SET-listed home decoration and improvement company Home Product Center Plc, the operator of HomePro, has alloted 16.4 billion baht to open more stores and renovate existing stores next year.
Saowanee Sirariyakul, senior vice-president for marketing, said that of the total 16.4 billion baht, 7.9 billion baht will be used to open 2-3 new HomePro stores and renovate 7-8 of its existing stores. The remaining 8.5 billion baht will be used to open 5-7 new Mega Home stores and renovate 3-5 existing ones.
"Since lockdown restrictions have been eased in October, customer sentiment is much better and the momentum continued after the government reopened the country early this month," said Ms Saowanee.
"Shoppers responded quite well to our promotion campaigns, boosting sales in October which grew by 30% from the same month last year. We strongly believe in the recovery in the home improvement and housing markets next year."
Ms Saowanee said sales via the online channel also fared well, adding the company will expand business e-commerce platforms, starting with Shopee early this month.
Sales contribution from the online channel now accounts for 8% of the company's sales, up from 3-4% last year.
Currently, the company operates 94 HomePro stores across the country along with 14 Mega Home stores.
According to Ms Saowanee, this year the company invested one billion baht in a new HomePro store on Bang Na Km 1. This 94th HomePro branch with a space of 18,000 square metres will officially open tomorrow. It comes up under the Smart Life & Home Inspire concept, the latest format of HomePro to be rolled out next year.
"The new image of HomePro Bang Na Km 1 aims to widen our customer base to Generation Y customers aged between 28 and 35," she said, adding that in order to reach these customers, the company reformatted its store layout and merchandising display to entice visitors to visit its stores more frequently.
HomePro Bang Na is expected to be among the company's top five stores because it is located in an area in eastern Bangkok that will see a resumption in housing market expansion, particularly housing estates and condominiums.
It also has many growth factors from transportation, workplaces and educational institutions that help continuously drive the number of residents in the Bang Na area, she said, adding HomePro Bang Na Km1 branch could serve demand for housing products from customers who live within a 10 to 30-kilometre radius around Phra Khanong and Prawet as well as Bang Phli in Samut Prakan.
The company expects HomePro Bang Na Km 1 to generate 120 million baht in revenue per month.
With the opening of a new store and the big new promotion campaigns poised to launch during Dec 2-6, the company expects sales to top 58 billion baht this year, up 10% from last year.
