Amway shakes off rocky Q1 and eyes Bt17 billion in sales
MAJOR direct-selling company Amway (Thailand) is hopeful of meeting its revenue target of Bt17 billion this year, up from Bt16.8 billion last year, despite a slight sales drop early this year because of the unfavourable economic and political climate.
Amway managing director Kittawat Ritteerawee said that the company had seen positive economic signs, including the return of consumer spending in the past few months.
He said another positive sign was the higher number of people applying to be Amway independent business owners during the past couple of months after a decline in the number early this year.
Early this year Amway’s main customers, those with high purchasing power and high brand loyalty, were not in a spending mood due to the economic and political situation.
But despite that, Kittawat |said Amway took only a slight drop in terms of its main products including supplementary foods.
He added that if there were no major issues for the remainder of the year, such as major flooding, the company believed it could achieve this year’s revenue target while the political stability continued.
The company also planned to launch promising new products and promotional campaigns in an attempt to boost sales in the second half of the year.
Pakapan Leevutinan, the new president of the Thai Direct Selling Association, estimated that the direct-sales industry |this year would grow between |5 per cent and 7 per cent to around Bt70 billion, thanks to |the economic recovery and the improving political atmosphere.
She said that the industry could grow 10 per cent next year, if these favourable conditions continued and the new government was set up.
