bangkok retail market report q1 2011 | colliers international thailand
TRANSCRIPT
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
1/12
Q4 2010/Q1 2011
new Supply
RenTAlS
OccupAncy
Bangkok RETaIL MaRkETThAilAnd
.ors.o.t
Bangkok Retail Market
execuTive SummARy
Supply rwth slwi q/q r Q1 2011 with just rud 14,180 sq m bei cmpleted, ll bei
cmmuity mlls.
Retls rtes esclted q/q by rud 4% d te up icresed by pprximtely 1% r the sme
perid. Csumer cdece d spedi ver the pst yer re psitively ecti the retil
sectr s whle.
The tred is t ly the develpmet ew retil cetres but the revti lder buildis
with utdted retil desis d mix. This iht t the tp c ly be beet t custmers d
the sectr s whle.
The re ecmpssi the rther prt the eihburi prvice Smut Pr l
with B n, which brders the prvice i Bs suburbs, is icresily bei see s strteic hub r the whlesle d listics mret due t its lcti clse t the city, airprt
d Ester Sebrd.
Q1 2011 | Retail
mARkeT indicATORS
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
2/12COLLIERS INTERNATIONAL | P. 2
Bangkok Retail MaRket RePoRt | Q1 2011
apprximtely 14,180 sq m ws cmpleted i Q1 2011, with erly 10,400
sq m lcted i Suburb B d the rest i the outer City re.
a secti Cetrl Wrld, icludi Ze deprtmet stre, is still
uderi revti llwi the dme cused by the re i My
2010, hwever CPn uced the clsure Cetrl Ldpr r
revti r six mths rm 14 Februry t the ed July 2011. The
clsi this ceter hs led t ther retil ceters ttempti t ttrct
custmers rm Cetrl Ldpr by luchi my cmpis d
prmtis.
Tw ew cmmuity mlls peed i Q1 d these remi very ppulr
d shible sectr retil busiess, especilly i the Suburb
B re. oe is the amrii Butique Liestyle Hll with
pprximtely 5,000 sq m which hd its fcil rd pei 21
Mrch 2011 d is lcted i Suburb B Est. The ther is
The Circle Rtchpru i Suburb B West re. This cetre
is the Rtchpru rd i mst the ew hih ed vill develpmets
tht exist r re bei cstructed. The cetre is e level d
ctis eclectic rchitecturl desis.
o 21 Mrch, Bi C strted the prcess t rebrd the Crreur
hypermrets which the cmpy purchsed i 2010. Bi C hve lredy
uced tht 34 brches ut the ttl 42 will uder
rebrdi mever but the remider will be sld s they re lredy
i clse prximity t existi Bi C supercetres.
Surce: Clliers Itertil Thild Reserch
AddiTiOnAl Supply by QuARTeR
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
3/12
bReAkdOwn Of ReTAil SpAce in bAngkOk by lOcATiOn, Q1 2011
COLLIERS INTERNATIONAL | P. 3
Surce: Clliers Itertil Thild Reserch
Retil develpers re tryi t develp prjects clser t their ctchmet
res i the suburb res, where mre peple live. Hwever ly hl
ttl retil spce i B is lcted i the suburb B re;
with every deprtmet stre i B lcted i the urb re due t
the ttrcti, s i mst cities, shppi i the cetre. Bere the
dvet crs r the msses the cetre ws the re tht peple ced
t r the retil experiece. The vst mjrity luxury shps re lcted
i the City are.
Bangkok Retail MaRket RePoRt | Q1 2011
cumulATive fuTuRe Supply in bAngkOk by yeAR And cATegORy, AS Of Q1 2011
Surce: Clliers Itertil Thild Reserch
The uture supply scheduled t be cmpleted i 2011 muts t mreth 300,000 sq m, with pprximtely 217,000 sq m s shppi mlls.
