Power Buy Co, the Central Group's electrical appliance retail chain, will spend 1 billion baht to open 11 new outlets next year, mainly upcountry to capitalise on urbanisation.
The new shops will take Power Buy's number of branches to 94, while part of the money will be used for a facelift of its CentralWorld store in Bangkok.
''We're optimistic about the outlook for electrical appliances in 2013, which will be a golden year for the industry thanks to several positive factors,'' said Sa-angtip Amornchat, the vice-president for marketing.
Full commercial 3G service will prop up the growth of smart devices, which are core products of Power Buy.
Products such as smart TVs and internet TVs are expected to be in demand.
The mushrooming of new condominiums along skytrain routes and the continued development of upcountry property projects will also be a plus for sales of electrical appliances.
Moreover, the trend of lower interest rates will give people more purchasing power to spend on home appliances. ''I don't see any negative factors in the market at this moment,'' Mrs Sa-angtip said.
She said demand for appliances has already recovered from last year's floods.
Manufacturers, financial institutions and Power Buy have joined hands to stimulate sales by introducing special monthly repayment plans for products.
Power Buy's sales this year are expected to grow by 20% to 20 billion baht, about 5% higher than projected.
Next year, the company expects sales to increase by 15% to 23 billion baht.
Power Buy yesterday announced it will spend 300 million baht to open three standalone shops in Chanthaburi, Chon Buri and Lop Buri provinces, taking its number of branches to 83 this year.
Of the total, 36 branches are in Bangkok and the remaining 47 upcountry.
The three new stores have central locations and will link easily to all regions, supporting the company's growth when the Asean Economic Community launches in 2016.
Power Buy expects sales of 25 million baht from each branch per month.
The company will move aggressively on selling its products through e-commerce next year after two years testing demand and its support system.
About the author
- Writer: Pitsinee Jitpleecheep
Position: Business Reporter