Magazines Archives - 2007 June
Watsons favours upgrading technology over opening stores
RATHER than open new outlets, Central Watsons Co ltd of Thailand intends to spend more than 300 million baht (US$9.15 million) on upgrade this year. The retail group has set aside 140 million baht to improve its IT systems, with the remaining budget going into staff training, consumer research, A&P campaigns and store expansions.
This shift in business strategy can be seen as a bid to focus more on its 600,000 loyal shoppers, mainly women and university students, instead of seeking to expand its customer base.
Nuanhan Jayanama, Central Watsons marketing controller, said that the companys research has shown more and more working women seekina value for money. The retail chain has also raised its A&P budget by 20%. This is aimed at winning over customers who are spending less amid economic difficulties, she added.
Central Watsons will also add about 10% more to the current 500 items in its private-label range as well as increase the number of exclusive items and offer more products for men, said its general manager, Toby Anderson.