The mjrity will cme rm Cetrl Rm 9 which is scheduled t pe
i Q4 2011 with rud 150,000 sq m retil spce. apprximtely63,000 sq m is expected t be cmpleted i 2012.
fuTuRe Supply
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
4/12
a re i the prvice Smut Pr but djcet t the B
Metrplit re will becme shppi hub. I the ester prt
B l B Trd Rd, Me B by Sim Future
Develpmet Plc. d IkEa with ttl re pprximtely 400,000
sq m is scheduled t be peed i Q3 2012 Hwever IkEa with rud
40,000 sq m stre spce is slted t pe by the ed 2011. Curretlyretil sttistics r this re re t ctied i this reprt.
other siict retil ceters c be ud i the sme viciity, such s
SB Desi Squre, Idex Livi Mll, Tesc Ltus, Bi C i Cetrl
B s well s Sec Squre d Prdise Pr Sriri
Rd. I dditi develper rm Chi pls t ivest up t 45 billi
bht i mjr whlesle trde cetre which will be med Thi
Chi Itertil Prducts City B Trd Rd er
Suvrbhumi Itertil airprt with ttl spce tw milli sq
m with the rst phse 700,000 sq m scheduled t be peed i
octber 2012. Hwever this prject hs cme uder sme ctrversyrm Thi trders wh eel the prject will crwd Thi prducts ut
the mret with iux Chiese mde es.
OuTSide Of bAngkOk
COLLIERS INTERNATIONAL | P. 4
Bangkok Retail MaRket RePoRt | Q1 2011
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
5/12COLLIERS INTERNATIONAL | P. 5
bReAkdOwn Of hiSTORicAl TAke-up RATe Of ReTAil SpAce by lOcATiOn, Q1 2010 Q1 2011
TAke up RATe Of cuRRenT Supply by cATegORy, Q1 2011
Surce: Clliers Itertil Thild Reserch
Surce: Clliers Itertil Thild Reserch
Smll icreses were reistered i ll zes r Q1 2011. The City d
outer City res were up by rud 0.7 - 0.9% while i the Suburb
re icrese pprximtely 1.1% ws recrded. This reects the
rwi csumer cdece ter the difcult lcl d lbl evets
2009 d 2010.
Te up rte ll cteries, except supprti retil, is mre th 95%.
Supprti retil cmmds ly 85% d c be explied by the
relice custm rm wrers i the fces tht the retil cmpet
supprts. Lwer levels fce ccupcy ver the pst ew yers
ccut r this s this mes less peple usi the utlets. I sme
situtis the spce r supprti retil is t lre r the size the
fce it supprts d sme cvert t fce use r ther uctis such
s eductil/trii cetres.
demAnd TAke-up
Bangkok Retail MaRket RePoRt | Q1 2011
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
6/12COLLIERS INTERNATIONAL | P. 6
The slump i csumer cdece r much 2008 d 2009 ws the
result the glbl Ficil Crisis, which cused Thilds gDP t
shri. While cdece be t ssume sustied upwrd pth i
the witer perid 09/10, this ws severely deted llwi the
prtests i april d My. Hwever Q3 witessed retur t the risi
tred d Q4 ws the hihest qurter i the lst ur yers. I Q1 2011
this ell rm Q4 by pprximtely 24%, due t my ctrs, such s the
urest i the Middle Est d nrth aric, seismic dissters i Jp
d Mymr, risi il prices d ds i suther Thild.
Surce: Bureu Trde d Ecmic Idices, Clliers Itertil Thild Reserch
cOnSumeR cOnfidence index (cci)
demAnd dRiveRS fOcuS
Bangkok Retail MaRket RePoRt | Q1 2011
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
7/12COLLIERS INTERNATIONAL | P. 7
Bangkok Retail MaRket RePoRt | Q1 2011
ReTAil SAleS index by QuARTeR
Surce: B Thild, Clliers Itertil Thild Reserch
Remr: Yer 2002 = 100, E = Estimted by Clliers Itertil Reserch
The prtests i Q2 2010 hd impcted the retil mret but i Q3 2010
the verll ptter spedi retured, d this shws ptimism r the
uture. Fr Q4 2010, the B Thild recst retil sles shwithe hihest levels i the lst ve yers, eve cmpred t the previus
Christms d new Yer hlidy sess.
Credit crd use ver the pst ve yers hs icresed by rud 60%,
d these crds re mre te used i rized retil ceters. The
recet umbers idicte ll i spedi duri the prtests d pic-
up i Q3 2010. The urth qurter, the lst qurter the yer, icludes
the Christms d new Yer estivls, s credit crd use vlume ithis qurter every yer is usully the hihest.
digiTAl ReTAilS
The ntil Electrics d Cmputer Techly Ceter (nECTEC)reprted the umber iteret users i Thild i 2010, bsed
survey results rm www.truehits.cm, t be mre th 21 milli,
icrese erly 15% rm 18.3 milli peple i 2009; d ccrdi
t the nECTEC reprt the umber iteret users is t rud 33%
the ppulti i Thild with reter umber expected r B.
