Siam Paragon announces Bt100m sales campaign
Affected negatively by the economic slowdown and decline in purchasing power, the retail sector anticipates growth of less than 5 per cent this year, causing retail players to launch attractive campaigns to stimulate sales in the fourth quarter, the peak
Siam Paragon yesterday announced it would invest about Bt100 million in its biggest campaign of the year, "Siam Paragon 10th Anniversary: The Prismatic Phenomenon".
There will be two thank-you campaigns: a 10-week promotion with 100 prizes running from tomorrow to December 18 and a 10-day celebration including a series of "world-class" events and gifts.
Siam Paragon is one of the major shopping centres on Bangkok’s Rama I Road, jointly developed by Siam Piwat Co and The Mall Group, Thailand’s two giant retail developers. The 10th-anniversary campaign is aimed at increasing customer traffic at Siam Paragon by 5 per cent and to increase spending per transaction by 10 per cent.
Mayuree Chaipromprasith, senior executive vice president for marketing at Siam Paragon Development, said the strong partnership between Siam Piwat and The Mall Group had made Siam Paragon a retail phenomenon and a true "world-class shopping destination" that attracts more than 200,000 local and international shoppers a day.
"Our loyal customers who have high purchasing power and are members of our Platinum and Scarlet cards have not been significantly affected by the prolonged economic difficulty. We have seen their purchasing value and earning of points on their cards increase a significant 24 per cent year on year in the first three quarters of this year."
Chamnarn Maytaprechakul, executive vice president of Siam Paragon Retail, who is also chief marketing executive of The Mall Group, said the explosion that hit Ratchaprasong Intersection in the middle of August had little impact on the number of foreign tourists coming to downtown Bangkok. Foreign visitors disappeared from the Ratchaprasong and Rama I areas for only few weeks and traffic is now back to normal.
"However, with Thailand’s GDP anticipated to increase by only 2.5 per cent this year, we believe that the overall retail sector in Thailand will increase by no more than 5 per cent in total sales this year," Chamnarn said.
He added that people’s shopping behaviour had changed along with the economic difficulty, as they come to the shopping malls to eat and buy only necessary goods. The launch of attractive value-for-money campaigns will allow shoppers to decide more quickly what they plan to buy in the future.
