Locals' spending slowdown hits Gaysorn sales

High-end Bangkok shopping centre Gaysorn experienced a spending slowdown during the first 10 months of the year, mainly due to the sluggish economy, political uncertainty, currency volatility and rising oil prices.
Satima Tanabe, marketing director for Gaysorn operator GS Property Management, said yesterday people still had money but thought much more than before when making purchasing decisions.The decline in spending, however, was restricted to local shoppers. Tourists were still spending freely. Traffic within the shopping centre during low season was 17,000 visitors per day, jumping to about 21,000 a day during high season. Satima said Gaysorn did not have exact figures on how much spending had declined, because many tenants wanted to keep their sales figures confidential. As a way of boosting spending in the final two months of the year, Gaysorn plans to arrange marketing activities, including a Pure Reward shopping party from next Tuesday to January 5 and the Bangkok Supercars Concourse auto exhibition from November 30 to December 3. The Pure Award scheme allows customers spending Bt10,000 a chance to win prizes ranging from Bt2,000 to Bt100,000. Singaporean artist Justin Lee will decorate a Christmas tree and draw designs for Gaysorn both inside and outside the building. Gaysorn expects the promotions will help it achieve a 30-per-cent year-on-year increase in sales and visitors by year's end. In the long term, it will concentrate on providing special services to differentiate itself from its competitors. These will include lifestyle consultants, delivery services and mailing catalogues featuring new collections to customers. It will also offer product variety and give an opportunity for Thai designers to build their reputations. Gaysorn launched D&O Shop by the Design and Object Association last Thursday, featuring stylish home-decoration items and other accessories from 10 local brands. On December 7, it will relaunch the Fashion Society shop, featuring unique clothing and accessories from Thai designers. It will add one new brand, Munchu's, to the current seven. Nitida Asawanipont, The Nation
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