Retil develpers re therere li t pprtuities t expd their
sles chels, by pei their w lie stres. Hwever the umber
This wh shp lie is still lwer th my cutries i asi. The
ir cditied shppi experiece i Thild reects wy lie tht
icludes siict etertimet cmpet which llws mily d
rieds t ejy their time tether ut the trpicl het d the
iteret will hve difculty cmpeti with this r sme time t cme.
I the lst qurter 2010 tw bi plyers i retil busiess stepped it
the lie shppi busiess. The Mll grup fcilly luched the M
olie Deprtmet Stre (Mds: www.mds.c.th) December 8 2010
d will prmte mre th 30,000 prducts i 11 cteries. They ls
pl t icrese the umber prducts vilble r lie shppi t
but 100,000 ext yer.
Cetrl rup luched their w shppi lie website, www.cetrl.
c.th i which TnT will be respsible r the listics. Bi C ls hve
website r shppi lie www.tbiclic.cm, but buyers must
t Bi C utlet t pic up the prduct. I dditi t the mjr retil
plyers there re ew etrts it the mret such s Uber Mll the
rst 3D shppi mll lie d www.2010MeSle.cm by ksir
B. a survey by Mster Crd Wrldwide ud tht Thi peple re
iterested i shppi lie, with vere vlue prducts buht
lie icresi t 18,150 bht per pers, mre th the lst survey
pprximtely 5,000 bht.
ReTAil SAleS
TRendS
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
8/12COLLIERS INTERNATIONAL | P. 8
The retl rtes i every re icresed rud the 4% mr q/q r Q1
2011 reecti the rwi cdece i the retil sectr d the ect
revtis lder prperties.
Surce: Clliers Itertil Thild Reserch
RenTAl RATe duRing The yeAR Q1 2010 Q1 2011
RenTAlS
Bangkok Retail MaRket RePoRt | Q1 2011
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
9/12COLLIERS INTERNATIONAL | P. 9
Bangkok Retail MaRket RePoRt | Q1 2011
STRengThS
Retil cetres re plces t ly r shppi but etertimet
lctis i their w riht. B scres well i this rerd d c
rw rm this i urther ehci the retil experiece.
Eve i times ucertity shppi still remis ey cus peples
lives s well s ecessry ctivity d therere the sectr is mre
immue rm cyclicl evets th ther sectrs.
My cetres re uderi revti d this dds t the retil
experiece s well s icresi retl rtes. Imprved desi helps t
icrese trfc w t the upper rs mder retil cetre d
therere this llws hiher retl rtes t be chred.
weAkneSSeS
My retil ceters i B hve bee pe r mre th 15 yersd my mre re i stte decy, bslete, r with bd lyut d
retil mix, therere develpers d wers re strti t revte r re
rre the lyut d ccept i i the ext ew yers.
With limited plyers i the retil mret the desi retil cetres my
eed t be rereshed. Mre ivti i the rchitecture retil cetres,
especilly Cmmuity Mlls wuld help t ivirte the mret d dd
t the B shppi experiece.
OppORTuniTieS
The pei up aSEan ecmies culmiti i the asi Ecmic
are i 2015 culd led t reter demd r whlesle ceters t
cter r rwi trde. The Chiese prject i B-n is reecti
this.
The develpmet ew cdmiiums i previus greeeld r lder
develpmet res presets ctiued pprtuities r the creti
cmmuity cetres cteri r these ew ppulti clusters.
Future relxti zi restrictis bsed ew cesus shuld
llw r the urther develpmet lrer scle retil d etertimet
cetres utside the city cetre.
ThReATS
Curret lbl ecmic ucertities d lmi eerl electi
still hut setimet i rwrd.
Future restrictis the develpmet lre scle retil cetres i the
cetre culd stymie rwth i the mi shppi re B.
Hwever mve rm qutity t qulity by the cstt ivtive
redevelpmet existi retil spce culd led t urther dymism.
Cslidti the Hypermret sectr it eectively tw mi plyers
culd led t mre mplistic prctices. Hwever duply c be
just s cmpetitive d csumers hve ther chices such sdeprtmet stres d cmmuity mlls i price becmes prblem.
