“Factors to stimulate growth are a fiscal policy and government expenditure for infrastructure investment, political stability and recovery of household purchasing power,” he said.

“Supporting factors include expanding revenue from tourism, improving agricultural prices and the reduction of debts incurred by the previous government’s first-car programme.

“Meanwhile, the risks are commodity prices and world economics after [the election of a] new US president, especially in China,” he said.

“We expect to grow each year from our existing stores at least at the same rate as GDP growth, and open new stores to cover all areas of Thailand.

“We are also considering the CLMV markets for future expansion, which is also in line with the Central Group’s business direction,” he added, referring to Cambodia, Laos, Myanmar and Vietnam.

Kamchai said the home-centre business had been confronting a lot of competition but still had opportunities for growth in the future.

CRC Thai Watsadu currently operates three store formats. HomeWorks and Baan & Beyond serve homeowners who are at the stage of finishing projects and decorating, while Thai Watsadu provides products and services to both contractors and homeowners, including at the construction stage.

“We get strong support from Central Group’s synergies on land acquisition, procurement across business units, and sharing of a database through the 1 Card customer-relationship-management system, which has data on around 12 million customers.

“The teams in each function – operations, merchandise and marketing – always share their best practices among the group, so we can learn and develop faster,” Kamchai said.

He said the company planned to open between three and four new Thai Watsadu branches next year in both inner and outer parts of Bangkok.

The cost would be at about Bt500 million per store.

There are currently about 11 Thai Watsadu stores in Bangkok and surrounding areas, and another 31 upcountry.

Meanwhile, the company has no expansion plan for its HomeWorks and Baan & Beyond stores.

CRC Thai Watsadu expects Bt23 billion in total sales this year, a 6-per-cent increase year-on-year, of which Bt20 billion will be from Thai Watsadu stores.

CRC Thai Watsadu yesterday announced that it would join the government’s campaign to stimulate spending during the festive season.

Thai Watsadu, HomeWorks and Baan & Beyond will join the campaign by cooperating with the Commerce Ministry. Promotions will be offered on more than 2,000 items from December 15 until January 4, at 48 branches.

About 42 Thai Watsadu stores have launched a special campaign called “Time of Sharing”, offering discounts of up to 70 per cent. On every purchase of Bt4,000 and up, buyers will get a cash coupon worth Bt200.

For any expenditure of Bt30,000 and up, they will receive a Giant Tech wireless electric drill worth Bt1,490.

Customers with 1 Cards can redeem 600 points to get a cash coupon worth Bt100.