Watsons Thailand, the operator of Watsons health and beauty stores, plans to spend 630 million baht to expand the business this year.
Pasitt Munkongkuntivong, the company's general manager, said the spending is mainly to open 50 new Watsons stores across the country, as well as renovate 75 existing stores under the new concept. The company also wants to develop its e-commerce business, applications, IT and logistics services.
Twelve new stores have already opened. The company aims to open a combined 550 Watsons stores by the end of this year.
"No matter the state of the economy in the past decade, our business has continued to grow every year and our parent company is confident about maintaining our investment here because of the country's decent infrastructure and good operating results," Mr Pasitt said.
He said buyers' spending power at Watsons in the first quarter of this year fared better than earlier expected.
Consumer sentiment is good and people have responded well to the company's promotions and new products introduced to the market, Mr Pasitt said.
"In 2019, we are committed to bridging the online and offline shopping experience to customers to comply with the digital era," he said.
Nuanphan Jamanama, the company's customer director, said a new concept store called Generation 8 (G8) recently launched at Iconsiam, The Mall Bangkapi and Siam Square. Watsons G8 relies more on technology to enhance the customer experience.
The highlight of G8 stores is StyleMe, an augmented reality (AR) technology that offers virtual makeup services and product recommendations.
Try Me provides an automatic presentation of product information via video clip, while the Makeup Studio is a walk-in beauty corner offering trial products aimed at enhancing customers' shopping experience.
As the rise of social media makes consumers more active on online shopping platforms, this year the company will make a bold step in improving the digital experience, Mr Pasitt said.
According to Commerce Ministry data, Watsons in Thailand reported revenue of 14.7 billion baht and a net profit of 1.65 billion baht in 2017.