Siam Piwat joins forces with leading retail partners organise the 1st Global Privilege Partnership Annual Meeting

Real Estate Press Releases Thursday August 24, 2017 11:04
Bangkok--24 Aug--Siam+Piwat

Siam Piwat joins forces with leading retail partners organise the 1st Global Privilege Partnership Annual Meeting" gathering executives in retail business in Asia to brainstorm for developing the retail business growth and target to promote more membership customers base worldwide

  • "The 1st Global Privilege Partnership Annual Meeting" brainstorming retail alliances to drive retail business growth, increase bargaining power, and develop a collaborative marketing strategies
  • Set goal to increase number of membership customers by 50 percent by 2020.

Siam Piwat Co., Ltd.—owner and operator of the world-famous projects including Siam Paragon, Siam Center, Siam Discovery, Paradise Park and a co-owner of Thailand's mega iconic property development "ICONSIAM" underlines its core strategy, being the Icon of Innovative Lifestyle among Thailand's retail enterprises organised "the 1st Global Privilege Partnership Annual Meeting" gathering executives of leading retail enterprises in Asia from Hong Kong Times Square Shopping Center, ION Orchard Shopping Center in Singapore, Taipei 101 Shopping Mall in Taiwan, and Parco Department Store in Japan for a meeting to exchange knowledge about retail business and consumer behavior, as well as formulate a joint strategy to drive the retail business to grow steadily.

Mrs. Mayuree Chaipromprasith, Senior Executive Vice President, Siam Piwat Co., Ltd, said after the meeting that amidst the growth of tourism business and the perpetual change of consumer behavior, we, as a leading retail enterprises are unable to stop development and wait for consumers to visit, but we have to continue to develop our services and products. In addition, nowadays, as a result of the boundless world, people can travel easily from country to country; the collaboration with international business partners to learn about consumer behavior and collaborate on regional retail promotion is one of important strategies for the company to drive the growth of the business. Consequence, Siam Piwat hosted "The 1st Global Privilege Partnership Annual Meeting" in Thailand to join forces with retail partners in a bid to share useful information on retail business development and create a common strategy to promote this business to sustainable growth.

This campaign was initiated by Siam Piwat who set the first phenomenon in Thai retail industry in 2014. It joins forces with leading partners in retail businesses of each popular tourist country, offering unrivaled shopping experiences in the world through a Global Privilege Partnership campaign which has gained in popularity among the member groups. At present, the membership base from the partners totals over 20 million worldwide, giving premium privileges to members of Platinum M Card and VIZ Card as well as holders of the cards issued by other partners.

After the meeting, retail partners from five countries agree that: There will be deep and wide-ranging cooperation under the Global Privilege Partnership, such as the ongoing annual partnership meetings to exchange information and experience in retailing, to attract customers from each country to visit partner shopping centre, and to enhance member benefits and to increase the number of members, as well as increase the frequency of visitors to shopping centers and attract new customers. Moreover, retail partners have also agreed to apply the use of new technology and innovation in order to meet lifestyle and needs of modern customers, and will establish pop-up store or pavilion of partner countries to introduce products in between such as to build a pop-up store of Thai designers at partner stores. Partner countries have also agreed to do cooperate activities, such as world-class art exhibitions or special occasion activities in shopping center of each country. Member countries have agreed that such cooperation will increase the bargaining power of, while can also help promote tourism growth.

"This firm collaboration will lead to a revolution of the retail industry in the world market as we do not see each retailer as competitors, but we are a cross-border business partner. We believe that the development of retail strategy will help Siam Piwat and partners expand our customer base by 50 percent by 2020. This will lead to sustainable growth for our partners as well," Mayuree said.

