"The number of shoppers visiting Gaysorn in October stood between 70% and 80% of our projection. The situation this year is worse than after the political violence in April 2009 as shoppers returned to their normal levels in just four months then," said deputy general manager Satima Tanabe.

She complained the government's rescue measures were inadequate and were not being covered by international media, which would lift foreign tourist confidence and encourage them to return.

She said the confidence of local customers in the economic recovery had turned around since September.

"However, the stronger baht has drawn local shoppers to shop abroad. The price gap between luxury brands available in Thailand and abroad is as wide as 10%, compared to 5-8% in the past," she said.

Recent widespread flooding has also caused Gaysorn's customers to be more cautious with their spending, looking only for necessary products, she added.

To spur sales, Gaysorn plans to team up with the Ratchaprasong Square Trade Association to launch a stimulus package aimed at tourists soon.

The allies are also launching the Pure Reward Campaign from Nov 17 until Jan 5, offering discounts and prize draws. It is aimed at Thai customers, who now represent about 70% of Gaysorn's total customers, up from 60% last year.

As consumer demand and purchasing power increases at year-end, the company is confident this campaign will increase sales volume at tenant shops by 10%.