Retail News CRM

Tag: Thailand

  • Thailand’s CP All to launch 7-Eleven in Laos

    Thailand’s CP All to launch 7-Eleven in Laos

    Thailand’s CP Group is taking the 7-Eleven convenience-store chain into Laos after winning franchise rights for the country.

    The first 7-Eleven store in Laos will be opened in the capital city, Vientiane in 2022.

    “With its remarkable success in Thailand, I can think of no one better than CP All to bring the 7-Eleven brand to consumers in Laos,” said Joe DePinto, CEO at 7-Eleven. “This relationship promises to bring additional jobs and economic opportunities throughout the region.”

    Under the agreement, CP Group’s subsidiary CP All will oversee store construction and start to modernize the small-retail environment, according to the company. The 7-Eleven Laos network will offer international products, beverages, snacks, and consumables fresh foods with recipes developed for regional tastes.

    CP All now holds franchise rights for 7-Eleven in three Southeast Asian countries, with Laos following Thailand and Cambodia. Laos will be the 7-Eleven’s 20th international market.

    CP Group signed a master franchise agreement to operate the chain in Cambodia last year. In July, the company received reports of an unauthorized party representing itself as 7-Eleven’s master franchisee in the country and attempting to sell outlets.

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  • KBank Completes First Transaction Reference to New Thai Overnight Repurchase Rate

    KBank Completes First Transaction Reference to New Thai Overnight Repurchase Rate

    Murex, the global leader in trading, risk and processing solutions for capital markets, powered an overnight indexed swap derivatives transaction for KBank based on THOR, the new Thai reference rate. KBank successfully completed the first such transaction referencing THOR on August 31. 

    The interest rate swap transaction based on THOR represents a critical inaugural step—it sets the stage for new markets for THOR-linked derivatives and cash products.  

    KBank, also known as KASIKORNBANK, executed the transaction after bespoke THOR mechanisms and configuration facilitated by Murex, a long-term technology partner to the Thai bank. KBank is Thailand’s largest lender by assets and has 70 years of experience in the country.  

    “This is a remarkable moment and an important milestone for KBank history and the local financial community to create a robust interest rate derivatives market based on THOR,” said KBank Capital Markets Business Division Head Thiti Tantikulanan. “The KBank team is excited to have been a part of this transaction. Our close collaboration with various stakeholders in Thailand, including the Bank of Thailand and the Murex teams, will contribute to the development of a liquid derivatives market based on the new benchmark rate after the LIBOR discontinuation at the end of 2021.” 

    In 2019, the Bank of Thailand, with inputs from the Thai Bankers’ Association and the Association of International Banks, established a Steering Committee on Commercial Banks’ Preparedness on LIBOR Discontinuation.  

    KBank was an active part of the committee, whose tasks included proposing the replacement rate for the Thai Baht Interest Rate Fixing contract (THBFIX), which LIBOR cessation puts at risk. That replacement rate is THOR, which was finalized in April. 

    “We’re very proud to have been an advising financial institution to the Thai central bank in this critical initiative,” said Thiti Tantikulanan. “To have completed the first transaction using this rate is a great feather in our cap. It is also an important milestone for THOR.” 

    Murex was thrilled to deliver the core technology to KBank, according to Guy Otayek, CEO of Murex APAC. 

    “Collaborating with KBank has always resulted in innovative solutions,” said Guy Otayek.  “Though we’ve been working with them for many years—KBank has more than 500 active users of MX.3—this transition project represents a longstanding commitment to bringing innovative solutions in Thailand and Southeast Asia. This first transaction powered by MX.3 is another great illustration of our unique expertise to help our client community transition away from LIBOR on data, analytics, operations and accounting, and provide them with the mechanisms to easily adopt new RFRs. This first transaction proves that Murex is the right partner to serve the capital markets here in Thailand.” 

  • Thai retailers downsizing, refocusing e-commerce

    Thai retailers downsizing, refocusing e-commerce

    Thai F&B and experiential retailers are likely to open fewer stores or downsize in scale for the remainder of the year following an unprecedented hit to the industry brought on by the coronavirus pandemic.

    The sobering view of Thai retail’s prospects for the remaining months of this year came out of a new CBRE research report conducted in May, finding a high degree of uncertainty for the foreseeable future.

    “What we have been seeing in the past three months are brand-new challenges that took everyone by surprise,” said CBRE Thailand head of advisory & transaction services – retail Jariya Thumtrongkitkul.

