Singha Corporation enlists South Korean boy band NTC as presenters to boost sales of Masita seaweed snacks.
Singha Corporation, which sells Masita seaweed snacks, is competing head-on with arch rival Tao Kae Noi by hiring South Korean boy band NCT to promote the product and triple sales over the next five years.
The move is part of group chief executive Santi Bhirombhakdi’s policy to expand the company’s food and drinks business for long-term sustainability.
Singha yesterday announced it hired NCT to promote its snacks among teenagers and working people aged 12-25.
Singha also plans to expand its snack business overseas by focusing on China as a priority market, said Titiporn Thammapimookkul, marketing director for food and drinks.
Late last week, Taokaenoi Food & Marketing, the maker of Tao Kae Noi seaweed snacks, introduced Got7, another South Korean boy band, as the brand presenter to promote its products in Thailand.
Taokaenoi also plans to aggressively boost its snack business in China this year.
The efforts by the two seaweed snack brands have sent waves through Thailand’s seaweed snack market, which has otherwise seen slight growth in recent years.
Mr Titiporn said Singha will use NCT to promote its products in various capacities, such as having meet and greet events with Thai fans and having them participate in other marketing activities.
“By using Korean superstars to promote our products, the brand awareness for Masita seaweed snacks will be strong, helping us better reach our target customers over the next five years,” he said.
With NCT as the brand presenter, the company projects the market share of Masita will rise to 20% this year.
Thailand’s seaweed snack market was worth 2.6 billion baht last year. The Tao Kae Noi brand is the market leader in the seaweed snack segment, controlling a 60% market share, followed by Masita at 17% and Seleco (4-5%).
Last year, sales of Masita seaweed snack reached 500 million baht. That figure is expected to reach 1.6 billion baht within the next five years.
Singha has plans to seriously expand its seaweed snack business abroad this year, focusing mainly on China. The company is interested in the Chinese market because it has huge potential, as per capita consumption remains low.
At home, the company has developed a Masita seaweed flavour to serve the tastes of Chinese customers in tourist destinations.
Last year, Singha’s food and drinks business generated 15 billion baht in sales and is expected to increase by 8-10% this year.