Ms.Chen Shinh-Ming, President of Taipei 101 Shopping Mall from Taiwan, said that the meeting helped create better concrete cooperation in order to drive the retail business to grow strongly in line with the growth of global tourism. Retail business in Taiwan grew at a healthy pace in current. The key drivers of overall growth have been increased activities by retailers and credit card and even mobile pay issuers such as Line Pay, Apple Pay, Ali Pay, and etc, as well as rewards offered by banks or financial institutions, has contributed to overall spending in Taiwan.

Under this cooperation, we would like to do more collaborative events or co-promotion with our partners. For instance, to exchange VIP customers, organize Thailand Pavilion to attract customers to visit partner's shopping mall. So far, Thai tourists have grown strongly in Taiwan and we believe that Thai tourists will soon become one of the most important parts of Taiwan tourists business.

Mr.Yoshinori Shimizu, General Manager and Overseas Business Department of Parco Shopping Center in Japan, said that due to rapid evolution of technologies, diversifying lifestyles, and changes inbound demand, the retail business in both Japan and globally has been facing great changes. Retail industry need to accommodate these changes and leverage them to create business opportunities. The collaboration among retail alliance will be one of key strategies to help promote retail business growth. After this first retail partner conference, we believe that Parco and other partners will be able to expand our member base, and increase the frequency of customers to our malls. In addition, closer collaboration should lead to deep mutual benefit understanding and tangible cooperation such as sharing the customer base, and encourage customers to visit shopping center of our partners when traveling abroad. We also hope that Thai customers will visit Parco more when traveling to Japan.

Moreover In the future, Global Privilege partners will have a pop-up store of Japanese designers, or other interesting art exhibitions at shopping centers such as at Siam Piwat's Shopping Center. On the other hand, Parco Japan may organise a promotion of Thai products presented by Siam Piwat Group to promote the business and goods of each country.

Mr. Chris Chong, CEO of Orchard Turn Development Pte, an owner of ION Orchard Shopping Mall in Singapore, said that presently, shopping center does not compete only in domestic, but with competitors worldwide. However, creatively collaborating as the Global Privilege Partnership platform among retail operators from each country will help promote stronger retail business growth. The collaboration among retail partners to launch promotions or offer incentives to attract visitors is another important strategy that should not be overlooked. If each store offers a common benefit or provides special privilege for serving customers' demand, it will help drive the growth of business and helps maintain customer's base together.

Mr.Vernont Ma, Manager-Promotions and Centre Operations of Time Squares Limited, Hong Kong, said that Hong Kong Time Squares are prompted to cooperate with partners from abroad to exchange information and experience in retail business to impress the customers. The global privilege partnership collaboration will increase bargaining power and encourage each other to learn to use technology to respond to customers effectively. Hong Kong Times Square has partnered with leading retailers around the world, including Siam Piwat so that we can build more loyalty because this group of customers is one of major important groups that help promote sustainable growth for the retail business.

At present, the company has membership cards to give privileges to holders of the two member cards including Platinum M Card and VIZ Card when shopping at Siam Paragon, Siam Center and Siam Discovery. And to expand the membership base by targeting shoppers who enjoy travel, the company introduces the "Global Privilege Partnership" campaign, which provides the ultimate shopping experiences and unrivaled privileges for Thai and foreign shoppers. In other words, it is a kind of Customer Relationship Management (CRM) activity without frontiers worldwide for the card holders to receive the optimum privileges. It is also global collaboration to develop and build a mechanism for boosting more spending from foreign customers into Thailand, being able to attract shoppers who hold any of the cards issued by the retail partners from other countries to spend at Siam Piwat's shopping centers and our partners.

Exclusive, unrivaled privileges are available to members of Platinum M Card and VIZ Card, the two cards in Thailand whose holders will be treated so well when traveling to these popular tourist countries as well. Together with holders of the cards issued by the retail partners participating in the campaign. All the holders will enjoy discounts from 5 to 50% from more than 2,000 shops in the world's popular tourist countries, with special services to allow the best convenience such as a personal assistant service to recommend a wide range of services in the shopping centers, exclusive welcome gifts, and an exclusive lounge etc.

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