Central Retail forecasts 20% revenue growth in 2022

This will be supported by the stronger purchasing power of Thais.

Central Retail Corporation (CRC) projected its revenue will grow by 20% in 2022, driven by the upcoming high season as well as the stronger purchasing power of consumers in Thailand. 

“Over the past nine months, Central Retail’s performance has continued to be positive in every channel - offline, online, and omnichannel. We are confident that the upcoming high season will further support the growth of our revenue, as purchasing power of Thai consumers has returned and foreign travelers visit Thailand more,” Yol Phokasub, Chief Executive Officer of Central Retail Corporation Public Company Limited or CRC, said. 

“The government also has stimulus initiatives like Shop Dee Mee Kuen to boost Thai people’s spending in the last quarter of the year, stimulating the Thai economy, thereby positively impacting the retail sector.”

Read more: Central Retail launches premium food store ‘Tops Fine Food’ in Thailand

He noted the company registered growth in its key businesses, such as Tops One Brand, Tops CLUB, and Tops Fine Food. 

It also launched new stores for Thai Batsadu and Robinson Lifestyle Shopping Centre, amongst others.

“Central Retail sees many positive signs from many factors, such as the lifting of COVID-19 restrictions, stable oil prices, more tourists in Thailand, Vietnam and Italy, and the government’s stimulus programs which have helped the business sector grow in every industry,” he also said.

“The government also has measures to attract foreign investors to come invest in Thailand. These factors will certainly help the retail and service industries, as well as Central Retail, grow further.”