SET-listed retail and real estate development companies Central Pattana (CPN) and Central Department Store Company (CDS) have earmarked 600 million baht to roll out a nationwide Lunar New Year campaign to stimulate spending and foot traffic in the first quarter.

The campaign, titled “Great Chinese New Year,” will run from January 30 to March 1 at Central Shopping Centers and Central Department Stores nationwide, including Esplanade Ratchada.

The promotion features large-scale festive decorations, cultural performances and themed markets and is designed to create an immersive experience for shoppers across the country.

CPN chief marketing officer Natakit Tampoonsintana said the company intends to level up its festive events each year, making them bigger and more appealing, targeting middle- and high-income customers who continue to have purchasing power despite widespread economic concerns.

“The Lunar New Year is an important occasion for Thai consumers. Deep-rooted beliefs and cultural traditions continue to provide spiritual support and drive spending during this period,” he said.

The highlight of the campaign is Tianma Tianma, a majestic 10-meter-tall celestial horse that stands in front of Central World, symbolizing good fortune and prosperous new beginnings. Natakit said the collection of sacred deities will be exhibited at 30 central malls across the country, including Central Korat and Central Hat Yai.

He said the campaign is expected to increase CPN Mall’s traffic by 25-30% compared to normal periods.

Natakit said he expected several factors to lift retail sentiment in the first quarter, including the seasonality of festivals, the continued recovery in tourism, consumers’ strong cultural attachment to Lunar New Year traditions, and the upcoming political elections in Thailand.

The role of foreign tourists is expected to increase, especially in tourist destinations such as Chiang Mai, Phuket, Pattaya, and Koh Samui. He said tourist malls such as Central World, Central Pattaya, Central Village, Central Phuket and Central Chiang Mai Airport have become big attractions, supported by campaigns on Xiaohongshu and Chinese e-wallet integration to capture festival spending.

CDS Chief Marketing Officer Rubisula Chirathivat said special promotions for tourists will be arranged at all Central department stores during the campaign period.