Retail in Asia

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Thai retailers banking on Chinese New Year splurge

Major Thai retailers are competing head-on to capture consumer spending power, which is expected to increase during Chinese New Year next month.

The first round of the retail battle began with leading retailers allocating a combined budget of THB500 million (USD14m) to spur a shopping spree from now until Chinese New Year, which falls on Feb 8 this year.

They are The Mall Group; Rangsit Plaza Co, operator of Future Park Rangsit shopping mall; Central Pattana Plc, operator of CentralPlaza shopping complexes; Siam Piwat Co, operator of Siam Paragon; and Tesco Lotus.

Customers are being lured with travel trips, gold bars and necklaces, mobiles, free dining and cultural shows from China.