Recently, people living in their Single House in Ratchaphruek received good news as the Mall Group recently opened the first Power Mall store at the nearby The Crystal SB Ratchapruek community mall. It seems that that’s only the beginning, as, now, the Mall Group is setting to open more specialty stores in different locations, as part of their new strategy to increase sales and profit for the group in the long run.
The recent opening of the Power Mall, an appliance store, at The Crystal SB is a single step in the Mall Group’s strategy. The store covers a total of 1,200m2 and is open 24 hours a day. The Bt50M investment is set to be followed by external moves, a rarity for the Mall Group, which made its first external move with the opening of the Gourmet Market in 2011.
To the convenience of everyone living in a Single House in Ratchaphruek, the first Gourmet Market was followed by three more, totalling to four Gourmet Market branches across Bangkok, located in the following areas:
- Terminal 21, Asok intersection;
- The Promenade, Ram Intra Rd.;
- The Crystal SB Ratchapruek, Patchaphruek Rd., and;
- LatPhrao Station.
According to JakkritKeeratichokchaikun, Power Mall’s Senior VP and Chief Merchandising Officer, Power Mall will followed by the opening by Be Trend and Sports Mall, which The Mall Group is looking to open outside of their own complexes.
Mr. Jakkrit also pointed out the high expectations looming over the SB Design Square Power Mall, as the company expects at least Bt300M worth of sales from the first operational year. The company also expects a 2% sales growth by the end of 2017, and an approximate growth of 7% in 2018, at least on the electrical appliance subset. Jakkrit says that they hope to be ahead of the rest of the industry, which expects a growth of 5%.
He adds that, with the customers having notably more to spend, especially since November of 2017, the company is expecting growth across the board.
Executive VP TanyaruckChawaldit of the SB Furniture Group says that the partnership between them and Power Mall will allow the SB Design Square to become a one-stop shopping destination for those living in a Single House in Ratchaphruek, with shops handling furniture, home decor, groceries, among others.