    “For around two years, we have been saying that those who cannot adapt quickly enough to the shifting retail landscape will not survive, but this is on another level. Retailers have to change their business operations not only to match the drastic drop in footfall but to accommodate a new way of shopping.”

    According to the Bank of Thailand, figures from the May retail sales index show a year on year drop of 34 percent, much of which is attributable to a decline in the sale of vehicles and fuel. While final figures are as yet unavailable, a general drop is expected in the sales number for both food and non-food retailers in the territory for the period in question.

    Adaptive strategies from both landlords and retailers have attempted to restore a healthy business outlook, including flexible rental terms and various sales and marketing strategies such as longer grand sales events and frequent mall activities.

    The CBRE report suggests that eventually, resizing existing rental space will emerge as an increasingly important approach for tenants to become more cost-effective. It expects that e-commerce penetration will no longer be optional but a must for Thai businesses to survive.

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  • Visa launches “Team Shop Chat Thai” lucky draw campaign to help power Thailand’s economic recovery

    Visa launches “Team Shop Chat Thai” lucky draw campaign to help power Thailand’s economic recovery

    Visa, the world’s leader in digital payments, today announced the launch of “Team Shop Chat Thai” lucky draw campaign offering rewards to Visa cardholders.  The campaign is a collaborative effort led by Visa, along with its bank and merchant partners, to stimulate local economic activities and support Thailand’s economic recovery.

    Under the campaign, Thai shoppers stand a chance to win prizes worth up to 2,000 baht when spending a minimum of 1,000 baht per receipt on their Visa cards, including credit, debit or prepaid.

    Prizes include a 2,000 baht hotel stay, Thai Smile air tickets to the value of 2,000 baht, and 1,000 baht worth of entry tickets to tourist destinations in Bangkok, Pattaya, Chiang Mai and Phuket.  The total prize pool will see 2,000 prizes to be given away worth a total of 3,000,000 baht.  The campaign runs from today to 30 September 2020.

    Visa has recently announced its cooperation with the Tourism Authority of Thailand (TAT) to expand the acceptance of digital payment locations in Bangkok and five major tourist cities across the nation in a bid provide local businesses with a more hygienic digital payment option and help recapture consumer confidence. Visa has also collaborated with Thailand’s leading FinTech companies to make it easier and faster for Thai social commerce sellers, including individual sellers and small businesses on social media platforms, to accept Visa card payments.

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  • Lu Partners Thai Bank to Grow Digital Wealth Management

    Lu Partners Thai Bank to Grow Digital Wealth Management

    The Singapore-based subsidiary of leading Chinese retail fintech Lufax has announced a strategic partnership to meet rising demands for digital financial services in Thailand.

    Lu will work with Kasikornbank to jointly build a digital wealth management platform, which will be jointly operated and managed by both parties, to serve retail investors in Thailand, the company announced in a statement on Monday.

    The world is about to enter another wave of digital disruption as big players like commercial banks morph into fintech organizations. It is imperative that we quickly adjust ourselves and strengthen our capabilities to seek new business opportunities, Kattiya Indaravijaya, Kasikornbank CEO, said about the partnership.

    Established in 1945, Kasikornbank is the fourth-largest commercial bank in Thailand, with 17.3 million customers, including 12.7 million online users. The bank has been actively promoting the digitization process in recent years, and is committed to providing a full range of financial services through digital platforms to its customers.

    Lu International, Lufax’s first international arm, was set up in Singapore in 2017. Since then, it has grown its operations and market reach, which now spans several markets in Asia, with over 380,000 registered customers.

    The company said it plans to capitalize on growth opportunities for financial services in up-and-coming economies throughout and beyond Southeast Asia.

    «We will continue to grow our capabilities in Southeast Asia, extending our footprint in the region to meet the needs of our customers and support the business growth of our partners,» Kit Wong, Lu International CEO, said.

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  • AEON Thailand Foundation donates computers and school necessities to The Thai Red

    AEON Thailand Foundation donates computers and school necessities to The Thai Red

    Ms. Suporn Wattanavekin (2nd from left), chairman of AEON Thailand Foundation donated computers, sport equipment, and water dispensers valued 1,095,385 Baht to Relief and Community Health Bureau, The Thai Red Cross Society, received by Lt.Gen.(Rtd) Amnat Barlee, M.D., Director (at the center). The supplies will transfer to schools and unprivileged communities nationwide. One of AEON Thailand Foundation’s mission is to make better living for local areas across Thailand.

