Ambitious Watsons aims for 500 health and beauty Thai outlets in five years
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WATSONS aims to expand its health and beauty chain to at least 500 outlets in five years in Thailand from 340 today.
“We want to be the best and biggest and most innovative health and beauty retailer in Thailand, especially in terms of number of stores, sales and market share.
“We have set a long-term view and investment plan for the future to achieve this ambition,” Rod Routley, managing director of Central Watson Co, said yesterday.
The company expects to increase its store count by 40-50 every year.
It is celebrating its 19th year in Thailand.
Of the 340 existing Watsons, 60 per cent are upcountry and 40 per cent in Bangkok.
The company had 333 stores in operation at the end of last year and expects to end this year with 383.
The new store openings as well as the renovation of existing stores this year will cost about Bt400 million.
“We have once again delivered a strong performance in 2014. Despite a challenging competitive environment, Watsons achieved double-digit sales growth while opening over 40 new stores last year,” he said.
Continued product development and innovation, ongoing network expansion and a strong focus on building customer relationships were key contributors to the firm’s good performance.
In its domestic expansion drive, the company would focus on maintaining a good balance among Bangkok and upcountry locations and key tourist destinations.
“We have also seen a big opportunity in opening our Watsons stores upcountry, especially border cities, due to greater expansion of infrastructure and the development of new shopping malls in the areas,” he said.
Gearing for AEC
The move will also allow the company to brace for the Asean Economic Community by the end of this year, which will draw people from neighbouring countries to Thailand, particularly the border provinces and the special economic zones recently promoted by the government.
The recovery in tourist numbers has also created an opportunity for expansion.
The 333rd Watsons recently opened on Siam Square Soi 3 with over 500 square metres of floor space.
This new and innovative flagship store showcases the company’s full product and service offerings. Its design concept has created an exciting shopping experience and shoppers have responded warmly.
“As the No 1 health and beauty retailer, we have built a reputation for newness and innovation.
“We are now adding more than 3,000 items per year on average and this combined with our very attractive promotional programmes are set to support continued strong growth targeted for this year,” he said.
With its head office in Hong Kong, AS Watson Group is the largest health and beauty retail group with over 11,000 stores in 33 markets around the world, serving over 27 million customers every week.
The company operates more than 4,500 stores in Asia, including the Philippines, Indonesia, Malaysia, Singapore, South Korea, Hong Kong and China.
“Thailand is now at the same rank as Malaysia in the number of Watsons stores being opened in the country,” he said.
Watsons is also highly focused on its digital communications strategy in Thailand.
With over 1 million Facebook fans and over 2 million Watsons cardholders, the company aims to utilise its digital communication channels to keep customers better informed than ever, he added.
