Development a waterfront retail market for self-sufficiency using community-based capital of the Lat Phrao canal area, Bangkok

Abstract

This research’s the objectives are 1) To explore community funds for the development of the waterfront retail market in the area along the Lat Phrao Canal 2) To analyze the potential and business opportunities of the waterfront retail market in the area along the Lat Phrao Canal 3) To create simulation model of a waterside retail market for self-reliance in the area along Lat Phrao Canal with community participation. Use a mixed methods research. Data was collected between 1 January 2023 - 31 March 2024. The quantitative research instrument was a questionnaire from a purposive sampling of 400 people. The qualitative method used focus group interviews from a sample of 50 people by a purposive method. From the research it was found that 1) Every area has community capital that can create added value and has uniqueness in each area which are the basic factor leading to the establishment of a waterfront retail market. 2) Potential and opportunity for establishing a riverside retail market found that the community has factors that match consumer needs, community location can attract people's interest and also get ease of access and it supports being a tourism market. It was found that to establish a potential market should include 11 basic factors are location, facilities, savory restaurant, sweet restaurant, beverage shops, fruit shops, consumer goods stores, massage services, transportation services, entertainment and performing arts services and travel and activity services. 3) The simulation model uses a participatory research method among the sample group using 11 basic factors as criteria and be taken into consideration in conjunction with announcements and regulations related to the establishment of markets in Bangkok and district offices. Therefore, a model of a riverside retail market was created which is located in the Rama 9 lake area connecting both land and water transportation that meets consumer needs and has the potential to attract people to spend causing economic circularity and be self-reliant from available community capital.