Neo Corporate reveals its aggressive growth strategy to dominate the market with premium mass liquid soap products, with over 100 innovative formulas that meet every consumer’s need. The company is expected to reach the revenue target of 2,015 million baht this year, and to become the market leader by 2026.
- Neo Corporate Public Company Limited, a leading Thai fast-moving consumer goods company with over 25 years of expertise in liquid soap products, is prepared to undertake full-scale marketing in the liquid soap market, which has a potential value of up to 8.6 billion baht.
- The full-scale marketing strategy involves highlighting innovation, utilizing the strengths of 3 top brands — BeNice, D-nee, and TROS — and expanding the company’s liquid soap product portfolio by focusing on the premium mass segment, which is currently growing due to modern consumer trends.
- The company’s expectations are not only to reach a new high of over 2 billion baht this year but to become the market leader in the liquid soap market by 2026.
- The company has its own research and development center for cooperation with multiple institutions and universities, including Mae Fah Luang University and Walailak University.
Nitchamon Thakolsri, Deputy Chief Executive Officer of Business Innovation, Neo Corporate Public Company Limited, revealed that the liquid soap market’s growth has exceeded that of the bar soap. This market value is approximately 8.6 billion baht, with 9% increase from the previous year. The market segments include: 57% contribution for beauty group which emphasizes scent and freshness, 18% for baby, 17% for skin health, and 4% for men.
“Premium mass is one of the increasing segments, reflecting the shift in consumer lifestyles towards a greater focus on quality of life. As a result, consumers are willing to pay more for products that are of better quality than ordinary products Liquid soaps, for instance, consumers are looking for more than just cleaning efficacy and tend to enjoy having several
bottles of liquid soap formula in their bathrooms to choose from to suit their daily preferences. The post-COVID-19 market for liquid soap is now more competitive as a result of this consumer behavior. Apart from price war, brands also compete by diversifying into new market segments with innovative products”, Nitchamon said.
She further stated “The constant change in consumer lifestyle has created opportunities that align with the company's strategy to focus on its premium mass product line with launch plans throughout the year to emphasize its leadership position with innovative products tailored for each age groups. The goal is to develop products that are truly satisfy and meet the needs of consumer based on consumer insights regarding packaging, fragrance preferences, and natural active ingredients.”
“This year, Neo Corporate plans to penetrate the premium mass segment of liquid soap market with 3 brands: BeNice to target beauty and skin health segments; D-nee for baby, kids, families, and elderly segments; and TROS for men's segment. With this strategy, not only a new high of 2,015 million baht, 20% growth, is expected this year but Neo also aim to become the market leader in the liquid soap market by 2026.”, Nitchamon added.
“Neo Corporate’s performance in liquid soap market has been exponentially growing over the past three years, with sale contributions of 65% BeNice, 33% D-nee, and 2% TROS. The key growth driver, besides from having strong brandings, is that each brand have developed their products to serve the need of their targeted consumers as well as having suitable distribution.
This year marketing campaigns have been done through brand presenters which includes Bella-Ranee Campen for BeNice, who is not only the brand real loyalty user but also took part in selecting scent for some of the products D-nee has chosen the family of Push Puttichai, Jooy Warattaya and their baby PJ as brand presenters to represent the modern family who select only the best products for their child, while also letting their child explores new things. TROS plans on promoting its premium mass liquid soap product line, under the sub-brand, TROS PRO”, Nitchamon said.
“The challenge for premium mass market is the consumer expectations that are constantly rising and shifting. Therefore, the company is very active on R&D in order to launch products that serve the unmet needs of targeted consumers in a way that the competition cannot. In addition, all products are tested thoroughly to ensure that every launches will be successful because we believe that only great products can sell themselves”, Nitchamon concluded.
With continuous development, Neo Corporate has now owned over 100 liquid soap formulas with exceptional innovations includes Blooming Bomb technology which provides long-lasting scent on the skin up to 24 hours Furthermore, numbers of formulas also contain over 95% organic ingredients, 99.99% anti-bacterial properties, or formulas for men that are easy to rinse off but does not leave the skin too dry. Moreover, baby liquid soap formulations are not only mild to retain skin moisture, also great for elderly, with organic ingredients but some also contain calming scent technology to aids newborns with sleep.
With over 10 years of work experiences in both R&D and commerce, with education background in biotechnology, Nitchamon Thakolsri is confident that Neo Corporate will achieve its commitment to be one of Asia’s most innovative FMCG companies that aims to uplift consumers’ quality of life via product innovations under the slogan “Uplift the Essentials for Everyday Betterment”.
