Siam Makro Plc, the operator of Makro cash & carry stores and Lotus's hypermarkets, has allocated 25.3-27.5 billion baht this year to expand its retail and wholesale businesses.
Saowaluck Thithapant, group chief executive of Siam Makro, said the economic and tourism recoveries after the full reopening of Thailand are expected to have a positive impact on wholesale and retail businesses, as well as hotels, restaurants and the catering industry, which is the company's customer base.
Of the planned investment, 13.1-14.1 billion baht is for Makro's wholesale business, while 12.2-13.4 billion is for Lotus's retail business, including branch expansion and developing distribution centres, digital systems and new businesses.
In 2023, Makro Wholesale plans to open 12 new branches in Thailand and 4-6 branches in other countries where Makro already has a business presence.
As for Lotus's retail business, it plans to open 3-4 hypermarkets and 10-14 supermarkets in Thailand and Malaysia, as well as 100-150 Lotus's Go Fresh branches.
Following a positive response to the opening of Lotus's North Ratchapruek Smart Community Center, the company plans to increase the retail space for another 146 Lotus's shopping complexes over three years, turning them into Smart Community Centers.
The company also plans to develop new projects with retail spaces ranging from 1,000 to more than 10,000 square metres, depending on location, target customers and purchasing power, she said.
Siam Makro implemented an online-to-offline strategy to integrate both sales channels, catering to the needs of modern consumers who seek convenience when purchasing products.
Ms Saowaluck said data would be analysed to design campaigns that better meet customer demand, while platforms will be developed to increase sales opportunities for small and medium-sized enterprises.
She said store sales for wholesale and retail the first two months this year have grown, with the company bullish its revenue this year could exceed Thailand's economic growth and core inflation rate.