‘3S’ growth strategy is implemented to accelerate growth while around 30% growth target is set for this year
Central Pattana Public Company Limited (CPN) is highlighting its continued success by raising the total number of its shopping centres to 20 by the end of this year, underlining its leadership in Thailand’s retail development industry. CPN is preparing to open its 19th shopping mall, CentralPlaza Suratthani, in October and its 20th shopping mall, CentralPlaza Lampang, in November. The ‘3S’ plan has been implemented to accelerate the company’s growth while the annual growth target is set at around 30% this year.
Ms. Wallaya Chirathivat, Senior Executive Vice President - Business Development and Construction Management of CPN, said: “CPN has implemented the ‘3S’ plan by making STRATEGIC MOVE to quickly grab business opportunities by SECURING PRIME LOCATIONS in order to acquire a decided advantage over the competition, and by developing SYNERGY with partner stores in order to ensure the accelerated growth of its business. This is a long-term strategy for the company, all of CPN’s existing retail projects are located in major cities across the country, which has strengthened the CPN brand and will raise CPN’s competitiveness in developing businesses that can attain sustainable growth.”
CPN expects the local economy and consumption in Thailand to improve significantly as there are indications that things are turning around thanks to the various beneficial factors that are contributing to business growth, including the actual economic growth figures and the government’s economic stimulus measures. CPN plans to continuously expand its business by opening three to four new shopping centres every year, with the company’s annual investment capital valued at no less than 10 billion baht for every year. This is part of the company’s plans to accelerate the growth of its business, reinforce the strength of its enterprise and prepare for the upcoming ASEAN Economic Community in 2015.
Ms. Wallaya said: “By the end of this year, CPN will have a total of 20 shopping centres as the company will open CentralPlaza Suratthani on 11 October and CentralPlaza Lampang on 30 November. CentralPlaza Suratthani is a retail project aimed at complementing the South as Suratthani is a major province in the region and has great economic potential. The province also has several world-class tourist destinations, attracting millions of domestic and international tourists annually. Meanwhile, Lampang plays a vital role in the North’s economic development and thrives in many sectors, including trade, agricultural and industrial. The presence of CentralPlaza Lampang will help further highlight CPN’s leadership in the transnational Northern Economic Corridor as CPN has shopping centres in all strategic provinces in the North, which are Chiangmai, Chiangrai and Lampang.”
CPN’s shopping centres aim at attracting customers who are: jobbers, families and young people with urban lifestyles because the consumer behaviours of people living in other regions are now very similar to consumer behaviours of those living in the capital city. CPN’s shopping centres in these provinces will respond well to the lifestyle needs of such consumers. CPN will focus on developing syngergies with partners like anchor stores and shops in order to offer new things to local consumers continuously, including new trends and popular brands. Local people will be able to shop, enjoy great food and have a great time just like customers in Bangkok do. In addition, by investing in multiple provinces, CPN is a major contributor to local economic growth and the creation of local employments as each new shopping mall will employ over 1,000 people. Furthermore, CPN is hoping for its shopping centres to become places where local people can come to open their businesses as well as to help add value to local products, improve labour skills and reinforce the potential of local trade and capacities of local businesses.
Dr. Nattakit Tangpoonsinthana, Executive Vice President of Marketing for CPN, said: “In order for CPN’s marketing strategies to be successful in regional markets, the company must study the local market and undertake customized marketing campaigns tailored specifically for each region’s consumers. These efforts will help CPN efficiently reach out to its customer targets. The company has always tried to implement new and innovative marketing plans, moving toward a 360-degree holistic approach for consumer communications that seeks to be more inclusive. CPN is also continuing its efforts to expand its digital marketing platform in accordance with the ever-changing marketing environment in order to add value to its marketing campaigns. Also, we are trying to develop synergies with our partners by joining forces to launch promotions and offer special privileges.”
As CPN’s shopping centres all aim to please their customers by responding to their lifestyle needs, the company’s marketing efforts have been focused on offering the best experience to consumers with ever-changing needs and expectations. We have positioned our shopping centres to be ‘happiness hubs’ that always bring joy and happiness to customers. As part of the grand openings of the two new retail developments, CPN will organize several intriguing events and activities while highlighting the value of local traditions and preferences, including art and culture, fashion and celebrations. CPN will use celebrities to attract people and will publicize its shopping centres through new types of media within the shopping centre such as interactive media like the 3D photo corners, which should attract people’s attention and make them want to take pictures. CPN will also take on the important role of being a promoter that helps promote the provinces as the regions’ activity centres, offering excellent experiences to customers and supporting the local communities.
For more information, please contact CPN Public Relations Department:
Tel. 0-2667-5555 Preeti Prapandvidya ext 4306, Sirirat Wacharuglert ext 4101
Fax. 02 264-5575 Email: [email protected] Website: www.cpn.co.th/presscenter