Thai retail giants plan major expansion of outlets nationwide
Three major retail operators in Thailand – 7-Eleven, Big C and Lotus’s – have unveiled plans to open around 1,000 stores this year to win the hearts of local communities and the younger generation.
Convenience store chain 7-Eleven plans to open 700 branches with an investment of around 13 billion baht this year, covering investment in branch opening, renovation, IT and warehouse systems. The brand has around 14,545 branches nationwide as of last year.
Meanwhile, Big C has plans to open around 200 Big C Mini branches this year, adding to the existing 1,500 branches.
Each branch will be 60-100 square metres in area, the operator said, adding that these branches would play an important role in penetrating the retail market.
Big C plans to boost the potential of local retail stores nationwide with technology and renovation. About 6,000 local operators have partnered with the company, it added.
Lotus's has planned to open around 100 Lotus's Go Fresh branches, each measuring 80-300 square metres, this year. The brand currently has around 2,000 branches nationwide.
According to Krungsri Research, the retail business is expected to witness an annual growth rate of 5 to 5.5 per cent between 2024 and 2026. This expectation is based on an increase in purchasing power and foreign arrivals, as well as the government’s mega-projects and new Bangkok city plan.
However, the business is expected to face challenges from intense competition, store expansion and online marketing strategy.
