King Power redefines business challenges as opportunities, driving the new campaign forward in 2024 with the concept “POWER YOUR WORLD” The strategy for the year 2024 emphasises 3 POWER strategies: POWER OF PLACE, transforming the Rangnam Duty-Free Hub into a world-class tourist destination with 3 mega events under the theme “FESTIVALISATION” of Rangnam; POWER OF EXPERIENCE, enhancing the shopping experience to the fullest dimension; and POWER OF PEOPLE, a new business unit specialised in technology and innovation, “THE ABLE BY KING POWER,” elevating King Power into a sustainable organisation of the future.
Aiyawatt Srivaddhanaprabha, Chief Executive Officer of King Power Group, stated that in 2024, the business world would face challenges from the global economic fluctuations. King Power sees these challenges as business opportunities to drive the organisation forward under the concept “POWER YOUR WORLD: It’s Possible, It’s Achievable,” meeting the diverse needs of consumers through the 3 POWER strategies, reaffirming its leadership in travel retail. These strategies include:
- POWER OF PLACE : Transforming the Rangnam Duty-Free Hub into a global tourist destination. King Power collaborates with the Thai government and private sectors, including Bangkok Metropolitan Administration, entrepreneurs, and local Rangnam communities, to develop and transform the retail space into a world-class tourist destination. By enhancing the area’s charms and identity through food, traditions, and culture, along with organising major events such as the Chinese New Year, Songkran Festival, and the year-end festival, King Power aims to create a festive atmosphere and turn the area into a new tourist destination in Thailand, with the goal of benefiting both the local community’s and the country’s economic well-being.
- POWER OF EXPERIENCE : maximising the shopping experience to the fullest dimension. The new loyalty program combines benefits from all business segments within the group, King Power and its partners cater to every lifestyle, from travel, dining, wellness, and leisure, to become a travel-lifestyle experience that meets the needs of both Thai and international tourists. Additionally, King Power strives to utilise marketing technology to communicate with customers to enhance and create added value for their journey. By engaging customers in their travel’s decision-making from start to finish, the campaign is set to expand the customer base to include new groups with high-purchasing-power in every generation and segmentation through various partnerships. The program offers benefits and exclusive privileges for members and focuses on expanding its network in the premier segment that includes VEGA and CROWN members.
In addition, King Power is also preparing a proactive marketing plan to target tourists from the ASEAN Economic Community (AEC) and other countries who travel to Thailand, by increasing global-level corporate communications to embed the King Power brand in the hearts of travellers from around the world. This comprehensive communication strategy focuses on every stage from the planning to deliver priceless value to customers through holistic and seamless integration of every journey. Through our collaboration with leading travel companies, tour operators, airlines, and online travel agents (OTAs), King Power aims to provide shopping benefits and ultimate travel experiences through promotional activities during every festival.
King Power is also curating new products that cater to consumer trends, with a wide range of leading global products, including travel exclusives, fashion, and lifestyle products, to celebrate its 35th anniversary this year. Moreover, King Power also creates a seamless online shopping experience by utilising technology and innovation to present an omni-channel shopping experience. We offer promotions and new products that meet customer needs on platforms like CLICK AND COLLECT service, allowing duty-free online shopping at KINGPOWER.COM for air travellers, and FIRSTER, which offers a variety of lifestyle products for non-flyers. King Power is committed to developing shopping platforms to accommodate travellers worldwide. - POWER OF PEOPLE : Establishing a new business unit in technology and innovation, “THE ABLE BY KING POWER,” this strategy aims to strengthen the business and lead King Power towards a new possibility and transform the organisation into a future enterprise. By focusing on a deep understanding of customer needs, King Power familiarise its personnel with the use of modern technology and innovation for sustainable growth and moving towards becoming a creator of travel & lifestyle experiences and trusted by customers worldwide.
King Power also conducts business in conjunction with CSR activities through the project “KING POWER THAI POWER”. This includes activities in three key pillars:
- Sports: The “100 Football Pitches for the Power of Thai Youth” project aims to empower Thai children by providing 100 international quality 7-player faux grass football pitches to schools or communities nationwide. The “Million Footballs, Million Power for Thai Youth’s Dream” project distributing 1 million footballs to Thai youth nationwide.
- Music: The international music competition project, “The Power Band,” provides a chance for talented musicians to enter the country’s music industry.
- Community: King Power promotes and develops local community products through the King Power’s outlets worldwide, generating income for communities of over 130 million baht from 143 brands and 6 collections. The Vichai Srivaddhanaprabha Foundation, established to commemorate and continue the legacy and kindness of Vichai Srivaddhanaprabha, the former Chairman of King Power Group, with the mission to create opportunities and possibilities for people in society through three main charity projects: scholarships, incubators for new-born babies, and blood donation.
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