Retail News CRM

Tag: Thailand

  • KResearch revises downward its 2019 economic projection to 3.7 percent

    KResearch revises downward its 2019 economic projection to 3.7 percent

    KResearch held a panel discussion on “Measuring the Thai Economic Temperature after Election” on Tuesday April 2, 2019. According to KResearch poll conducted among members of the general public and the business sector before and after the election, it was found that the election has given a boost to confidence. Nevertheless, close attention should be paid to the formation of the new government which may influence the confidence.

    Ms. Nattaporn Triratanasirikul, KResearch Assistant Managing Director, holds the view that, “No matter how the government is formed, Thailand will be challenged by the global economic slowdown which will, in turn, affect its exports. The new government has to expedite the implementation of economic stimulus policies under the FY2019 budget, including the passing of the FY2020 budget bill. If the new government can be formed within June 2019 and the economic stimuli can be implemented as expected, household consumption will be boosted by 0.2-0.4 percent of GDP, and the Thai economy in 2H19 will be brighter than in 1H19.”

    However, KResearch has revised downward its growth forecast for the 2019 Thai economy to 3.7 percent, or within a band of 3.2-3.9 percent, from the 4.0 percent pace before. The new economic growth projection reflects an expected slowdown in Thai exports resulting from the economic downturn in Thailand’s key trade partners despite better-than-expected improvements seen in the US-China trade dispute. KResearch has also cut its export growth projection for 2019 to 3.2 percent from previously 4.5 percent, and its 2019 import growth forecast to 4.3 percent from 5.3 percent.

    For the outlook of domestic interest rates, Ms. Nattaporn expects the policy rate to be kept at the 1.75 percent throughout this year. High liquidity in local commercial banks and the banks’ approach to gradually approve loans currently should not intensify the competition in the commercial banks’ interest rates. As for the movement of Thai Baht, KResearch forecasts that the Thai Baht will weaken and move within the range of THB31.20-32.50 per dollar.  Factors deserve close attention are domestic issues, especially, political and economic situations.

  • Paragon mall adds more Retail brands On Level 3

    Paragon mall adds more Retail brands On Level 3

    Paragon mall has added a new retail and lifestyle concept on level 3, bringing together curated fashion brands.

    Launched in phases from last June, the refreshed 15,000sqft concept offers new names from fashion, beauty, bags and accessories, dining and lifestyle brands.

    In fashion, there are French-based women fashion Anne Fontaine, Indonsia label D2-i, European-made shoes Hue, European fabric Moiselle, Asia’s esteemed multi-brand fashion Pois, home-grown fashion designer Sabrinagoh, first concept store for ladies by Samsonite Samsonite for Her, Norwegian fashionable shoe brand with a bold personality Swims, and bespoke collection of jewelry Sulin Serio.

    For skincare and fragrances, there are Scandinavia’s leading cosmetic brand Make Up Store, beauty products from Escentials, and home scenting Flaming Queen, niche fragrances boutique Amaris.

    Western-meets-Sichuan café style dining Halcyon & Crane adds to dining options.

    Lees ook:

  • AirAsia to launch Phuket-Phnom Penh direct flights

    AirAsia to launch Phuket-Phnom Penh direct flights

    Thai AirAsia CEO Santisuk Klongchaiya said the airline has devoted great importance to adding routes to its regional flight bases, looking to build a strong network of destinations that provide the opportunity to add even further routes, providing ever greater convenience to travellers who will no longer need to stop over in Bangkok, said a release today (April 1) announcing the new flights.

    “Phuket is a very important strategic flight base for AirAsia that has grown steadily along with the addition of direct flights to CLMV (Cambodia, Laos, Myanmar, Vietnam) cities such as Siem Reap.

    “With the positive response we have received from international travellers, we decided to add Phuket-Phnom Penh, connecting the resort town to Cambodia’s capital. The route should well serve tourists as well as members of the business community of both countries,” Mr Santisuk added.

    The flights will operate on Monday, Tuesday, Friday and Saturday.

    Thai AirAsia operates nine international routes out of Phuket: Phuket-Wuhan, Phuket-Kunming, Phuket-Hong Kong, Phuket-Macau, Phuket-Siem Reap, Phuket-Singapore, Phuket-Kuala Lumpur (Code AK), Phuket-Penang (Code AK) and the latest addition Phuket-Phnom Penh starting June 1.

