Central Festival shopping centres to undergo concept change

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Central Festival shopping centres to undergo concept change
WATCHIRANONT THONGTEP
THE NATION


Wallaya Chirathivat, CPN senior executive vice president for business development and project construction, had pictured with newly refreshed brand of "Central Festival" in conference to introduce "Central Festival EastVille yesterday.

BANGKOK: -- IN response to changes in the lifestyle of today's consumers, mainly driven by urbanisation, Central Pattana is planning to use the model of its twenty-ninth branch - Central Festival EastVille, which opens next month - to "re-concept" its Central Festival format into one that is more metropolitan by the end of next year.

"Nowadays, lifestyle centres and shopping malls have become the third place for consumers, after their homes and offices. Meanwhile, the young generation, like generation Y and generation Me, prefer do their homework |or meet either for leisure or business|in coffee shops," Nattakit Tangpoonsinthana, Central Pattana executive vice president for marketing, said yesterday.

Given this behavioural change, Wallaya Chirathivat, senior executive vice president for business development and project construction, said: "We have to create and offer new things that Bangkok residents need in order to be indulged. We have travelled to many cool places, such as the Meat Packing District in New York City, Covent Garden in London, and Omotesando in Tokyo, to find a new format fit for such demand."

All the inspiration gained from these destinations has been combined into the concept of "Bangkok Escape" for Central Festival EastVille, which|is located in the eastern part of Bangkok on an 8.2-hectare plot on Praditmanutham Road, near the Ekkamai-Ram Indra Expressway, she said.

The Bt6-billion shopping venue is set to open next month, with a series of Bt70-million marketing campaigns planned throughout the first operational year.

The new venue is designed to offer a unique experience with the mixed use of indoor space and outdoor activities, as in community malls.

To make the shopping complex attractive for young consumers, Central Pattana subsidiary B2S bookstore is working with Starbucks Coffee to create "Think Space" - a co-working space with free Wi-fi connection - she said.

Besides seeking a new shopping experience to offer the public, Wallaya said Central Pattana had also conducted a market survey in the surrounding area to ensure that the new shopping centre generated healthy visitor traffic.

More than 150 residential projects and 76 public institutes are located near the shopping complex, and surrounding residents are considered to be big spenders, she added.

"We hope to see an average of 45,000 daily visitors during weekdays, and the figure will surge to an average of 60,000 daily during weekends," said Nattakit.

The country's largest retail developer expects that after one year of operation, the new venue will be among its top 10 shopping centres in terms of revenue generation, and that it will break even within six to seven years.

Wallaya said the company was also planning to re-concept its existing five branches under the Central Festival format within the next year.

The process will involve an additional investment of up to Bt50 million, with Bt5 million to Bt10 million allocated per location. Central Pattana operates the format in Chiang Mai, Pattaya, Hat Yai, Samui and Phuket, under the concept of "holiday spirit".

Meanwhile, in preparation for year-end festive events, the company has earmarked about Bt300 million to create a series of activities such as "Countdown for 2016" and related celebrations this quarter.

Source: http://www.nationmultimedia.com/business/Central-Festival-shopping-centres-to-undergo-conce-30271275.html


-- The Nation 2015-10-21

[berybert]

When every other building is a mall will these people still expect to turn over a profit.

Having all the usual franchises in your mall doesn't make it unique, nor does having wifi and books in a coffee shop. Will the book be used as a mat for the customers to rest there cup of coffee while they take a picture of it on their phone ?

[Thian]

In Westgate they built many artificial gardens where people take off their slippers and go laying on the faux grass.

Guess BKK needs more parks to relax and maybe even do homework? Or maybe a huge airconditioned greenhouse for that?

Edited October 21, 2015 by Thian

[razer]

They understand cookie-cutter concept. Not creative concept. Cookie-cutter model very easy. Same-same is good.

Actually same-same is boring and it is same-same everywhere.

When I studied marketing a hundred years ago the retail trick was to keep people in the store by making it interesting and enjoyable. But that was a hundred years ago.

[Thian]

They understand cookie-cutter concept. Not creative concept. Cookie-cutter model very easy. Same-same is good.

Actually same-same is boring and it is same-same everywhere.

When I studied marketing a hundred years ago the retail trick was to keep people in the store by making it interesting and enjoyable. But that was a hundred years ago.

They still use that trick, last time we went into the mall Ngamwongwan it took us seriously 35 minutes from the parkinglot to the road.

Last time we went to Central Westgate it took 45 minutes and we still didn't find any parkingplace!

The mall Ngamwongwan has a big swimmingpool on the roof but i've never been in it, don't know why. It doesn't look much fun in full sun.

[fred Kubasa]

I lived, for 5 years, next door to Central Mall Pattaya and agree that many visited but...... few emerged with bags of purchased goods as prices not in line with buyers budgets.The only merchants prospering were fast food

outlets, Sizzler, the cinema,and the low priced food court. Most people,

including myself went in to enjoy the air conditioning, clean toilet

facilities and "people watching " . US malls, some, to encourage shopping

feature budget floors with needed but inexpensive items, plus closeouts/seconds/overstocked at great discounts. I think mall owners profit by

rentals/security/ deposits/key money of soon to close new shops and do it

over and over again sometimes re renting a location 2/3 times annually !

[newnative]

Most of the Pattaya shopping centers are crying out for some much needed refreshing. They all look rather tired--or dare I say shopworn? Even basic maintenance such as painting is sorely lacking. It would be great if some money was spent on an ongoing basis to keep them looking better. A competent manager, whether managing a condo or a shopping center, etc, walks his property at least weekly and notes what needs to be attended to. And, then does follow-up. But I seldom see evidence of that done here.

[SantiSuk]

Break-even within 6 or 7 years. Very Chinese - very long term!

Pay-back with 6 or 7 years would be nearer the norm in "the West".

Judging by every shopping centre I've been in other than MBK, a differential of 45,000 weekday/60,000 weekend looks way out of kilter. Normally at least double at weekends