Siam Piwat bags a triple win at the Retail Asia Awards 2023

It sets a new standard for luxury shopping malls globally, redefining the luxury concept, and offering a one-of-a-kind experience to customers.

Siam Piwat Group, a leading world-class retail, and real estate developer in Thailand, has successfully developed Siam Paragon to become a legendary landmark in the heart of Bangkok and a must-see destination for local and international visitors. The mall's remarkable milestones, such as the solid sales growth of some shops that ranked amongst the top in the world and the continuous expansion of luxury brands' floor space, have gained recognition, winning the Mall of the Year - Thailand at the Retail Asia Awards 2023.

The mall faced two significant challenges in the aftermath of the pandemic: changing consumer retail landscapes and luxury retail's constant evolution. In response, Siam Paragon launched a transformation project to redefine the global landmark to new heights of excellence and meet the lifestyle needs of the future.

The mall's Paragon Community of Global Citizens offers new "cluster" spaces that provide products, services, and activities that serve the needs of different communities. The ONESIAM SuperApp serves as a gateway to the next frontier where the digital world meets the physical world, creating a new global prototype of a co-creative platform that seamlessly bridges the physical world, the digital world, and the metaverse to present exciting lifestyles of the future. 

To stay ahead of the game, Siam Paragon introduced the "New World Luxury" concept, which aims to elevate its reputation as the premier leader in luxury retail excellence. Also, Siam Paragon brings the idea that luxury comes in multi-dimension to fulfil their way of life. The concept allows customers to express their own personality and style and offers relaxation, comfort, convenience, confidence, pride, and happiness. It also allows them to engage with like-minded communities, provides a personal reward for their hard work, and helps them advance in professional circles. 

These innovative initiatives have resulted in record-high revenue in 2022, with over 50% growth from the previous year, surpassing its pre-COVID marker value in 2019. Luxury brand growth has climbed to the world's top ranking in sales, reinforcing its strong leadership of the affluent shopper segment. 

On the other hand, ONESIAM SIAM SMILEY® CELEBRATION: Infinite Happiness has been named Marketing Initiative of the Year - Thailand. This programme marked Smiley®'s 50th anniversary and was the largest collaboration between Siam Piwat and its world-class partner Smiley®, an iconic global lifestyle brand from England.

The project's three main objectives were to create the talk of the world, create a complete 360-degree omnichannel in one project, and raise awareness and educate shoppers about sustainability. The campaign achieved all three objectives and generated impressive results, including a total PR value of 51,772,522 Baht (US$1,495,883.67), coverage by more than 150 media outlets, a 20% increase in traffic compared to the previous month, and sales of exclusive merchandise driving a conversion rate of 22%.

The celebration offered extraordinary experiences, including Smiley® faces, dazzling Christmas trees, and installation art. The event featured the SMILEY® Parade and an exciting lineup of international theatre performances from France and the Netherlands, publicised through mainstream and online media.

This 360-degree omnichannel experience was co-created by the Siam Piwat Group in collaboration with its tenants, business partners, and global and local artists. Each stakeholder involved in this campaign not only generated profit but also gained new knowledge on how to create products with a global brand.

Lastly, Siam Piwat’s Luxury Chat and Shop in 2021 won the Customer Service Initiative of the Year - Thailand. In response to the pandemic, the service provides an extraordinary online shopping experience that brings world-class luxury brand items directly from the shops inside Siam Paragon Shopping Center and Iconluxe Iconsiam to customers’ doors.

Customers can choose either Siam Paragon Luxury Chat and Shop or Iconluxe Iconsiam Luxury Chat and Shop and browse daily highlight products from various luxury brands, with personal assistants providing information, checking availability, and advising about payment. Once the payment is made, each luxury brand delivers products to the customers. 

The Luxury Chat and Shop service has been highly successful, with 17 luxury brands participating, including Fendi, Offwhite, Bottega Vennetta, Balenciaga, Dolce & Gabbana, MCM, and Versace, many of which successfully achieved top sales during the pandemic. The participating luxury brands successfully garnered a total of 1,152,000,000 Baht (US$33,743,416.32) in six months from this service.

Siam Piwat's Luxury Chat and Shop service has also enabled the company to reach new customers by 21% by expanding its target beyond Bangkok. The service has proven to be an effective platform as a one-stop shopping destination for Siam Piwat customers, affluent shopaholics, and lifestyle shoppers, where they can purchase products from world-class brands off the runway from anywhere and enjoy exclusive promotions and privileges.

The success of the Luxury Chat and Shop service has inspired Siam Piwat to develop a mobile application that features curated and personalised content for luxury shoppers and delivers a new omnichannel mobile experience—the "ONESIAM SuperApp."

Currently, over 1,000 premium and luxury brands have joined ONESIAM SuperApp to offer their products on the platform, contribute exciting content, and develop a loyalty platform.

The Retail Asia Awards is presented by Retail Asia Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's exceptional products or initiatives in the retail industry, please contact Jane Patiag at [email protected].