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Published on April 4, 2008

A continued favourable sentiment towards shopping was a factor, although the country experienced an economic slowdown.

This year, the shopping mall expects to achieve 10-per-cent revenue growth to Bt1.1 billion, with net profit of Bt335 million. In the next five years, the company expects the mall's annual profit to reach Bt500 million, managing director Tatiya Sosothikul said yesterday.

More consumers - flowing from the opening of Suvarnabhumi Airport and the coming of over 100 property projects in the nearby area - will enable the mall to achieve the growth target, Tatiya said. Between 2004 and 2007, about 50,000 new families or 200,000 people moved into the area.

To attract those new shoppers, in the last few years the company has gradually upgraded Seacon Square through renovation of the whole central area and asked for cooperation from its tenants to upgrade their shop decoration, as well as introducing more shops with premium products.

This year, the firm has allocated Bt300 million for renovation and added 8,000 square metres to its education zone, which resulted in the zone growing to 25,000 square metres. A major new tenant in the zone is the English-language Wall Street Institute from the United States.

Seacon Development has allocated Bt50 million as a marketing budget. It has also adjusted its event-arrangement plan to conduct only events that have a big impact and strengthen the mall's image.

Most of its shoppers visit twice a month, accounting for 47.6 per cent of the total, followed by those who visit four times a month at 34.4 per cent, over four times a month (8.6 per cent), once a month (8.1 per cent) and less than once a month (1.43 per cent). In terms of spending, 41.9 per cent of its customers spend from Bt501 to Bt1,000.

Nitida Asawanipont

The Nation