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  • Audi India Introduces Ready To Drive Service Campaign With Special Offers

    Audi India Introduces Ready To Drive Service Campaign With Special Offers

    Audi India has rolled out its new Ready To Drive service campaign that brings a host of offers and benefits for its customers. Under the Ready To Drive campaign, customers can avail a 20 percent discount on brake pads, discs, and sensors, as well as a 10 percent discount on Audi genuine accessories, Audi Collection and merchandise for all models. The discount also extends to purchases made on the company’s virtual store. Customers can also avail savings up to 50 percent on myAudi Connect dongle on select vehicles in the range.

    Customers can save up to 20 percent on purchasing an extended warranty under the service campaign.

    Furthermore, Audi is offering savings up to 20 percent on availing extended warranty and service plans as well as the Comprehensive Service Value Package. For cars older than five years at the start of the campaign, customers will be eligible for a complimentary lube service. Customers will need to get in touch with their nearest authorized workshop to avail of the benefits of the campaign. The service campaign begins from August 17 and will continue until September 30, 2020.

    Commenting on the announcement, Balbir Singh Dhillon, Head of Audi India said, “At Audi, the customer is at the heart of everything we do. In line with our overall business strategy, we are happy to announce a service-specific campaign that brings savings and a host of offers that will ease a return to normalcy in the post lockdown period. All our workshops are fully sanitized and are constantly monitored to ensure that maximum hygiene is maintained at all times. We have seen increased aftersales activity over the last few weeks and we look forward to welcoming back our customers to our service centers. It is our endeavor to ensure that all Audis are running at their best, always.”

    The new campaign comes as life across the country goes back to normalcy in a phased manner with vehicles spending more time on the road instead of the garage. The service packages will also help those customers that have had their vehicles parked for a long time since the start of the lockdown.

    Audi India has been on a product offensive since October last year and has introduced four new models so far including the new-generation A6 and A8 L, Q8 SUV, and the RS7 Sportback. The automaker is gearing up to introduce the RS Q8 by the end of this month or in early September. The automaker also commenced online sales and service of its vehicles in May this year in the wake of the lockdown. More recently, the company announced the ‘One App’ that caters to the needs of new and existing customers.

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  • Thai, Vietnam retail back at pre-Covid-19 levels says Central Retail CEO

    Thai, Vietnam retail back at pre-Covid-19 levels says Central Retail CEO

    Thailand’s Central Retail Corporation says sales in its home and offshore markets have already bounced back to pre-Covid-19 levels.

    Revealing a loss of US$80.7 million in the June quarter, CEO Yol Phokasub said its businesses are showing a positive sign of recovery, thanks to the group’s agility.

    “Since June, our business in Thailand, Vietnam and Italy has resumed its sales at the same pace as what had happened before the Covid-19 outbreak in February,” he said. “Its profit (EBITDA) has also been positive again.”

    Phokasub said trading at more than 80 percent of the group’s retail space was suspended for more than 46 days of the 91-day second quarter when the pandemic hit all three countries. But despite the restricted trading, the company’s quarterly revenue was down only 21 percent year on year to $1.33 billion.

    Revenue for the first six months of the year reached $3.07 billion, declining by just 10 percent, with a half-year loss of $52.2 million, down by 139 percent.

    Phokasub said the company’s investment in an online model three years paid off during the pandemic as it was able to migrate some trade online.

    “During the Covid-19 crisis, the main factor that allowed the business to continue in a secure manner was solid support from customers, business partners, and the contribution from all employees who whole-heartedly worked hard and adjusted their work to offer the best services to customers, as well as resilient business strategies, including cost, investment, and expenditure management, and an efficient liquidity boost enabled Central Retail to regenerate its profit quickly,” he said.

    “Central Retail foresees the continuous recovery of the business in the second half of 2020 regarding positive signs including the policies of the government and the capability of its new economic team that will be driving the economy, helping SMEs and stimulating employment, especially in retail and service sectors which cover more than 19 million workers. Public health measures are also important.”

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  • Ikea Thailand and Greyhound collaborate on designer homewares range

    Ikea Thailand and Greyhound collaborate on designer homewares range

    Ikea Thailand has launched a limited collection with local retailer Greyhound Original, which operates fashion shops and restaurants in Southeast Asia.

