Sungei Wang Plaza bullish with tourism uptick this year
08 Jan 2023 04:10pm
Sungei Wang Plaza has also been tracking the progress in terms of mall occupancy and spending rate, both of which have been on an upward trend again. - Photo from Wikipedia
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KUALA LUMPUR - Sungei Wang Plaza expects consumers’ spending power to increase by 20 to 30 per cent in 2023, buoyed by the improved tourism industry especially after the reopening of China.
Sungei Wang Plaza manager marketing communications and innovation Stephen Ho said the shopping mall has so far seen its sales improve within the range of 30 to 50 per cent and it expects a much better performance with better occupancy in the mall.
"There are more new cafes, restaurants and beauty tenants to attract our customers, hence we believe this year will be a positive year for us,” he told Bernama after the media launch of a prosperous year of reunion.
Ho said the mall is going to redeem itself in line with the improved economy and also take advantage of the festive season (Chinese New Year and recently Christmas Day).
"We have undoubtedly increased the festive season’s redemption offers, as evidenced by the fact that Chinese New Year redemptions have been fully redeemed every day, and we believe it's a positive outlook for 2023,” he said.
Sungei Wang Plaza has also been tracking the progress in terms of mall occupancy and spending rate, both of which have been on an upward trend again.
"We have several new tenants and it's been very positive, unlike the outlook previously,” he said.
Ho said although there is a lot of competition from other shopping malls, the company is confident the mall can compete because Sungei Wang Plaza is in a strategic location to attract shoppers.
"We have organised quite a number of events to promote Sungei Wang Plaza and we feel the mall is still relevant today as it is strategically located in the heart of Bukit Bintang,” he added.
He said Sungei Wang Plaza is planning to target more customers, especially youths and young families this year.
The shopping mall is preparing to be more competitive in the market by signing a couple of local IPs such as cartoon characters that will introduce more new contents, particularly in the first and second quarters, that target specific segments.
Sungei Wang Plaza welcomes more local and foreign retailers to open shop at the shopping mall, particularly food and beverage retailers such as Richiamo, Kakatoo and others to remain relevant and compete with other shopping malls. - Bernama
