"Royal House" sees an opportunity to expand its customer base by developing new home designs that cater to the needs of the Millennials, focusing on modern homes that fit compact land and can be customized. They are set to launch new house designs in Japanese and Modern Tropical styles at the Home Builder & Materials Focus 2019 event from March 21-24, offering significant promotions including a Daikin air conditioner valued at over 60,000 baht. The company aims to increase its Millennial customer base to 10% over the next five years, tapping into local markets across the country through Local Marketing.

Mr. Kosol Kowisuth, Managing Director of Royal House Co., Ltd., a home construction company with over 30 years of experience and the most branches in the country, stated that while the primary customer base has traditionally been individuals aged 40 and above, the Millennial generation (born between 1980-1994, aged approximately 25-39) is expected to become a significant new customer group influencing the home construction business. The company is therefore looking to expand its customer base to this demographic by developing home designs that meet their needs.

“The Millennial market may not be a rapidly growing segment for the home construction business, but it is a market we must engage with, as there are many Pain Points regarding housing needs that the home construction industry can address,” Mr. Kosol said.

The Millennial demographic in the housing market can be divided into several groups: 1. Individuals living alone seeking housing for work in the city, who tend to prefer condominiums; 2. Those starting families looking for compact homes; 3. Families wanting homes for three generations: themselves, their parents, and their children. Groups 2 and 3 are expected to be the primary customers for Royal House.

Mr. Kosol added that Millennials wanting to own homes often face several challenges: 1. Lack of modern home designs; 2. Existing home designs often do not fit the size of the land, as Millennials typically have smaller plots than previous generations; 3. Subdivisions and condominiums are often designed as ready-made products that cannot be customized in terms of materials or details. Therefore, the company will focus on designing new, modern homes that fit compact land and highlight the flexibility of the home construction business, allowing for adjustments in function, materials, and specific details to meet customer needs.

From March 21-24, the company will unveil two new house styles: Modern Japanese and Modern Tropical, totaling four designs at the Home Builder & Materials Focus 2019 at the Queen Sirikit National Convention Center.

“Millennials have adopted a lot of cultural elements from Japan, and they also prefer residences that evoke a sense of nature. Therefore, we designed these two styles to meet those needs, considering both interior and exterior designs that are modern, functional, and stylish. The Japanese-style homes will feature onsen-style bathrooms. These four designs target both the Millennial demographic and our existing customer base,” Mr. Kosol explained.

For those who decide to book at the Home Builder & Materials Focus 2019, the company offers a special promotion with discounts of up to 12% along with a Daikin air conditioner valued at up to 60,000 baht. The booth will also showcase other house designs from Royal House and provide a high level of customer satisfaction through a Multi-Sensory strategy, continuing from last year, including aromatic diffusers from ORGANIKA HOUSE to create a homely atmosphere, serving desserts from BRIX Dessert Bar for a relaxed vibe, and featuring a mini-concert by Petit from The Voice 4 on Saturday, March 23, from 2:00 PM to 3:00 PM.

The Millennial market is expected to create long-term opportunities, not a rapidly growing market in the short term. The company aims to grow its Millennial customer base to 10% of its total customers within five years.

Mr. Kosol further stated that in addition to targeting the Millennial segment, another focus for the company this year will be provincial markets, employing Local Marketing strategies directly in major cities, such as outdoor advertising (Out of Home Media) and community radio spots.

“The provincial market requires different approaches and marketing strategies compared to Bangkok. While the provincial market is growing slowly, it is growing with potential, as there are still many people with vacant land available for residential construction. With 12 branches covering major cities nationwide and nearly 30 years of construction experience in almost every province, Royal House will continue to drive its business in the provinces to help consumers find quality housing,” Mr. Kosol concluded.

In 2018, the company achieved sales of 1.12 billion baht, exceeding the mid-year target of 1 billion baht. For 2019, the company has set an initial sales target of 1.12 billion baht to align with various political and economic factors.

Royal House Co., Ltd. has been in the home construction business for over 30 years under the slogan “Building Homes with Intelligence,” with more than 12 branches nationwide and over 5,000 homes constructed. The company operates across multiple segments, from homes priced below 5 million baht to those over 100 million baht.

Thank you for the information from www.royalhouse.co.th