    Called “Sammankoppla”, which means interconnect or unify, the Ikea x Greyhound collection offers furniture and home accessories for small-space living.

    “Since multi-function and creativity is key in order to enable both a small-space living solution and an expressive design piece, we turned to Greyhound Original,” says Michael Nikolic, creative leader at Ikea Sweden.

    Designed by two Thai fashion designers from Greyhound,  Bhanu Inkawat, and Vitchukorn Chokedeetaweeanan, the Sammankoppla collection features bold patterns found in traditional Thai weaving.

    “Incorporating recycled materials that have their own history adds to this, with sustainability and creative re-purposing processes being key to the Sammankoppla collection,” said Clotilde Passalacqua, interior design manager at Ikea UK and Ireland.

    The Ikea x Greyhound collection includes a geometric cushion, a reusable carrier bag with “a unique twist on Ikea’s Frakta bag” and jug-shaped light.

    Launched in 1980 with a tagline “Basic with a twist”, Greyhound has marked its footprint in overseas markets including Hong Kong, Shanghai and London.

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  • Vietnamese rice now more pricey than Thailand’s

    Vietnamese rice now more pricey than Thailand’s

    With the Thai baht weakening, Vietnamese rice is fetching 3 percent higher prices in global markets than varieties from Thailand.

    Vietnam’s 5-percent broken rice has been priced at $468-472 per ton since August 8, $15 more than its Thai rivals. The prices have risen by 6.8 percent since the beginning of this month.

    Vietnam was the third-largest rice exporter last year behind India and Thailand. In the first seven months of this year, it exported $1.9 billion worth of grains, up 10.9 percent year-on-year, with the Philippines being the top buyer, according to the Ministry of Agriculture and Rural Development.

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  • Starbucks unveils first unmanned self-serve outlet in Thailand’s

    Starbucks unveils first unmanned self-serve outlet in Thailand’s

    Starbucks Thailand has launched its first-ever self-service machine with full customizable capabilities and digitized payment options.

    Located inside Bangkok’s new AIS eSports studio at Samyan Mitrtown mall, the venue aims to serve a boost of caffeine for the gamers, serving beverages 24 hours a day.

    A cup of coffee from the machines is priced from US$1.93 (THB 60) which is less than the price at a staffed branch. The drink is fully customizable via a digital touch screen.

    In five easy steps, a consumer can select their drink, tailor it to their liking and scan the QR code to pay either through Rabbit Line Pay or using a general QR code payment through their native banking app.

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  • Thai super-star singer Ying Lee’s concert in the sky spices up Thai Vietjet’s inaugural Bangkok – Khon Kaen flight

    Thai super-star singer Ying Lee’s concert in the sky spices up Thai Vietjet’s inaugural Bangkok – Khon Kaen flight

    Thai Vietjet today inaugurated its maiden flight VZ210 from Thailand’s capital airport of Suvarnabhumi to Khon Kaen, the country’s commercial and political centre in the Northeastern region. Celebrating the new service, Thai Vietjet gave passengers a memorable surprise with a ‘Ying Lee’ concert in the sky, complete with a full team of dancers and cabin crew, along with nice corporate souvenirs.

    In celebration of the new route, the airline also launched a mega promotion from just THB 5 for a one-way ticket (approx. US16 cents) (*) for booking throughout the five golden days of 1st – 5th August 2020 at their website or Vietjet Air mobile app. The special promotion tickets are applied for all Thailand domestic flights of Thai Vietjet traveling during 1st August – 30th September, 2020.

    Aiming to facilitate domestic travel in Thailand, Thai Vietjet has constantly increased its flight frequency and destinations from Bangkok Suvarnabhumi Airport. Currently, the carrier serves 8 flights/day to Phuket/Chiang Mai, 3 flights/day to Chiang Rai, 2 flights/day to Udon Thani/ Krabi/ Hat Yai/ Khon Kaen in which the flight frequency for Suvarnabhumi – Hat Yai service will be increased to 3 flights/day from 15th August 2020. The airline will also inaugurate the Suvarnabhumi-Nakhon Si Thammarat flight on 6th August 2020. It has also introduced on-line check-in service for domestic passengers traveling out of Suvarnabhumi airport for more convenience.

