Brick And Mortar Stores Thrive In Thailand

Many Bangkok visitors will surely love the hotel near Nana BTS because there is wide array of entertainment spots, bars and clubs nearby. Prominent shopping malls are nearby for the avid shoppers. For medical tourists, there is a world-class medical facility 8 minutes ride away. In short, the hotel is accessible to all the interesting tourist destinations.

In other countries, retail stores are struggling because of ecommerce but in Thailand, retail is growing rapidly. According to the results of CBRE Research, there is more than 7.6 million square meters of modern retail space in Bangkok with more than 1.2 million square meters under construction or under the planning stage. This includes IconSiam and One Bangkok projects. It is expected that there will be more than 300,000 square meters of new retail spaces this year which is 3 times more than in 2017.

Ecommerce has certainly transformed the global retail property market. Physical stores have to evolve to keep pace with online retailers. People prefer to shop online because of convenience and efficiency. Amazon and Alibaba are rapidly expanding to achieve formidable sales figures. In Thailand, the ecommerce market is expected to reach more than 3 million baht this year which is only about 1% of total retail sales.

Many retail brands are trying to penetrate the ecommerce market while others are trying to embrace the offline strategy by expanding their retail stores. Alibaba has a physical supermarket in China while Amazon has purchased up-market Wholefoods grocery store chain the United States. In Bangkok, Pomelo Fashion, an online fashion shop has opened several physical stores to boost brand awareness and to attract more customers.

This proves that physical retail stores are not dead. When integrated with digital shopping it can create a seamless shopping experience. For retail properties to survive, they have to embrace in-line technology to create lasting engagements with customers.

Many business travellers go to Bangkok and their option is to stay at a hotel near Nana BTS which is just 30 minutes away from Don  Muang Airport and 45 minutes away from Suvarnabhumi International Airport. After a meeting, the business traveller can unwind at one of the entertainment spots nearby.