Targets 500 stores by 2012
Watsons Taiwan today celebrates its another landmark store opened in Taipei's XiMen area, marking an important milestone of the Company's continuous innovation in upgrading shopping environment aspiring to exceed customers' expectation.
Watsons Taiwan plans to open 30 new stores and upgrade another 220 with estimated NT$500 million capital investments during 2010. Watsons Taiwan also proposes to invest additional NT$200 million in system up-gradation and technology to be able to serve the customer better. With clear focus on innovation and customer's shopping experience, Watsons Taiwan will maintain its leadership position in health and beauty retail in the market with over 430 stores next year.
Krish Iyer, Managing Director, Watsons Taiwan, who has been there for over 2 years since October 2007, said, "For a brand which has been in the market for more than 20 years, it is very important to maintain and enhance its vitality being the market leader." Therefore, Krish is very focused on customers-centric initiatives and continuous innovation using the 6-pillar approach comprising of Product, Promotion, Environment, Advice and Information, Service and Communication (including CRM).
In 2009, Watsons Taiwan has opened 8 new stores, completed 180 store upgrade and refit, introduced more than 180 new brands supported by solid category strategy, and doubled its number of loyalty members to over 2 Million. It has also offered more than 50,000-hour of training to our staff, sharpened its marketing strategy and mix, and improved stock efficiency by over 15%.
Despite the global economic recession, Watsons Taiwan managed to maintain its momentum with single-digit comparable growth rate. Some key strategic core categories, such as medicated skin, health food, men's and non-demo cosmetics have enjoyed double-digit growth up to 40%.
Looking forward to 2010, Krish further said, "After a difficult 15 months of global recession, 2010 will mark the beginning of recovery. For Watsons Taiwan, it will be a period of growth resulting in gain in market share as well increase in customer numbers".
For the market potential, Krish commented, "Taiwan is a mature market and the Taiwanese customers are very sophisticated customers. I expect the per capita expenditure on Health and Beauty to increase next year. This market continues to offer us good potential for high growth in certain categories. I am confident that Watsons will maintain its market leadership through our innovation in store environment and product offers, and our understanding of customer needs and tailor-made target communications." By 2012, Watsons Taiwan plans to have 500 stores.
