CRC Thai Watsadu rebrands HomeWorks to baan BEYOND Targeting group sales of 50 billion baht over the next five years

Real Estate Press Releases Wednesday August 29, 2018 14:34
Bangkok--29 Aug--CRC Thai Watsadu

CRC Thai Watsadu Ltd., a business unit of Central Retail Corporation, announces its rebranding from HomeWorks to baan & BEYOND, bringing a new concept in the modern home department store to meet consumers' lifestyle in the 4.0 era. CRC Thai Watsadu is moving forward with the new branding on the heels of the success of the 3 pilot stores in Chiang Mai, Khon Kaen and Pattaya, which have enjoyed sales growth of 20 percent. The company plans to have 20 baan & BEYOND stores with CRC total revenue target of 50 billion baht within the next five years. The company is gearing up for this expansion to cope with the growing trade in construction materials and home decoration. This year, the construction materials and home decoration market is expected to grow by 3.6 percent over last year with a market value of about 200 billion baht. baan & BEYOND is the home improvement store, providing a broad range of construction materials, home finishing, home repair and maintenance products. It offers home lovers new shopping experiences that go beyond expectation, meeting all customers' needs with a good variety of products and good value for money. In addition, the baan & BEYOND stores provide a solution for home problems allowing customers to get home improvement and repair assistance via the vFIX application or by calling Contact Center 1308. Also, based on OMNI Channel, customers can enjoy online shopping around the clock.

Mr. Suthisarn Chirathivat, Chief Executive Officer of CRC Thai Watsadu Ltd., hardware, home decoration and electronic appliances of Central Group, the operator of "baan & BEYOND" retail business, reveals that with the success of the three pilot stores in Chiang Mai, Khon Kaen and Pattaya and the sales growth of 20 percent, the company is confident about rebranding another three HomeWorks stores in Ratchaphruek, Rattanathibet and Phuket to baan & BEYOND by the end of this year. The six stores will ultimately cover major cities in all regions of the country. Over the next five years, the company has set a target to have a total of 20 baan & BEYOND stores with 50-billion-baht target revenue of CRC.

"The rebranding is in line with the growing market value of the modern trade sector in construction materials and finishing products. It is a good opportunity for the company to introduce products and services in response to market demand. In 2018, the overall market is estimated to grow 3.6 percent with around 200-billion-baht market value. The market has been spurred by various factors including the country's economic recovery and the forecast 4.8 percent GDP growth this year. The economy is largely stimulated by public sector investment especially mega infrastructure projects. Rapid urban expansion is another factor affecting rising household income and the growing number of housing units built over the past decade. The target home owners have changed to younger and smaller families, especially in Bangkok, business cities, tourist destinations and industrial cities in the Eastern Economic Corridor (EEC). Meanwhile, consumer behavior is also changing, with consumers demanding a greater variety of choice in home finishing products. Furthermore, Thailand is entering into an aging society and these seniors have purchasing power with more need for convenience. With the rapid changes in technologies, consumers expect faster delivery of products, services and information with a quick response time of 24 hours. Social media definitely are a key tool in their purchasing decisions".

Mr. Suthisarn explains that the baan & BEYOND is a new model of the home improvement store with an aim to become the ultimate shopping center for home finishing products and repair. Based on the BEYOND EXPECTATION concept, the store boasts four strengths: a full range of products with style and functions; value for money and affordable prices; integrated solutions for home improvement/repair and services; and a shopping area of more than 10,000 sq.m. in each store having more than 20,000 quality merchandise items. The merchandise is arranged in a continuous and related layout, offering customers easier decision making.

He points out that one of the pain points for customers is minor repair. Therefore; baan & BEYOND has created the vFIX service to make home repairs, install, change or relocate positions, all of it handled by professionals who have passed the Department of Skill Development's Labour Skill Standard Test. The vFIX service offers customers a repair service at affordable prices with a service guarantee of up to 180 days. Customers can access vFIX service via Contact Center 1308 from August 31, 2018 and via vFIX Application in October 2018. In addition, the company will launch online shopping via in September 2018 allowing customers a seamless shopping experience on the Omni Channel concept.

Mr. Suthisarn says that to create brand awareness and celebrate the official launch of baan & BEYOND, the company will organize the baan & BEYOND Expo 2018 from 28 September to 7 October 2018 at BITEC Bangna, Halls 101-104. This will be a mega trade fair of products for home decoration, home repairs and electrical appliances with discounts of up to 80% offered by more than 500 leading brands. Customers can enjoy a variety of activities and special promotions at the event.

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