    Lees ook:

    Lees ook:

  • Deutsche Bank Appoints Head of Thailand

    Deutsche Bank Appoints Head of Thailand

    The German lender hires a new head from Siam Commercial Bank to fill the position left vacant since 2018. Deutsche Bank (DB) will get a new head for its Thailand operations in May, with the appointment of Pimolpa Suntichok as chief country officer and head of the financing and solutions group for Thailand, according to people close to the matter.

    Suntichok fills a position left by Phumchai Kambhato, who left the bank in 2018. She will report to Werner Steinmueller in her country management capacity and to Sreenivasan Iyer for her FSG responsibilities.

    Suntichok was previously the Senior Executive Vice President serving as the Head of Commercial Banking Solutions at Siam Commericial Bank, Thailand’s largest commercial bank. She brings over 20 years of experience in banking, having worked at Bangkok Bank, Jardine Fleming Thanakom Securities, Fitch Ratings (Thailand), and Standard Chartered Bank (Thailand). She joined SCB in 2008 to lead the structured finance practice for the Capital Markets Division and became the Head of Corporate Segment in 2015 and the Head of MultiCorporate Segment in 2016, according to SCB’s website.

    Future Uncertainty 

    Deutsche Bank in recent months has seen a raft of departures in Asia, including Southeast Asia Vice Chairman Philip Lee, Jakarta-based managing director Kunardy Lie, and North Asia COO

    Katherine Lai.

    DB, on its third CEO in four years, has in recent years scaled down its Asian operations as its focus has shifted towards Europe amid difficulties in the region. However, Thailand remains an important market for DB in Asia-Pacific, with the bank having a 40-year history in the country.

    The bank is currently in the midst of merger discussions with Commerzbank, which has cast uncertainty over Deutsche’s general strategy for the future.

    Lees ook:

  • Thailand delays 700-MHz auction

    Thailand delays 700-MHz auction

    Thai telecom regulator NBTC has postponed plans to hold a 700-MHz auction for at least three months due to delays establishing details of the auction terms.

    The regulator no longer expects to be able to hold the 700-MHz auction in May as originally planned, citing comments from the NBTC’s secretary-general.

    Instead the earliest timeline for the auction date may be August or September, as related conditions of the auction, including the reserve price, will not be concluded until May.

    Other terms which still need to be established including the process for recalling 700-MHz spectrum to be auctioned and the compensation regime for companies affected by the recall. The regulator needs at least three months to complete related procedures.

    According to the report, the delay is also aimed at giving operators more time to arrange bank guarantees.

    The NBTC plans to push on with the auction regardless of the official outcome 2019 Thai general elections –  Thailand’s first general election since the 2014 coup – which was held on Sunday.

    Lees ook:

    Lees ook:

  • EON and Aurora unveil special Songkran promotions Offering 10 months of 0% interest on gold and diamond loans

    EON and Aurora unveil special Songkran promotions Offering 10 months of 0% interest on gold and diamond loans

    Ms. Saranya Pipoppinyo (middle), Vice President of Marketing at AEON Thana Sinsap (Thailand) Public Company Limited, together with Ms. Lapatlada Ruetivarangkoon (left), Vice President and Mr. Anirut Srirungthum (right), Vice President Business Development of Aurora Design Company Limited unveils two summer promotions for AEON Member Card and AEON Credit Card holders through the AEON Happy Pay and AEON Happy Plan services. The first promotion is 0% gold loan installment for up to 7 months, starting from April 12th-14th, 2019. For the second promotion, customers will be able to take on a “Diamond loan” with 0% interest rate for up to 10 months, starting today until 30th April, 2019 at all Aurora Gold and Jewelry branches nationwide.

    Lees ook:

  • Centara to showcase traditional Thai heritage through Songkran

    Centara to showcase traditional Thai heritage through Songkran

     Centara Hotels & Resorts, Thailand’s leading hotel operator, is partnering with Smile in Love Wedding Studio to showcase Thailand’s rich cultural heritage embodied in traditional Thai clothing throughout the upcoming Songkran Festival 2019. Centara staff will wear traditional Thai costumes, providing guests with an up-close look at the timeless style and glamour of authentic Thai apparel. In addition to celebrating Thai clothing traditions, guests at every hotel and resort property across the group will be invited to take part in Thai cultural activities such as the offering of beautiful handmade jasmine garlands and the traditional pouring of scented water over the palms.

