concerns about a potential oversupply in the retail sector. However, Nattakit Tangpoonsinthana, Executive Vice President of Marketing at CPN, believes urban expansion continues to create new commercial hubs and business districts, opportunities for fresh landmark developments.
“Bangkok will never be full,” he said. “New CBDs will continue to emerge, giving rise to new locations and opportunities for business expansion.”
He emphasised that, regardless of economic cycles, Central Pattana remains committed to its long-term investment plan focused on sustainable urban growth.
“The development of mega projects is about shaping cities to meet every lifestyle dimension and enhancing Bangkok’s quality of life,” he added. “Our flagship developments aim to redefine districts and establish new cultural and business hubs for Thailand — much like what has been achieved in world-class metropolises such as New York, London, Seoul, and Tokyo.”
Saranya Chansawang
