Thailand retail heavyweight Central Retail Corporation (CRC) is splashing out up to 47 billion baht in a three-year spree of store openings, renovations and regional rollouts, even as spending on the high street looks shakier than a Black Friday bargain bin.
CRC, listed on the Stock Exchange of Thailand (SET), unveiled a sweeping investment plan of 45–47 billion baht between now and 2028, as it bets big on a long-term rebound despite warning signs in the local economy.
CRC boss Suthisarn Chirathivat admitted consumer spending had noticeably dropped since April and flagged sluggish growth for the second half of the year. But rather than slam the brakes, CRC is shifting gears.
“This is the time to build a stronger foundation. We’re driving growth in our core businesses with a sharp focus on sales, profit, and scale.”
Under its “New Heights, Next Growth” strategy, CRC is targeting younger and mainstream shoppers, while also strengthening its wholesale and B2B game.
One of CRC’s fastest-growing frontiers is Vietnam, where the company is ramping up both its food and mall businesses. Its GO! model, a combo of malls and hypermarkets in larger cities, and compact supermarkets in smaller ones, is central to its expansion blueprint.
CRC currently runs 34 stores in 26 provinces across Vietnam and plans to open more in phases, alongside pushing its GO Wholesale business with the “Always Fresh-Forward” concept, which is geared towards hotels, restaurants and catering clients.
Across Thailand and Vietnam, CRC plans to roll out:
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1–2 new department stores
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25–30 Tops supermarkets
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13–16 Thaiwatsadu hardware outlets
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2–3 Robin Lifestyle stores
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4–6 GO! centres
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12–15 go! mini-supermarkets
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At least 10 new Auto1 branches every year
Bangkok Post reported the company is eyeing 5% annual revenue growth, fuelled by this ambitious pipeline.
To help boost spending, Suthisarn urged the government to take pressure off consumers by cutting oil and electricity prices and reviving tax rebate schemes like the “Shop Dee Mee Kuen” stimulus.
On tourism, he stressed the need for high-quality visitors who spend more, and called for a clampdown on online retailers, saying stricter regulations are needed to ensure fair play with bricks-and-mortar shops.
Despite political uncertainty and global turbulence, Suthisarn struck an upbeat note.
“No one wants prolonged conflict,” he said. “We’re ready for anything, thanks to our risk teams and strong inventory controls. And whatever happens politically, all parties ultimately want to grow the economy.”
With a war chest full of cash and a clear game plan, CRC looks set to keep growing—even if Thai wallets aren’t opening quite as fast.
The story Thailand shopping giant hits CRC button on spending spree as seen on Thaiger News.
