October 23, 2013 00:00 By Kwanchai Rungfapaisarn The Na
Targets Bt25-billion annual sales via Bt20-billion expansion
Power Buy will invest Bt15 billion to Bt20 billion to expand from 77 home-furnishing stores now to about 100 by 2015.
“We have opened five Power Buys in the first nine months of this year, and six will be added just in the fourth quarter – two in Chiang Mai and one each in Saraburi, Khon Kaen, Hat Yai and Surin,” Sa-angthip Amornchat, vice president for marketing, said yesterday.
Eight of the 77 existing stores are free-standing, she said.
The company also targets boosting sales from Bt21 billion this year to about Bt25 billion by 2015.
The Central Chidlom and CentralWorld outlets are under renovation and will reopen in December and January.
About eight to 10 outlets will be launched in each of the next two years. Standalone stores will be increased from currently eight to 15 by 2015 at a cost of about Bt1 billion each. Outlets in shopping malls will need Bt50 million to Bt60 million each.
“For this year, we want to achieve sales growth of 12-15 per cent to Bt21 billion,” she said.
Sales in the first nine months were 8 per cent over the same period last year. Sales growth at existing stores was less than 5 per cent.
“We have seen sales slowing down in many product categories, particularly visual products, as consumers are waiting for a clear public policy about digital TV sets, as well as washing machines, which have been affected by the rainy season and the floods in some areas,” she said.
However, some products are selling well.
Air-conditioners increased by 26 per cent in the first three quarters, while mobile phones and computer tablets surged by 40 per cent and 20 per cent.
Power Buy expects its sales to rise 20-30 per cent this quarter on fast store expansion and proactive year-end campaigns, including “Power Buy Expo Chiang Mai” from December 5-15 and “Power Buy Grand Sale” at Sky Hall of CentralPlaza Lat Phrao from November 29 to December 8.