Amway aims to boost sales of dietary supplements
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Amway aims to boost sales of dietary supplements

The Amway Botanical Research Centre in Wuxi in China's Jiangsu province.
The Amway Botanical Research Centre in Wuxi in China's Jiangsu province.

Amway Thailand expects flat growth for the direct sales industry this year, but the company aims to increase its sales of dietary supplements as more consumers are health-conscious following the pandemic.

"The sluggish economy will inevitably affect consumer purchasing power. However, increasing consumer awareness of health and wellness should allow for growth in the dietary supplement market," said Tossaporn Nisthanon, managing director of Amway Thailand.

Many companies and entrepreneurs see an opportunity in the dietary supplement market, but Mr Tossaporn said he is unfazed by newcomers.

He said one of Amway's strengths is its continuous R&D for its products.

Moreover, the company has a strong bond with its suppliers, which gives the company an advantage over new competitors.

"This business has an entry barrier. We have the potential to produce products from our organic farm, with more than 100 suppliers worldwide," Mr Tossaporn said.

Amway views China as an ideal location to expand its R&D efforts.

In 2016, it opened the Amway Botanical Research Center in Wuxi, China, which is the company's first research and development facilities with a focus on studying the health benefits of organic traditional Chinese medicine for potential future use in its health and beauty products.

Mr Tossaporn said Amway is the largest direct sales company in the world, as well as the largest in Thailand.

Thailand is the fifth-largest global market for Amway, trailing China, the US, South Korea and Japan.

He said Thailand's direct sales industry was worth roughly 56 billion baht in 2023, down 6% from the year before.

"Last year many small players went out of business," said Mr Tossaporn.

In 2023, Amway Thailand's total revenue was more than 18.7 billion baht, with 31% market share.

To enhance its competitiveness in the digital era, the company allocated 1 billion baht for investments in online and offline platforms for ecosystem fulfilment from 2020 to 2024.

At present, online sales account for around 55% of revenue.

Mr Tossaporn said he expected the overall value of Thailand's direct sales market to likely decrease this year, but the company aims to raise its sales by launching new dietary supplement products under the Nutrilite brand, and also beauty products, water purifiers and air purifiers.

"The company wants its sales to reach 30 billion baht a year within five years by providing personalised health solutions amid the growing global trend on health and wellbeing," he said.

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