Amidst the spread of COVID-19, which continues to affect the economy and every business sector, with no end in sight, Central Group and its affiliates care about and are ready to help their partners and businesses in all levels. The Group and its affiliates want to play a role in helping every sector adapt to the new normal and cope with changes so that they can move forward.
Pichai Chirathivat, Executive Director of Central Group, said that safe recovery the economy alongside strict measures to curb the spread are in order to help the business and service actors move forward. Although there have been positive signs, as lockdown measures have been recently eased, and vaccines are widely distributed, with plans to reopen the country, we still need to closely monitor the situation. Central Group has come up with plans to help revive the Thai economy, and has worked with partners in various fields as well as its affiliates to be “Central of Life” to accelerate its support, from assisting SMEs and partners to boosting Thai people’s and tourists’ spending under three integrated strategies.
1. REDUCE: To help businesses stay afloat and reduce expenses, plans are in place for businesses, especially SMEs, to stay afloat, and for consumers to reduce their cost of living, as well as for creating continuous employment.
1.1 Rental fee reduction at its stores as suitable. The reduced rates are offered to more than 15,000 tenants on a total area of more than 40,000 square meters nationwide.
1.2 Cost of living reduction through discounted items and Hug Thais campaign by Central Pattana and Central Retail to stimulate domestic spending, inviting Thais to eat, shopped, and spend locally.
1.3 Locked prices and discounts on items that are crucial to everyday living. Prices remain affordable in order to ease the financial burden for everyone.
2. REBUILD: Driving activities that contribute to revival and progress of the economy, with attention paid to the process of recovering the economy, particularly the grassroots economy and SMEs. Support is given in order to ensure that they have access to funds, so that they can continue to grow their businesses. At the same time, consumer spending gets a boost to inject cash flow into the country’s economy.
2.1 Leveraging the Group’s capacity, Central Group offers distribution platforms for communities such as Jing Jai Farmers’ Market, and spaces for local products at Thai Watsadu and Baan & Beyond, generating over 840 million baht for 35,000 vendors from 1,450 communities.
2.2 Promoting financial liquidity by partnering with leading financial institutions to offer soft loans to partners and SMEs, with a target of 500,000 businesses, to improve their businesses’ cash flow.
2.3 Boosting domestic spending and the community economy through campaigns that stimulate tourists’ spending such as the “Shopcation Exclusive Privileges” campaign in partnership with the Tourism Authority of Thailand, offering discounts and stores and hotel under Central Group to tourists visiting Thailand under the Phuket Sand Box and Samui Plus models.
2.4 Actively boosting the economy by expanding businesses under Central Group to offer growth opportunities to businesses and create continuous employment. Soon, there will be launches of Central Sriracha (October 27, 2021), and Central Ayutthaya (November 30, 2021).
3. REINFORCE: Strengthening businesses by elevating capabilities to grow with quality, stability and sustainability.
Utilizing the capabilities of all businesses under the Group in an integrated way, Central Group has a holistic strategy to open up new opportunities under the new normal in this changing world. Central Group is ready to move forward and maintain safety measures.
3.1 Catering to the new normal by capitalizing on the strength of its Omnichannel platforms which allow customers to access products easily, conveniently and safely both online and offline with channels like live streaming, Chat and Shop, Drive-Thru, and pick-up services.
3.2 Offering contactless payment options such as Central The1 credit card which offers contactless payment, and Dolfin Wallet e-payment.
3.3 Utilizing Central Group’s online channels to equip communities and farmers with communication platforms. Online channels are introduced, and farmers are trained to have new skills such as how to use JD Central or Central Tham Market.
3.4 Supporting start-ups to grow stronger. For example, Central Group has partnered with an up and coming ecommerce start-up Mercular in Hobby & Lifestyle products to introduce new retail channels to its omnichannel platforms.
Central Group believes that the Thai economy will bounce back and grow sustainably, but different businesses will recover at different rates. Every party has to work as one with flexibility and a holistic approach in order to help Thailand get through the Covid crisis, so that we can live happily in the new normal era of this changing world.
