Central Pattana’s ‘Central Village’ outlet to target ‘young affluents’

[webfact]

Central Pattana’s ‘Central Village’ outlet to target ‘young affluents’

By The Nation

 

Central Village

 

With construction of its luxury Central Village now 70 per cent completed, Central Pattana Plc (CPN) on Wednesday opened the booking for the second phase of retail space after the first phase was completed.

 

The shopping centre and property developer has held a tenant meeting to prepare for the official grand-opening launch scheduled for August 31.

 

“We are very proud that we have been able to create Central Village, Thailand’s first international luxury outlet, where Thai people can be proud of Thailand being a global shopping destination,” Wallaya Chirathivat, deputy chief executive officer of CPN, said. This will help fulfil the travel experience in Thailand as comparable to other leading countries around the world.

 

“Over 65 brands have chosen to open their exclusive outlet stores only at Central Village. We aim to attract over 10 million Thai and foreign shoppers in the first year.”

 

To prepare for the official grand opening, Central Village will launch a marketing campaign to support “brand lovers” among Thai and foreign tourists, particularly the “Young Affluent” target group, which is a new segment that luxury brands around the world are keeping an eye on.

 

This target group is likely to increase in Asia, said Wallaya. They are 25-40 years old and have enjoyed success early in their life and career, with a monthly income of over Bt50,000. They have high purchasing power and most are “smart shoppers” who tend to consider value and quality rather than luxury.

 

They are “quality seekers” and tend to have self-rewarding behaviour as well as being “status hunters”. Shopping outlets are a top choice for this target group. According to data from “The 1”, over 2 million of their members are considered “Young Affluent’”.

 

“They are a new generation of consumers that we need to focus on,” said Wallaya.

 

To ensure the new outlet meets an international standard, CPN has partnered with, The Outlet Company (TOC), consulting team and global outlet management company. TOC has developed and managed several international outlets around the world, said Wallaya.

 

For the concept design, the project has aimed to combine elegance with a unique Thai sensibility in this project. Copper hues will be used to represent “luxury, natural and prestige” along with silver-gray to represent “modernization, sophistication and innovation” for the new generation.

 

The building was architecturally designed to reflect a modern Thai style using a Thai-style gabled roof with a minimum of complex patterns to give it a more modern look. The zones are divided to reflect the feel of several different villages. The shops within the project will be called “boutique stores” to represent an easily accessed luxury, and are combined with an outdoor green space similar to other popular outlets around the world.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30370213

 

-- © Copyright The Nation 2019-05-30

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[DingDongLing]

Attached to the central festival?

[JAG]

1 hour ago, webfact said:

quality seekers” and tend to have self-rewarding behaviour as well as being “status hunters”.

THAT'S ME!

Will my 20-year-old pick up qualify for VIP parking?

 

 

Edited May 29, 2019 by JAG

[davehowden]

"They are “quality seekers” and tend to have self-rewarding behaviour as well as being “status hunters”

 

Do you get a " I shop at Central Village" sticker for your car to show you are a true status hunter.

[Peterbkk99]

A reflection of the values of Thai society. Sad.

[mikebell]

So another story about another shopping mall which fails to mention where it is.  Is this another advert for Terminal 21 that has effectively sealed off Pattaya Nua?  Or is it a story about a project near Nong Nooch which is hardly Central Pattaya by about 25 kms.

[Anythingleft?]

So another story about another shopping mall which fails to mention where it is.  Is this another advert for Terminal 21 that has effectively sealed off Pattaya Nua?  Or is it a story about a project near Nong Nooch which is hardly Central Pattaya by about 25 kms.

Bangkok according to the picture used....

Sent from my SM-N950F using Tapatalk

[bluesofa]

3 hours ago, webfact said:

Central Pattana’s ‘Central Village’ outlet to target ‘young affluents’

Oh, from the headline I thought Central had built a housing estate selling homes to gullible 'young effulents affulents'.

[cmsally]

With the state of retail at the moment , I would say this is supremely mistimed.

[petedk]

It is near Suvarnaphummi Airport

[petedk]

Bangkok has enough shopping malls. I am pretty sure that we'll see one or two of them have financial difficulties in the future.

 

On the other hand, I think it is great that they are building this outside the main city and let the traffic go outbound instead of inbound. Look at the mess that Paragon, Terminal 21, Central East Gate have made.

 

Bangkok need to expand outwards not upwards.

[bluesofa]

15 minutes ago, cmsally said:

With the state of retail at the moment , I would say this is supremely mistimed.

No problem. The retailers can just increase their prices even more, to cover what I'd guess is their exorbitant rents and lack of sales.

