Retail Continues To Grow Aggressively In Bangkok, Thailand

Many expats in Thailand opt for the studio serviced Apartment in Bangkok because there is more space than an average hotel room. A serviced apartment has a fully equipped kitchen where you can prepare your meals. In terms of entertainment, it has a cable/satellite television where you watch movies during your spare time. An en-suite bathroom is also available with the essential bathroom amenities.

In some countries, online shopping has changed consumer behaviours; however, in Thailand, retail is growing rapidly and aggressively. Millions of travellersare welcomed by Thailand every year leading to the development of new shopping malls and retail stores. Bangkok has led the way for the retail industry to prosper and grow.

When Siam Paragon opened in the later part of 2005, it sparked a wave of luxury malls in the Ploenchit-Sumhumvit corridor. In prime areas, retail market has become rather competitive with vacancies lower than 5%. However, as tenants line up for retail space, rental rates have also increased sharply.

The boom in the retail market is driven by Facebook posts of food and drinks of international and local brands. Tourism arrivals are seen as the reason for the 11.7% sales growth last year. Retail stores are also responding to the change in consumer behaviours’ by opening 24 hours daily. According to TeerawitLimthongsakul, managing director of Nexus Real Estate Advisory, there are lots of inquiries regarding 24-hour coffee shops, restaurants and co-working spaces.

Lifestyle platforms have also changed with health and wellness as the trend particularly on the youth. Fitness centres are doing well. Their popularity is apparent in residential places, shopping malls and community malls. Many well-known brands are establishing business in Thailand and they are growing pretty well. Their target is the high-end sector because the collapse of the big brand fitness centres in the last few years has left a hole in the segment.

Convenience is the key reason why many people prefer studio serviced Apartment in Bangkok apart from affordability.  It is more efficient to stay in a serviced apartment that feels like home but has the amenities and services of a 5-star hotel. Rates are typically lower than hotel rooms of the same standard.