SwOT AnAlySiS
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
10/12COLLIERS INTERNATIONAL | P. 10
Appendix
Bangkok Retail MaRket RePoRt | Q1 2011
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
11/12
ReTAil lOcATiOnS
COLLIERS INTERNATIONAL | P. 11
Bangkok Retail MaRket RePoRt | Q1 2011
ReTAil mARkeT cATegORieS
The rized retil mret i Thild c be divided it seve mi
cteries, bsed size, chrcteristics, ds sld, d prici:
1) So ma / So ctr
2) dartt Stor (ures r this reprt iclude std-le stres
ly; thse lcted i shppi mlls re t icluded)
3) hrart
4) cot ma
5) Sat Stors
6) etrtat co (this des t iclude etertimet res i
shppi mlls, s these represet itrisic prt the shppi mll
mix)7) Sort Rta
Note: For the purposes of the report, retail refers to organized retail services andexcludes traditional single proprietor outlets often located in shophouses and marketsconsisting of predominantly small traders. Also, supermarkets have been excluded
from this report.
-
8/6/2019 Bangkok Retail Market Report Q1 2011 | Colliers International Thailand
12/12
cOllieRS inTeRnATiOnAl ThAilAnd
mAnAgemenT TeAm
RETaIL SERVICES
ashrw Wcht | Seir Mer
aDVISoRY SERVICES | HoSPITaLITY
Je Mrc grret | Directr
PRoJECT SaLES & MaRkETIng
Mchi orwpis | Seir Mer
RESIDEnTIaL SaLES & LEaSIng
npsw Chtephrd | netitr
oFFICE & InDUSTRIaL SERVICES
nrum Rdsirvrpht | Seir Mer
aDVISoRY SERVICES
nptr Tiechutim | asscite Directr
REaL ESTaTE ManagEMEnT SERVICES
Bdid Chyitu | asscite Directr
InVESTMEnT SERVICES
nur Suwtiul | asscite Directr
Ws Rttijjuul | Seir Mer
RESEaRCH
aty Pic | asscite DirectrSurchet kcheep | Seir Mer
VaLUaTIon & aDVISoRY SERVICES
nichls Brw | asscite Directr
Phchsu Phrmthut | asscite Directr
Stip kreemh | Seir Mer
Wid Susuw | Mer
PaTTaYa oFFICE
Mr Bwli | Seir Sles Mer
Supee Strjitsi | Seir Busiess Develpmet
Mer / ofce Mer
CollieRS inteRnational thailand:
B ofc17/F Plechit Ceter,2 Suhumvit Rd, kltey,B 10110 Thild
Tel +662 656 7000
fAx +662 656 7111
emAil [email protected]
Py ofc519/4-5, Ptty Secd Rd (oppsite Cetrl FestivlPtty Bech), nprue, Blmu, Chburi 20150
Tel +6638 427 771fAx +6638 427 772
emAil [email protected]
ReSeARcheR:
Thildaty Picasscite Directr | Reserch
emAil [email protected]
ReSeARcheR:
ThildSurchet kcheepSeir Mer | Reserch
emAil [email protected]
480 fces i 61 cutries 6 ctiets
The third lrest cmmercilrel estte services cmpy ithe wrld
The secd mst recisedcmmercil rel estte brdlblly
US$2 billi i ul reveue
over 2 billi squre eet udermemet
over 15,000 pressils
This reprt d ther reserch mterils my be ud ur website t www.clliers.c.th. Questis relted t
irmti herei shuld be directed t the Reserch Deprtmet t the umber idicted bve. This dcumet hs
bee prepred by Clliers Itertil r dvertisi d eerl irmti ly. Clliers Itertil mes
urtees, represettis r wrrties y id, expressed r implied, rerdi the irmti icludi, but
t limited t, wrrties ctet, ccurcy d relibility. ay iterested prty shuld uderte their w
iquiries s t the ccurcy the irmti. Clliers Itertil excludes uequivclly ll ierred r implied
terms, cditis d wrrties risi ut this dcumet d excludes ll libility r lss d dmes risi
there rm. Clliers Itertil is wrldwide fliti idepedetly wed d perted cmpies.
accelerti success.
Uited Sttes: 135
Cd: 39Lti americ: 17
asi Pcic: 194
EMEa: 95
Bangkok Retail MaRket RePoRt | Q1 2011