Fourth Tops Market opens
Central Food Retail opened its fourth Tops Market branch yesterday, targeting premium customers as the company sees no slow-down in consumer spending despite political uncertainty and a slowing economy.
The official launch of the brand was held at one of the three already-opened branches, at the Esplanade in Bangkok. Central Food Retail president Ian Pye declined, however, to reveal figures of the investment budget. The company's four supermarket formats, comprising 96 branches, cover mass-market consumers (Tops Daily and Tops Supermarket) and high-end shoppers (Central Food Hall and Tops Market). The difference between Central Food Hall and Tops Market is in the size of the two formats, with the latter smaller at 2,000 square metrers. Tops Market imports products from all over the world while also emphasising fresh Thai vegetables and fresh food, said Central Food Retail vice president for marketing and public relations Phattaraporn Phenpraphat. Currently, younger customers are buying more beauty products. This year, the company expects to add 17 Tops Market branches, of which 14 will be renovated properties. Phattaraporn said the company's business was still running smoothly amid the political crisis and slow-down, because Tops offers products that people need for daily living. Spending per bill last year, as a whole, increased 15 per cent from 2005. Meanwhile, Tops Market at the Esplanade has seen average traffic per day of 2,500 customers and average spending per head of Bt320. Nitida Asawanipont The Nation
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