Anticipated Developments In The Economy To Assist Health And Beauty Retailers Prosper In Thailand
Posted on 07 September 2017 by KenResearch Healthcare,
In 2016, health and beauty specialist retailers in Thailand have been seen recording a moderate value growth despite the economy facing a continued slowdown in the recent years. The consumers are becoming increasingly exposed to social media trends through internet and other sources. The urbanisation of society has shifted the focus of the consumers towards improving their personality and as a result they are interested in buying superior quality health and beauty products.
Many new products are available for men as they are also being targeted by the companies. Many new innovations are taking place in the sector which has led to introduction of new products continuously in the market throughout the year. The population in Thailand is ageing and this has helped in expanding the retailers sector. Thailand accounts for the largest market share in Asia for organic cosmetics and is expected to grow in future.
According to the report, “Health and Beauty Specialist Retailers in Thailand”, the hypermarkets, supermarkets, convenience stores, discounters, health and beauty retailers, mixed retailers, durable goods retailers, leisure and personal goods retailers have for a long been some of the distribution channels used by the companies. Apart from these channels, the stores also engage in non-store retailing through distribution channels such as home shopping, direct selling, vending, internet selling etc. The two largest distribution channels are drugstores or pharmacies and beauty specialist salon. They contribute to more than half of the total sales. Some of the types of specialist retailers include chemists or pharmacies, beauty specialist retailers, optical goods store, drugstores or parapharmacies and other healthcare specialist retailers.
The market leader in the health and beauty specialist retailers was Central Watson in 2016. It has around 400 outlets across the country but is planning to open more stores in future which will further strengthen its market position. Boots, a pharmacy company, is another leading company operating in the market. Central Watson has incorporated internet retailing in its distribution channel recently whereas Boots does not sell its products online. This gives a competitive edge to Central Watson. Also, the prices of Central Watson are lower than Boots and it also provides several attractive special promotions which help in increasing sales. There is a difference in the membership cards that both these companies provide to their consumers. Watson’s member card offers instant discounts to costumers while the Boot membership card provides discount only when certain points have been accumulated by the consumer.
The health and beauty specialist retailers in Thailand are showing signs of growth which is expected to continue in future. The department stores and shopping centres are expected to expand in number in the near future in major cities and urban areas especially in the grocery sector. Many stores which offer a unique concept to the customers show a huge potential to grow. Internet retailing is the future of the health and beauty retailers in Thailand. It has becomes one of the most common methods to sell the products as well as it helps in marketing of the products by increasing demand for offline stores by driving the consumers to the them. It will also help in connecting with the non-urban consumers who have the potential to become key purchasers. This aspect of the industry is growing rapidly and thereby the future of the market is comparatively brighter in the coming years.
To know about the research report: