Samyan Mitrtown thrives amid Covid-19 retail challenges, celebrates 4th anniversary
Fraser Property Commercial Thailand (FPCT) defied the odds with its mixed-use property, Samyan Mitrtown, thriving amidst the retail challenges brought about by the Covid-19 pandemic.
Despite its initial launch shadowed by the established shopping culture of the Siam Square complex, Samyan Mitrtown emerged victorious, celebrating its fourth Anniversary in September with significant growth in foot traffic and a high occupancy rate.
Thiranant Kornsritipa, Executive Vice President of Retail Business Development at FPCT, emphasised the importance of community-centric success in Samyan Mitrtown’s triumph.
The property, strategically located near educational institutions and local schools, has been designed to echo the neighbourhood’s character, thus aligning businesses with the local community’s needs and lifestyle.
Within four years, Samyan Mitrtown’s retail sector has seen a 40% increase in foot traffic with a daily user count of 77,000. The property’s total occupancy rate stands at an impressive 98%, with a tenant renewal rate of 97%.
Key strategies
Samyan Mitrtown’s success can be credited to its three key strategies: Mixed-Use Strategy, Creative Space for All, and Responsiveness to Trends.
The Mixed-Use Strategy leverages the property’s strategic location and accessibility to the younger generation and working professionals. The Creative Space for All strategy offers 24-hour operations and event spaces, providing a platform for students and locals to express their creativity and advocate for community needs.
In partnership with the Bangkok Metropolitan Administration (BMA), Samyan Mitrtown has been a hub for community activities and events centred around music, arts, culture, and infrastructure improvements. One such event, Hello Hab-Re, serves as a platform for street food vendors, preserving the spirit of the Samyan community while attracting a diverse audience.
Recognising the importance of digital engagement in today’s world, Samyan Mitrtown has also embraced technology to stay responsive to trends. Seasonal events like Pride Month and Songkran Break are organised in collaboration with BMA to attract more customers. The ‘Lan nom’ (milk bar) event, held every December, draws holiday enthusiasts with its unique offerings of food and drink, providing an alternative to the typical beer garden.
Samyan Mitrtown’s innovative ‘Retail Sandbox’ offers a 20×30 square metre non-contracted rental space for new entrepreneurs to test their products and services before the official launch. This has proven particularly beneficial for coffee shops experimenting with new flavours and menus, as well as established brands using vending machines to cater to modern-day consumer needs, reports Bangkok Post.
Thiranant Kornsritipa concluded that Samyan Mitrtown continues to step out of its comfort zone to meet current and untapped community needs. We are committed to developing Samyan Mitrtown as a community-centric space that inspires others to support the community.
