SIAM Piwat yesterday officially opened Ecotopia, a retail space devoted to environmentally friendly and healthy products, in a move aimed at reinforcing its position as a retail operator in tune with lifestyle trends.
On the fourth floor of Siam Discovery Center in central Bangkok, the Ecotopia zone is claimed by the company to be largest space catering to this market niche, with more than 1,000 square metres accommodating more than 5,000 items in the health and eco-friendly segment, from some 100 brands.
The company says Ecotopia is Asia's leading eco-lifestyle and well-being destination, aimed at serving lifestyle customers who are concerned about their health and the environment. Products are offered in five categories: eco food, eco fashion, eco beauty, eco home and decor and eco gadgets and stationery.
“Siam Piwat has a strong commitment to this project with our core strategy of being ‘the icon of innovative lifestyles’. We aim to revolutionis the industry by introducing innovative concepts that never existed before in Thailand or in the global market,” said Usara Yongpiyakul, chief executive officer of Siam Piwat Retail Holding Co Ltd.
“In our vision, we always aim to bring to Thailand a phenomenal rollout of many famous brands, including everyday products, trend products, innovative products and services, sustainable products and collaborative products. We also open for new business opportunities to work with other partners and suppliers. It's possible that we may expand the business to launch this retail concept in other places.
“We also understand that the life cycle of retail business has been shortened considerably: some product categories/ brands achieve huge popularity for only a limited period of time due to consumers' continuous search for newness as well as the rise of e-commerce and online shopping. Siam Piwat puts each and every detail into consideration for each and every project,” she said, adding that all the projects that have been developed during the past three years “in line with four key strategic rules to ensure long-term success, which are: to innovate and stay ahead of others; be customer-centric; create shared values; and build partnerships”.
Usara said that the launch of Ecotopia is in line with a global trend that has seen shoppers become more concerned about their health and well-being.
“With the evolving global trend, people tend to be more concerned about their well-being and the environment, and they are changing their behaviour by selecting healthier products and keeping their environmental impact to a minimum,” she said.
“We focus on value creation and success through partnerships and enterprises, which are the heart of sustainable growth, to make our project truly a prototype for the retail business in the future.”
Ecotopia had a soft launch in October. It has received a good response from both Thai and foreign customers, with locals accounting for 40 per cent of business. The launch of Ecotopia comes as one of the key marketing strategies of Siam Discovery in 2018 to attract both Thai and foreign shoppers “to experience Asia's first full lifestyle destination”.
The company said it expected that in 2018 more and more people will visit Ecotopia, with Bt100 million in sales targeted.
The company plans to provide offline and online marketing campaigns throughout the year . The merchandising team will continue to choose new products.
“This is to ensure that Ecotopia will be a popular destination for customers concerned about their health and the environment and this will reinforce Siam Discovery’s as a must-visit shopping destination for both Thai and foreign travellers.”