Siam Piwat Co., Ltd., the owner and operator of prestige retail developments such as Siam Paragon, Siam Center, Siam Discovery, and Paradise Park, as well as the joint venture partner of ICONSIAM, today, announced that it is introducing a revolutionary new retail concept to Thailand with the opening of the new Siam Discovery retail destination in the second quarter of 2016, after a Bht 4,000 million re-build.
Mrs. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd. said: “The new Siam Discovery is the first hybrid retail destination in Thailand. We have created a venue where thousands of lifestyle brands are brought together under a single universal concept that puts customers at the centre, rather than brands. That means everything presented at Siam Discovery is not organized by brand, or category, as in traditional retailing, but by the visitors’ interest, because our purpose is no longer just to sell products but to provide an extraordinary and emotional experience to the visitor allowing them to discover themselves, as well as express themselves.
“We then enhance that experience by presenting a story rather than just products, and by making the experience in our store highly interactive as well as allowing visitors to personalize their purchases. We give visitors opportunities to make a statement about their life preferences, whether it be about sustainability or a love of nature, and to support those preferences through their purchases, and through occasions to interact with like-minded people and communities. And then we further enhance those experiences through the power of the most advanced digital technology,” she said.
Mrs. Chutrakul added, “Taken together, this new retail format makes a visit to the store an exciting, emotional experience that gives visitors a great opportunity to play, to experiment, to discover and re-discover themselves. We want people to fall in love with that experience.
“Our role as a retailer has advanced to another level and become one of managing visitors’ experiences and emotions at the destination, rather than just one of managing products, categories and displays,” she said
“We target all genders and all age groups, and there is something for everyone at all price points,” Mrs. Chutrakul said.
“Come Play With Me”
Empowering visitors to create their own personal style
According to Mrs. Chutrakul, “The new Siam Discovery says ‘Come play with me!’ to visitors, inviting them to experiment by trying out new products, new ideas, re-thinking conventions, and customising their purchases, all across 40,000 square metres of floor space.”
“We are completely overturning past retailer practice of organising and presenting products by brand or category. Instead, at the new Siam Discovery, multiple brands and complementary merchandise are brought together for the convenience and enjoyment of the visitor and unified with underlying stories. They are organised and presented by type, function, relevance and, most importantly, the visitor’s interest.
“This is a pioneering retail concept that empowers visitors to mix and match across brands and categories to discover, define and create their own distinct, personal style, while also pursuing related interests and passions that need not be tied to any purchase intent. It has never been done before in Thailand and on such a scale, and it’s a concept that will bring new excitement to any visit to Siam Discovery. We estimate it will also double Siam Discovery’s per-square-metre sales within a year,” she said.
Mrs. Chutrakul added that the new Siam Discovery is called ‘The Exploratorium’ and is a ‘lifestyle lab’ because it allows every individual to explore who they want to be and what is the style that best reflects their true self without the constraints of a particular brand or school of design. She said that visitors can try new ideas across the hundreds of categories and more than 5,000 international and local brands on offer, many of which are first-time-in-Thailand brands. It includes everyday products, sustainability products, trend products, collaboration and limited edition collections, as well as innovative products.
Visitors can go even further in experimenting with creating their own style because the new Siam Discovery also provides bespoke personalisation opportunities that let customers tailor their purchases to their own personal preferences.
Immersive Story-Telling, Advanced Digital Technology, Interactive Experience
The presentations of products have a very strong story-telling component. As visitors move through the various parts of Siam Discovery, they are immersed in the heritage and the intangibles of a brand and a category. They are also drawn into stories relevant to their interests, their beliefs, and trends rather than just being presented a selection of products.
“These experiences are enriched and heightened through advanced digital technology as well as many interactive experiences that are offered to the visitor. It’s a totally new and an extraordinarily exciting way of presenting products and their associated lifestyles,” she said.
“As part of this ‘immersive experience’, Siam Discovery has created areas for people of similar interests to interact, share experiences, make friends and create their own communities, whether they be designers, sportsmen, collectors, health gurus, or travellers. Not only can they do things with other people, they can also do things for other people: through their purchases, they will be able to indulge in their passions and convictions, such as supporting sustainability or other causes important to them,” she added.
Thailand on the World Stage
Mrs. Chutrakul noted that the introduction of a revolutionary, new retail concept will reinforce Bangkok’s appeal as the retail hub of the ASEAN Economic Community (AEC) and help make the city a favourite shopping destination for the world.
“Siam Area is Bangkok’s top-ranked retail destination with more than two million square metres of world-class attractions and the widest variety of shopping, dining, art, culture and education offerings in Thailand, attracting traffic of over 160 million visits, annually. The new Siam Discovery enriches the total package of offerings in Siam Area by introducing a completely new proposition,” she said
Top Global Designer ‘nendo’
‘nendo’ (Mr. Oki Sato), who is one of the world’s top designers and a person voted as among the ‘100 Most Respected Japanese’ by Newsweek Magazine, provided the overall design inspiration for the new Siam Discovery. He was engaged as the chief consultant for the building design as well as the interior design, while Urban Architect Co., Ltd. was the Thai architectural design and interior design company for the project.
The new Siam Discovery is nendo’s largest project, ever, and his first in Thailand.
Mrs. Chutrakul said, “We invited nendo to provide the inspirational design concept for Siam Discovery because Siam Piwat looks at the future from a global perspective rather than just the potential of the Thai market. This is because Siam Piwat is committed to the business of creating extraordinary experiences for customers who are not only Thai people but also visitors from every corner of the world.
“In line with our growth strategy, Siam Piwat is creating unprecedented destinations in Thailand that can compete with the best of the world’s destinations and help support Thailand to become a top-ranked global retail and entertainment paradise.”
“Within the first year, we aim to have 100,000 people a day visit and fall in love with the new Siam Discovery, of which around 65% are expected to be Thai and 35% to be international visitors. What our visitors will have in common will be their progressive, independent-minded outlook on life, and a passion to explore and try new things,” she said.
The new Siam Discovery follows from Siam Piwat’s highly successful Bht 1,800 million re-build of Siam Center three years ago, which pioneered a revolutionary retail development concept where the developer worked collaboratively with retailers and brand owners to give the entire venue a consistent visual identity that is clearly and distinctly Siam Center. The concept has been showered with eight highly prestigious international awards, including recognition as one of the world’s 5 best-designed retail centres by the retail industry’s leading international association – the International Council of Shopping Centers (ICSC).
