Central Pattana (CPN) has allocated 400 million baht this year to gear up for promotions over the holiday season.
Nattakit Tangpoonsinthana, executive vice-president for marketing, said CPN and its partners announced a promotion titled "The Kingdom of Happiness 2020 … Where Life Celebrates Holiday Promotion and Displays".
The campaign will last 46 days until the New Year countdown event, with many activities planned to stimulate shopping at its 34 retail complexes. The company expects activities will boost daily visitors by 20% to 1.5 million visitors during the period.
About 100 events will be held nationwide to engage with customers and lure them to Central malls.
"With the economic environment and fierce retail competition, the company changed the theme of New Year's celebrations. There will be 100 artists, actors and actresses to make CentralWorld the most exciting and largest countdown in Asia. CentralWorld is the Times Square of Asia," he said.
Mr Nattakit said all 12 Central malls nationwide will be promoted for entertainment countdowns. The company expects to draw 250,000-300,000 visitors, both Thai and foreign tourists, to complexes this holiday season.
He said the strategy is based on CPN's vision of making all 34 malls the "centre of life" for locals, both in Thailand and Malaysia.
"Central malls are more than just retail space to sell products and services. Rather, they are experience centres that offer diversified and personalised experiences that accommodate the lifestyles of all individuals, especially the younger generation," said Mr Nattakit.
He said business is back on track this month after a slight hiccup in October because of a slowdown in Chinese tourist numbers.
With the promotions offered by the Tourism Authority of Thailand, more Indian tourists have come to Thailand. Indians are the third largest shopper demographic at CentralWorld with 1.4 million people, ahead of South Korea and Japan.
China comprises the largest foreign customer market for Central malls with 8.5 million people, followed by Malaysia with 2.3 million.
"I believe Bangkok still has value for shopper's money," said Mr Nattakit. "We are planning to add services to accommodate Indian shoppers."