Placemaking: A precedent for <b>retail</b> industry | RetailTechPodcast

Placemaking: A precedent for retail industry

Large retailers are following the global trend to give shoppers diverse experiences by turning their malls into destinations where shoppers can do pretty much everything. The retail property market in Thailand has remained challenging. These facts have made "Placemaking" a frequently discussed topic among retail professionals in Thailand, despite variable definitions. B2S, a local bookstore chain by Central Retail Corporation, has opened its first "Think Space" concept at Central Festival EastVille, with a total area of 30,000 sq ft as a place for new ideas, inspiration and networking. While online retail continues to pose a challenge to retail centres, real estate owners and developers are more and more adopting the placemaking concept and strategy into their malls to ensure continued appeal to the consumers. Shopping malls nowadays will not be just places for shopping but also places for creativity and excitement. Jariya Thumtrongkitkul is associate director, head of retail services, CBRE Thailand. Read more