    Preparations are well underway at all 33 Centara properties within Thailand to extend a warm welcome and Thai-style hospitality to guests soon to arrive from around the world to join the Songkran festivities nationwide. All front-line staff will be dressed in traditional Thai costumes during the upcoming 11th – 15th April 2019 holiday period. Special activities, such as a booth for sprinkling scented water on the Buddha’s image, a set-up for pouring scented water onto elders’ palms, along with traditional Thai folk performances are also being arranged, enabling guests to experience the many appealing facets of this popular annual festival.

    As the Thai hotel brand-of-choice among both Thai and international guests, Centara takes great pride in delivering its renowned standard of Thai-style service and gracious hospitality to guests while celebrating an important and joyful cultural occasion together with millions of Thais.

    Lees ook:

    Lees ook:

    Lees ook:

  • AirAsia apologises for ‘Get off in Thailand’ advert

    AirAsia apologises for ‘Get off in Thailand’ advert

    AirAsia has apologised after its advertising campaign was labelled “harmful” in Australia. The advert containing the phrase “Get off in Thailand” was posted around the city of Brisbane to promote the airline’s direct route to Bangkok. Collective Shout, a grassroots campaign movement against the objectification of women claimed that the advert was promoting sex tourism in Thailand.

    Thailand has over 123,530 sex workers, according to a 2014 UNAids report.

    Melinda Liszewski, a campaigner at Collective Shout spotted the adverts on a Brisbane bus and posted the image to social media.

    She accused the airline of “promoting sex tourism.”

    A spokeswoman for Air Asia told the BBC: “AirAsia takes community feedback extremely seriously and the airline sincerely apologises for any inconvenience caused from recent concerns raised.

    “AirAsia can confirm the advertising campaign has ended and we instructed our media partners to have the advertising removed as soon as possible today from all locations.”

    One of the adverts was spotted at Brisbane Airport. It has confirmed on social media that its removal “is a priority.”

    Brisbane City councillor Kara Cook branded the campaign an “absolute disgrace” and said “it should never have appeared on our city’s streets.”

    She wrote on Twitter: “Council should be responsible & accountable for the ads on their buses.

    “I wrote to the LNP this morning demanding these buses be taken out of circulation. This shouldn’t have happened.”

    In response to the criticism, Brisbane City Council said that the Advertising Standards Board regulates advertising acceptability. It directed complaints to the board.

    Lees ook:

  • V-MORE expands their redemption product range to users

    V-MORE expands their redemption product range to users

    Today, V-MORE makes an indelible mark in the e-commerce space with the launch of a luxury fashion line for redemption. Consumers are able to redeem more than 800 products ranging from iconic luxury bags, shoes, apparels to exclusive accessories on V-MORE shopping site. International renowned brands, Gucci, Balenciaga, Burberry, Jimmy Choo, LV and Tods are amongst the swish brands that make their presence on V-MORE with their latest and new season range; giving consumers the widest and trendiest choice for redemption.
    V-MORE shop, save and earn program rewards sellers and buyers. Sellers list for free on V-MORE. Buyers receive rebates and earn points to redeem quality products. The more consumers shop, the more they are rewarded. The luxury products are offered to V-MORE customers for redemption globally.

    “V-MORE teams up directly with renowned fashion houses to offer luxury products for redemption that will be delivered to members right to their doorsteps globally. We will continue to provide an even wider range of products for our members to choose from,” said Sir Eldee Tang, CEO and Founder of Noble Vici.

    “Based in Singapore, Noble Vici boasts of a new five-storey HQ facility at Ubi Crescent specifically designed to oversee V-More operations regionally as well as to provide financial administration. E-commerce and luxury products are readily embraced by the Singapore market, forming a base ground here for us to have a foothold in and more importantly for us to expand regionally,” Sir Eldee added.

  • Hermes Thailand opens new Concept store in Phuket

    Hermes Thailand opens new Concept store in Phuket

    Hermes Thailand has opened a store in Phuket, within the Central Phuket Floresta mall.

    The 172sqm outlet, Hermes’ first in the country outside of the capital, Bangkok, signals the brand’s increasing confidence in the market and willingness to expand in the territory. It also attests to the emerging importance of Phuket’s burgeoning population and popularity with both Thai and foreign tourists.

