Retail competition in the Phetkasem area will intensify in the near future as retailers gear up for surging business opportunities from a new mass-transit route and its effects on the property market.
Seacon Square Development Co plans to make a soft launch of Seacon Bangkae by mid-September, and it has another new retail project worth over 4 billion baht from Central Pattana Plc in the Phutthamonthon area.
Existing retail malls are expected to undergo major facelifts to protect their market shares.
The Mall Group teamed up with Muang Thai Life Assurance and CPF Trading to improve its 10,000-square-metre water park on the roof of its branch in Bangkok's Bang Kae district.
It will allocate 40 million baht for marketing its renovated water park.
The Mall Group spent more than 200 million baht to redesign several of its Fantasia Lagoon water parks. Some 75 million baht was spent at its Bang Kae branch before renovating branches at Bang Kapi and Ngam Wong Wan in Bangkok and at its mall in Nakhon Ratchasima province. All work is expected to be complete by next year.
Scenery, atmosphere and machines have all changed at Fantasia Lagoon.
Luckana Naviroj, a senior executive vice-president of The Mall Group, said water parks are a magnet attracting families to its malls.
The company expects the revamped water parks will draw 20-30% more visitors. Some 600-700 visitors come to Fantasia Lagoon on weekdays and 3,000 during weekends.
"We want an alternative activity for children other than computer games," said Ms Luckana.
Chamnarn Maytaprechakul, the group's senior chief marketing officer, said 200 million baht to make over the Mall Bangkae's overall complex, which is scheduled for completion next year.
It plans to increase the tenant mix for food and beverages and fashion to fulfil demand.
To draw younger customers, the company set up a digital marketing department to create new events through online media. It has activities lined up for The Mall's M Card members until Oct 31.
First-half sales for The Mall grew by 10% to 25 billion baht.
"I'm optimistic about the retail outlook in the second half of this year. For the retail sector, I think 2013 will be another good year," said Mr Chamnarn.
About the author
- Writer: Pitsinee Jitpleecheep
Position: Business Reporter