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Siam Piwat’s malls at the center of Bangkok’s shopping district were closed off at the height of civil unrest that ultimately led to Thailand’s 2014 military coup. “There were mobs in front of our shopping centers..we closed for three months – I survived,” she said in an interview with Reuters. “We announced [Iconsiam] three weeks after the coup.” personalised cufflinks for groom from bride uk sale. New retail projects are being planned even as Thailand prepares for elections that senior government officials have said would likely be on Feb. 24..
The elections will pit supporters of the military and royalist establishment against populist political forces led by the Puea Thai Party that was ousted by the military in a 2014 coup. Thailand’s political turmoil discouraged tourism growth, which also slowed after a boat accident killed dozens of Chinese tourists in July, but these concerns have not deterred developers. Siam Piwat’s Chadatip says she believes there are good opportunities in Thailand and tourism will recover personalised cufflinks for groom from bride uk sale. (Thailand tourist arrivals by month: tmsnrt.rs/2PgR9wd)..
Even e-commerce in Thailand is turning to malls. JD.com-backed (JD.O) fashion retailer Pomelo saw an untapped customer segment after experimenting with pop-up stores, said CEO David Jou personalised cufflinks for groom from bride uk sale. “We found that some customers didn’t feel comfortable making their first purchase online, but liked our products.”. The Bangkok-based startup, which has its fifth store in Iconsiam, where e-commerce is growing, says physical stores familiarize customers with products before they place digital orders..
Shops create brand recognition and double as a pick-up point for online orders, simplifying logistics, he said personalised cufflinks for groom from bride uk sale. But with mammoth retail developments going up and Thai household debt at 77.6 percent of GDP, some are questioning the sustainability of recreational shopping. “People like going to malls..but are they purchasing goods?” asks Adithep Vanabriksha, Chief Investment Officer at Aberdeen Asset Management (Thailand). Bangkok currently has 7.5 million sqm of retail space with another million in planned, nearly double what similar cities have lined up..
This breakneck expansion risks creating a supply glut such as seen in Kuala Lumpur and when foot traffic through malls doesn’t lead to sales, Thai retailers and developers are already working together to boost spending. Pomelo is looking into partnerships with stores to tap into customer loyalty programs. There must be data-sharing on footfall and spending between landlords and tenants, which will require big investments in data analytics, says James Pitchon, Executive Director of real estate consulting firm CBRE in Bangkok, noting that “retail’s not dead, but it’s very complicated” personalised cufflinks for groom from bride uk sale.