    The new route Bangkok- Khon Kaen marks the airline’s 7th route from its Suvarnabhumi hub and is operated 2 flights daily, with a flight duration of around 1 hour 5 minutes per leg as per the schedule below:

    Flight No. Departure from Suvarnabhumi Arrival at Khon Kaen Flight No. Departure from Khon Kaen Arrival at Suvarnabhumi
    (Local time) (Local time)
    VZ210 07.30 08.35 VZ211 09.05 10.15
    VZ212 15.45 16.50 VZ213 17.20 18.30
  • Taco Bell Joins Hands with foodpanda to Beat Your Hunger

    Taco Bell Joins Hands with foodpanda to Beat Your Hunger

    Taco Bell, the world-famous Mexican food chain join hands with foodpanda, the first online food delivery service in Thailand, launched its exclusive “Beat Your Hunger” promotional campaign, offering a 20% discount for Taco Bell special bundle sets: Couple Set, Family Set and Party Set, starting from 5 August to 30 September 2020.

    Mr. Chalermchai Mahagitsiri, President and CEO of TTA and Director of Siam Taco Co., Ltd., said “Partnering with foodpanda combines both companies’ strengths and excellent service, which customers will perceive as valuable benefits.   The “Beat Your Hunger” promotional program will enable Taco Bell to attract new customers and encourage repeat orders from existing customers.  We believe that our customers will feel greater convenient to place order with foodpanda, thus, our sales volume from delivery order will be increased.”

    Come Reward Yourself with delicious Taco Menu from Taco Bell. Currently, Taco Bell operates 6 branches in Thailand: The Mercury Ville @Chidlom, Siam Paragon, Central Pinklao, Samyan Mitrtown, Central Westgate, and Sukhumvit Soi 11. Every store adheres strictly to safety measures in accordance with government policy and guidelines set by the Centre for the Administration of the Situation due to the Outbreak of the Communicable Disease Coronavirus 2019 (COVID-19). For further details on Taco Bell activities, news and promotions, please visit Facebook: facebook.com/TacoBellTH, IG: @TacoBellTH, Twitter: @TacoBellTH, and Line: @TacoBellTH.

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  • King Power Thailand sales axed 50 percent

    King Power Thailand sales axed 50 percent

    Thai duty-free retailer King Power is anticipating a drop in sales revenues of 50 percent in the wake of the coronavirus pandemic.

    The firm has attempted to drum up business while international travel is largely frozen via an online sales strategy, but it has not been able to offset the steep fall in business with online revenues contributing just 10 percent of total business, far short of the hoped-for 20 percent.

    Just two King Power outlets out of 11 nationwide have reopened since the Covid-19 outbreak.

    “Despite the huge sales drop, we don’t have any plans to lay off any of our 11,000 staff,” said King Power CEO Aiyawatt Srivaddhanaprabha. “Instead, we assigned them to sell King Power products via their own social media accounts and via King Power online.”

    Aiyawatt is a participant in the Thai government’s Thailand Smiles with You campaign, promoting the nation’s image and economic prospects during global recovery via the English Premier League team Leicester City FC, which Aiyawatt chairs.

    “As Thais, we are proud to cooperate with the government in mitigating the adversity and supporting projects that will both, directly and indirectly, benefit our country’s economic and social wellbeing,” said Aiyawatt, “hoping that it will lead us through this crisis safe and sound”.

    The campaign will see the phrase “Thailand Smiles With You” on Leicester City football team jerseys and signboards throughout the 2020–21 season.

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  • Opening date revealed for Apple Thailand’s second Bangkok store

    Opening date revealed for Apple Thailand’s second Bangkok store

    Apple Thailand’s second retail store in Bangkok will open at the CentralWorld shopping center this week. A reliable local source says the opening date is scheduled for Friday, July 31. However, Apple’s Thai website has posted a colorful version of the brand’s logo with Thai lettering inside, teasing that the Apple CentralWorld store is “coming soon”.

    The website also features a tagline ‘Intersection of the creative idea and inspiration’, which refers to the Ratchaprasong intersection where Apple’s new space is located.

    Earlier this year, photos of the Apple Thailand’s second store were leaked on Twitter, showing a preview of what the store will look like. Apple Thailand’s second store features a unique design with a whirling cylinder of glass and curved timber radiating in concentric circles. It is located on part of a large courtyard outside the mall.

    The Apple CentralWorld store reflects the brand’s confidence in the Thai market, despite the Covid-19 situation in the country.

    Apple Thailand opened its first store at the IconSiam shopping center in Bangkok in November 2018.

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