As technology continues to advance at a rapid pace, it is essential for the retail and service sectors to remain vigilant, consistently seeking knowledge and adapting to uncover new avenues for delivering exceptional experiences that resonate with the lifestyles of consumers in the digital era.
Central Group, a prominent retail and service enterprise in Thailand, understands the critical need to cultivate leaders who are not only innovative but also adept at effectively harnessing the advantages of innovation and technology within their operations. In pursuit of this goal, Central Group assembled a delegation of 28 executives from its subsidiaries, including Central Retail Corporation Public Co., Ltd. (CRC), Central Pattana Public Co., Ltd. (CPN), Central Plaza Hotel Public Co., Ltd. (CENTEL) and Central Retail Vietnam. This group was set to explore retail and service business practices, property development, and hotel management through engagements with 9 leading Chinese companies specializing in Retail Technology, Omnichannel strategies, Data Management, and New Platforms, in the economically and technologically vibrant cities of Shanghai and Hangzhou. These locations serve as significant influencers in global trade.
Miss Alisa Thasanon Head of Executive Development and Compensation of Central Group, stated: “The study and practical experiences undertaken by the Thai and Vietnam’s executives were integral to the Executive Development Program (EDP), which was in its fifth batch. This program aims to equip executives with the skills necessary to navigate the swiftly evolving business landscape and to refine their leadership capabilities for more demanding roles. Key objectives of the program included delving into AI and digital innovations for real-world application, understanding Customer Journey Experience in product sales and customer service to boost sales and create a competitive edge in the Chinese market, comprehending the E-commerce and Live Commerce ecosystem as part of an Online to Offline (O2O) business model, recognizing the significance of data in analyzing and fostering growth in the Chinese market, and establishing collaborative networks with emerging platforms to broaden future business prospects.”
The scope of study for the executive delegation from Central Group encompasses three key sectors:
1. Retail : China has showcased the effectiveness of digital platforms in engaging customers, exemplified by applications that consolidate multiple services into one interface and social media platforms that prioritize product and service evaluations. These tools are essential for drawing in customers by showcasing product details, promotional offers, and “unmanned stores” that leverage AI technology for inventory management and consumer behavior analysis. This leads to tailored product recommendations and promotions, ultimately boosting sales potential and improving customer satisfaction.
Notable companies visited include:
- Meituan Platform : A versatile service provider offering food delivery, hotel reservations, and travel options.
- Bytedance : A tech firm known for its AI-driven content platforms, including the widely popular TikTok for short video creation and sharing.
- Huawei : A prominent Chinese technology leader specializing in communications and information technology.
2. Properties : The management of landscapes in China adeptly merges modern advancements with environmental stewardship and traditional cultural elements. This strategy promotes the integration of cutting-edge technology while prioritizing sustainability, ensuring a harmonious balance between urban growth and rural preservation, which enhances the appeal and cultural significance of Chinese tourist destinations.
Prominent companies visited include:
- Swire Properties : A firm engaged in the development and management of commercial real estate, encompassing retail spaces, hotels, and residential properties.
- Shui On Group : A distinguished real estate developer recognized for its large-scale urban development and innovative projects.
- Leading shopping center such as Taikoo Hui, Taikoo Li Qiantan, Plaza 66, Kerry Centre, 1000 Trees Mall, IFC Mall, and Xintiandi Shopping Mall.
3. Hospitality : The hotel sector in China utilizes technology to improve guest experiences, including the implementation of facial recognition systems to streamline check-in procedures. The technological progress observed in China is driven not only by innovation but also by a mindset of willingness towards embracing new ideas and persistently seeking out fresh methodologies.
Examples of companies visited include:
- Flyzoo Hotel : A technologically advanced hotel that exemplifies intelligent design.
- Meituan Hospitality : A prominent hotel booking platform with significant growth potential.
Following The Immersion Program, executives conducted comprehensive presentations of their observations and analyses of their insights, promoting a valuable exchange of experiences among colleagues. This process aimed to advance and improve existing products and services in Thailand, Vietnam, and other countries by harnessing innovation and technology to secure a competitive edge in the market. The primary objective was to deliver outstanding customer experiences and satisfaction for Chinese, Thai, and tourist purchasers. Key initiatives included providing exclusive perks to entice Chinese visitors, utilizing AI to enhance operational efficiency and analyze customer data, organizing customer information to target high-spending demographics, building partnerships with startups, and refining marketing strategies to align with the changing preferences of modern Chinese tourists, etc.
Central Group is dedicated to enhancing leadership capabilities to navigate complex business transformations, encompassing strategic management, human resources, innovation, and technology, all grounded in sustainable growth principles. The emphasis is on practical applications and real-world experiences, promoting collaboration across business units to propel organizational advancement, with a steadfast commitment to customer satisfaction at the forefront.