    Hermes Thailand Phuket 1The store was designed by French architectural firm RDAI to fit with the mall’s main entryway with an exterior and an interior facade, admitting daylight from outside filtered by a bamboo claustra and featuring lacquered metal on the inside. The store’s lighting uses the Grecques lights designed for the brand in 1925.

    Featuring a range of curated local materials, the new Hermes Thailand store blends contemporary architecture with Thai cultural elements, with colours that reflect the sunny coastal location.

  • Daesang to sell Ministop stake to partner Aeon

    Daesang to sell Ministop stake to partner Aeon

    South Korean food manufacturer Daesang is reportedly exiting the convenience store business, selling its stake in the Ministop chain.

    A cut-throat industry in the territory, competition between players has become so intense that legislation is now in effect to forbid the opening of new convenience stores within 50 metres of existing outlets.

    Daesang’s withdrawal will likely result in the sale of its 20 per cent shareholding in the Ministop Korea brand to its Japanese partner Aeon, which attempted unsuccessfully to sell its own shares in the business last year.

    Insiders familiar with the transaction have revealed that talks between the partners are well-progressed and that the shares are likely to be transferred for KRW80–90 billion (US$70.8–$79.6 million).

    Daesang established Ministop with Aeon in 1997, but courted Aeon to purchase a majority stakeholding plus management rights to the business in 2003. The current transaction would remove Daesang from the business entirely, leaving Aeon with a 96.06 per cent stake of the country’s weakest contestant in the nationwide convenience-store playing field.

    Ministop achieved KRW2.6 billion ($2.3 million) in profits in 2017, compared with KRW13.3 billion ($11.76 million) in 2015.

    Lees ook:

  • An Evening in Full Swing with Biggles Big Band at Centara Grand Beach Resort & Villas Huahin

    An Evening in Full Swing with Biggles Big Band at Centara Grand Beach Resort & Villas Huahin

    The swing excitement has recently revisited Hua Hin as Centara Grand Beach Resort & Villas Hua Hin welcomed Biggles Big Band to delight Thai fans with hits from the golden era of jazz.

    The beautiful city of Hua Hin was in excitement as an Amsterdam-based 25-piece jazz orchestra, Biggles Big Band, recently revisited the iconic Centara Grand Beach Resort & Villas Hua Hin as part of their 2019’s Thailand Tour.

    Attended by hundreds of guests and all jazz lovers from across the globe, the event “A Big Night With Biggles Big Band” was a great success with Jan Weisheit (third from right), the hotel’s Resident Manager, personally welcoming and greeting Adrie Braat (third from left), the talented conductor, and the big band with the management team prior to the recreation of the magical sounds from the swinging-and-dancing era.

    Highlights of the glittering evening included tunes from their amazing musical repertoire such as In The Mood, Come By Me, Fly Me To The Moon, and many more famous jazz classics recreated with their well-known contemporary styles, all perfectly complimenting a wonderful atmosphere of the hotel.

    Lees ook:

  • Stationery retailer Smiggle targets Asia

    Stationery retailer Smiggle targets Asia

    Vibrant stationery retailer Smiggle is expanding within Asia following a record global performance reaching 34.8 per cent sales growth in the territory.

    Brand owner Premier Investments will be pushing Smiggle in South Korea, Thailand, Indonesia, and the Philippines, as well as the UAE, making the brand available in over 100 new locations by July this year.

    Smiggle will also be expanded to Canada in late 2019, giving the brand its first exposure to a “key North American market.”

    The brand’s total sales for the first half of the current fiscal year reached US$126.59 million, contributing to Premier’s increased group net profit of 13 per cent over the period to $62.87 million.

    Due to “major structural changes to the global retail industry,” the brand will partner with Amazon Europe to launch in France, Italy, Germany and Spain between April and July 2019, and is in talks with Alibaba to bring the brand to countries where the brand does not currently operate.

    Lees ook:

  • Docomo trials fiber manufacturing IoT in Thailand

    Docomo trials fiber manufacturing IoT in Thailand

    NTT Docomo and its Singapore subsidiary NTT Docomo Asia have commenced a trial of an IoT monitoring system to improve the manufacturing performance of a synthetic-fibers factory in Thailand.

    In the trial, Docomo Asia is deploying the IoT Solution Platform to visualize the operational status of production operations in the Thai factory.

    Docomo said IoT devices equipped with up to 30 different sensors are collecting operational information on the factory floor and then transmitting real-time data to the cloud via a mobile network.

