Amway bullish on growth of PHL business
DIRECT SELLING giant Amway Corp. is bullish on the growth of its Philippine business, as it opened its first “experience center” in the country.
Amway Corp. Market Innovation Manager Len Iakiri said the company invested $1.5 million in My Amway Place since the Philippines remains one of its fastestgrowing markets.
“[Amway defines this market] as one of the critical, exciting places to be in our entire global business. This is one of the fastest growing markets for Amway throughout the world so [ this project] is a big deal,” Mr. Iakiri said during a press briefing in Makati City on Wednesday.
Aside from the corporate headquarters, My Amway Place also has a cafe, a shop, and a training and events area.
Amway Philippines Country Manager Maria Elenita P. Olmedo emphasized the importance of opening a retail store since Filipinos still view shopping as a “see-touch-and-feel” experience.
“We found that even if shopping on an online basis becomes popular, the customers still want to come to take a look at the product, and our ABOs (Amway Business Owners) would want to demonstrate the products as well. I think the physical experience is still part of our total reputation of the product,” she said.
Ms. Olmedo noted the Philippines is one of the best markets to test new products due to its young population and openess to new technologies.
“[ I] f you want to test some programs that are going to be relevant to Amway in the next 50 years, the best way to test this is in a market that is young and digital-savvy, and of course the Philippines is one [ location] that would be a really good pilot for experiences,” Ms. Olmedo said.
In June, Amway introduced a Korean skincare line Miyu in the Philippines. If the product is successful, Amway may launch Miyu in Indonesia and some Latin American countries.
Ms. Olmedo added the direct selling company is open to future tie-ups with local companies after its partnership with local coffee producer Figaro for its Achievers premium coffee and cocoa mix.
To complement the “customer experience,” Amway partnered with logistics company LBC Express, Inc. for a money-back-guarantee scheme if the customers are unsatisfied with Amway’s products.
Asked about the company’s growth for this year, Ms. Olmedo said Amway Philippines is looking at “double digit right now.” —