B2S Co, the book and stationery chain under Central Group, is forming strategic alliances with local and international partners to transform its stores into lifestyle hubs in response to consumers' changing preferences.
Somchai Tawonrungroaj, the company's managing director, said B2S is in talks with 20-30 global partners and local publishers to be neutral parties distributing both books and e-books, as well as developing products with leading Asian and European brands for sale exclusively at B2S.
The company will provide new products and services, and introduce new B2S concept stores that bring a fresh shopping experience to customers.
B2S at CentralPlaza's Bangna and Pinklao branches will be renovated under the concept of co-lifestyle space, integrating the stores with coffee shops and leading Thai restaurants in the same area.
"Consumer behaviour has changed, and we will therefore no longer be just a book, music and stationery store with art supplies and entertainment products sold in a functional manner, but we will transform ourselves into a lifestyle hub for customers," Mr Somchai said.
Apart from joining hands with new partners, the company will continue to acquire interesting content from around the world to develop its e-learning platform, to meet young people's lifestyle in the digital world.
The company is preparing to spend 1-1.5 billion baht to expand its business during 2018-22. Each year, the company allocates 200-300 million baht to open 6-8 new B2S stores, renovate existing stores and launch marketing campaigns to promote the business.
Such plans aim to boost sales of B2S stores to grow at double-digit yearly rates until 2020.
Mr Somchai said the company plans to invest 300 million baht in business expansion this year, with 50-100 million baht allotted for IT upgrades and marketing, and the remainder for opening 11 new stores and renovating its eight existing stores.
The company expects the number of total B2S stores to reach 177 branches by 2020, up from last year's 105. Sales are expected to double by 2020.
Mr Somchai declined to disclose raw sales figures. Stationery contributes 40% to B2S's sales, with books accounting for 25% and other items the remainder.
"There is still room to grow in the book business," Mr Somchai said. "Literature and examination books continue growing every year, along with self-development ones as young people in particular love to build their own businesses or become an entrepreneur."
Sales of travel books, however, are expected to continue to decline as customers seek more information on social media.
Mr Somchai said consumer spending power has gradually improved, particularly upcountry.
"The government should focus not only on boosting export growth, but also stimulating local consumption and private investment," he said. "More importantly, the government should promote long-distance education to increase learning opportunities for students in remote areas."