    “Technicians will be able to use PCs, smartphones or tablets to remotely monitor the status of production operations via the platform,” Docomo said in a statement.

    “The IoT Solution Platform enables manufacturers to digitalize their operations and rapidly gather information from factory floors for improved efficiency in production management.”

    It also helps to reduce production downtime by allowing manufacturers to closely monitor the status of their production equipment to detect malfunctions, maintenance needs and so on, the Japanese mobile carrier said.

    NTT Docomo fabric manufacturing IoT trial in Thailand

    Service scheme (Source: NTT Docomo)

    According to Docomo, the platform is already being used by an automotive plastic parts manufacturer and is now being introduced in the textile industry to enable manufacturers to realize more efficient and reliable production operations.

    The trial is part of Docomo’s global IoT initiative launched last July to provide global connectivity, operational support, and consulting to Japanese manufacturers with global IoT operations.

    The trial will be conducted until March 31, and is being conducted in collaboration with Teijin Polyester (Thailand) Limited, a Teijin Frontier subsidiary company that manufactures polyester fibers, filament yarn, chips and more.

    Docomo expects manufacturers of synthetic fibers and other products across Southeast Asia to increasingly adopt the IoT Solution Platform to increase the productivity and quality of their production operations going forward.

    Lees ook:

    Lees ook:

    Lees ook:

  • Competition increases in Bangkok market

    Competition increases in Bangkok market

    Competition is increasing in the Bangkok retail-property market, according to international property consultant CBRE.

    The competition is focused on the bricks vs clicks sector as e-commerce grows, and the bricks vs bricks market, as developers build new malls.

    “All over the world, e-commerce is challenging traditional retail stores, and Thailand is no exception,” said CBRE in a report.

    Currently e-commerce only forms a small percentage of total retail sales in Thailand, but CBRE expects that to change rapidly.

    In the UK, 18 per cent of retail sales are now online rather than through traditional stores.

    Globally, retail tenants are having to pursue an omnichannel approach with both online e-commerce sales and offline traditional sales in stores. In many cases, this has led to a rationalisation of their retail portfolio and a reduction in the number of stores.

    In the Bangkok retail-property market, the threat to landlords is not just from the rise of e-commerce, but also from the increase in supply.

    2019-03-18 - Retail Supply in Bangkok

    Based on the latest survey by CBRE Research, there is more than 600,000sqm of space under construction due for completion by 2023, mainly in large-scale shopping malls like EmSphere, Bangkok Mall and One Bangkok. There are also new malls being planned where construction will start soon, such as the redevelopment of the Dusit Thani Hotel.

    Competition in the Bangkok retail-property market is going to be fierce and landlords are going to have to adapt to the new environment to survive. That, according to CBRE Research, will mean big changes to their business model.

    Historically, landlords have leased out space on three-year leases at monthly rents. Landlords have set rents based on the tenant’s ability to pay driven by business type, size of shop, which floor in the building and which location on the floor. Landlords have tried to extract as much rent as the tenant can afford to pay with the tenant bearing the obligation of a fixed amount of rent and assuming much of the business risk.

    Now the business model is changing with tenants wanting the landlord to share more of the risk by basing the rent on a percentage of the tenant’s revenue, known in Thailand as a Gross Profit (GP) rent.

    The landlord, along with the tenant, will benefit if business is good, but suffer if business is bad, with the landlord not only taking a risk on the ability of the mall to attract customers but also on the success of tenant’s business.

    Landlords are also now expected not just rent space but to be data providers and analysts.

    Tenants now want landlords to collect, analyse and share data on how many people come to the mall, how often and what they are spending their money on along with many other details, said CBRE.

    Tenants are going to be increasingly demanding about the quantity and quality of information that they get from the landlord so they can best match their products and services to the mall’s customers.

    In the current era, online retailers have to give people a reason to visit their store and not just to buy online.
    Increasing the volume of food outlets providing “retailtainment” is one way to get more foot traffic into malls, but restaurants cannot pay the same rents as luxury brand retailers.

    “Creating limited time opportunities through pop-up stores or events is another emerging trend giving people a reason to get up and go to a mall because they will not be able to get the product or have the experience elsewhere or at another time,” said CBRE Thailand’s head of advisory and transaction Jariya Thumtrongkitkul.

    “The revolution in retailing with the coming of e-commerce and competition from new supply means that landlords will have to be a lot more sophisticated in what they provide both in terms of mall format and data”.

    Lees ook: