Siam Piwat Co Ltd. has revealed new business strategies for the festive season and next year.
The owner and operator of Siam Paragon, Siam Center, and Siam Discovery aims to incorporate its “novel experiences that meet the customers’ needs” throughout its operations.
“We have invested in new businesses, especially in the retail sector, and introduced new ideas to enhance the performance of the retailers and our business allies, so that we can always offer fresh and exciting experiences,” said Mayuree Chaipromprasith, Siam Piwat’s senior executive vice president.
“We understand that the life cycle of the retail business has been shortened considerably: some product categories/brands achieve huge popularity for only a limited period of time. Consumers continuously search for newness and the rise of e-commerce and online shopping exacerbate the situation.”
Siam Piwat takes all dimensions and details into consideration in developing every project, she added.
All the projects that have been developed over the past three years follow four key strategic rules to ensure long-term success:
To innovate and stay ahead of others.
Being customer-centric.
The Creation of Shared Values.
Building Partnerships.
“Creating innovations and offering different, exhilarating experiences is always the goal. Each project has its own unique modern lifestyle concept that puts it in a class of its own. In each case, they are the first of their kind in Thailand, or even the world.
“Technology has brought dramatic change in consumer behaviour, most notably higher competition as a result of fast connectivity and accessibility. Long-term consumer behaviour has become much more difficult to predict.”
In response, Siam Piwat is prepared for rapid change thanks to cultivating a deep understanding of consumer behavior and needs.
“Now our goal is to not only create brand value for our own lines of business but for our tenants and partners. It means revolutionizing our marketing plan but we are prepared to do that.”
Transforming “shared values” into “commercial values” is taken as key to successful brand management, “hence the utmost importance of nurturing bonds and loyalty among customers by being totally relevant to their fast-changing everyday lives.”
Meanwhile, Siam Piwat is splashing 400 million baht on its year-end “Siam The Great Celebration” campaign which continues till Januray 15, 2018.
Besides offering exclusive products and services combined with terrific bargains, the campaign features world-class events never before held in Thailand.
