CPN allots B700m for segmented marketing rejig

SET-listed developer Central Pattana Plc plans to invest 700 million baht in marketing to promote shopping at its stores this year.

Nattakit Tangpoonsinthana, vice-president for marketing, said 20% of the budget (140 million baht) will be allocated to digital marketing activities, double the amount spent last year on digital channels. The company hopes this higher spending will increase store visits.

Central Pattana is also conducting a feasibility study on the development of its new shopping complexes, which will allow it to tailor its products to specific segments of the population.

"Moving forward, the shopping centre business will be divided based on lifestyle more than demographics," he said.

The company's existing shopping centres will be renovated in the next 2-3 years to reflect this segmentation development approach. New malls will also be built with this principle in mind.

"We want our shopping complexes to be community destinations," said Mr Nattakit.

Central expects traffic at CentralPlaza Rama 3 to increase by 20% after renovating the mall based on this approach. The company also plans to redesign Central Complex in Chon Buri this year.

"CentralWorld's 2-billion-baht segmentation redesign will be unveiled August or September," he said.

From now on, Central shopping complexes that target teenagers will provide more hangout places or tutoring facilities. Malls geared towards the employed will include more fashion products, restaurants and entertainment sites.

The company also wants to focus more on the elderly by providing facilities, products and services targeted at this demographic at every Central Shopping Complex because of the rapid increase in this segment and its high spending power.