[thurien]

3 hours ago, Peterbkk99 said:

A reflection of the values of Thai society. Sad.

for me it is o.k. coz it predominantly reflects all the hot air around in this country in all walks of society

[Baerboxer]

5 hours ago, cmsally said:

With the state of retail at the moment , I would say this is supremely mistimed.

 

Indeed. I went to Zpell Future Park Rangsit last Thursday and remarked to Mrs. BB that there didn't seem the normal hordes of people.

 

Went again yesterday evening. For the first time ever, there were loads of empty parking spaces. Normally takes ages finding one early evening. Not now, And less people noticeably than last week. 

 

Mrs BB assured me she was and will be doing her bit to support the retail industry though!

 

 

Edited May 30, 2019 by Baerboxer

[BoBoTheClown]

6 hours ago, Peterbkk99 said:

A reflection of the values of Thai society. Sad.

The west taught them well.

 

 

 

[CGW]

5 hours ago, bluesofa said:

No problem. The retailers can just increase their prices even more, to cover what I'd guess is their exorbitant rents and lack of sales.

You must be an "insider" you understand the business model! In the meantimes the land owner/property developer continues to make money that would be doing nothing in the bank - & the social divide continues to grow................... ????

[cmsally]

Basically this project is Central Group creating a project with the expectation of renting out to the international brand names. In Thailand you don't have the demographic to support another one of those. They must be aiming at Chinese and with the slow down of the Chinese economy and numerous other destinations to do luxury shopping, I don't see this working.

[mmushr00m]

Lol status seeker. Say you bought it at an outlet and see how much status you get.

Those with real status know, you only get lower quality products at outlets.

[DrTuner]

>50k / month = affluent. Alrighty then.

[dcnx]

The outlet store in Hang Dong is still more expensive than the actual outlet stores in the USA. Sometimes 50% more. Some stores are the same price as the normal mall stores here, but some are a little cheaper. Saved 50b on a pair of Nike flip flops.

 

Thais don’t understand the concept of why outlet stores were created. 

[dcnx]

2 hours ago, mmushr00m said:

you only get lower quality products at outlets.

You can also get quality items that are now out of date and replaced with a new model.

[yokat]

On 5/30/2019 at 3:34 AM, webfact said:

Thailand’s first international luxury outlet

I don't know by what measurement it's the first one. I feel like every additional one is just diluting the possible earnings and in the end most of them will face financial trouble when the sales goes down and "international luxury brands" decide to focus on the best earners.

 

Actually many malls are already dying down, as soon as it start ageing stores start moving out making it even less desirable for other tenants. Sure it's not aimed at luxury outlets but take a look at Palladium, Platinum, Gateway Ekkamai : empty floors, tons of closed stores, filled with crappy gadgets, massages and beauty clinics.

[rgrdns]

Location south of airport (see red pin) only 17km away from Mega Bagna

[zhounan]

A reading tip: "The Society of the Spectacle"  Guy Debord

[DrTuner]

2 hours ago, rgrdns said:

Location south of airport (see red pin) only 17km away from Mega Bagna

What an excellent place to herd the Chinese to and then right back to departing flight after the fleecing. Go Central! I'm 19000% all for this one.

Edited May 31, 2019 by DrTuner

[Wilsonandson]

The local market. Attracting the poor old people.

[Fex Bluse]

On 5/30/2019 at 1:42 PM, cmsally said:

Basically this project is Central Group creating a project with the expectation of renting out to the international brand names. In Thailand you don't have the demographic to support another one of those. They must be aiming at Chinese and with the slow down of the Chinese economy and numerous other destinations to do luxury shopping, I don't see this working.

Exactly. Central Embassy and Gaysorn are good examples. 

 

Not sure if they are subsidized in any way, but everytime I'm in either place (relatively frequently, maybe 1-2 times every 2 weeks), they are mostly empty save for a few old Sino Thai ladies with massive beehive hairdos. 

 

Stores always empty. 

 

Thailand's affluent class is tiny as is what we might consider a middle class. And, neither class is growing because the country is not really growing in any meaningful way. 

 

And, the kids with money, mostly Thai Chinese, maintain a poverty mentality and try to avoid spending a single satang wherever possible. They'd rather goto Hong Kong or Japan to shop for 'affluent' stuff 

[Fex Bluse]

This place will end up being nothing more than another place for Thais and Chinese to:

 

1. Eat slightly overpriced rice and poor quality stir-fried meat dishes 

 

2. Aimlessly dawdle around in the cool air con with noses up the air

 

Farangs will mostly not be impressed by the usually poor quality Thai polyester clothing and other assorted cheap trinkets 

Edited May 31, 2019 by Fex Bluse