The Times Australia
News From Asia

.

A.S. Watson CEO Speaks about ‘Adaptive Change’ at Consumer Goods Business Global Summit in Kyoto

HONG KONG SAR - Media OutReach - 12 June 2023 - Experts participated in the plenary session, "The World is Changing, Consumers are Changing - We Need to Change Too" at The Consumer Goods Forum (CGF) Global Summit 2023 at Kyoto, Japan.



Caption

Malina Ngai, Chief Executive Officer of A.S. Watson (Asia & Europe) joined panelists CGF Board Co-Chairs Frans Muller and Dirk Van de Put to address the global change agenda for retailers and manufacturers.

Despite the unprecedented challenges posed by the pandemic over the past few years, A.S. Watson Group, the world's largest international health and beauty retailer, has continued to expand and grow. Compared to the year 2019 (prior to the pandemic), the company has increased its global presence by adding three new markets, namely UAE, Qatar, and Saudi Arabia, bringing the total to 28 markets, and has expanded its global store network to over 16,100 stores. Moreover, A.S. Watson's global member base has grown significantly from 137 million in 2019 to 148 million this year. The resilience is a testament to A.S. Watson's agility and adaptability in response to a rapidly changing world and customers.

"First of all, we should see changes as new opportunities. Today, consumers are becoming more emotional, more unpredictable, more educated, and more socially conscious. They want more choices, more deals, and have less time and loyalty," Ngai said.

"It's becoming very complex to run a retail business because it's not only about trying to win customers' share of wallet but also share of time. Time is a new currency. With the constant change in their behaviours, retailers and manufacturers need to adapt accordingly and with pace."

Caption

Ngai explained the way to approach change, "Using the Chinese words for business '生意' (Sheng Yi), it incorporates the concept of customer centricity. The first word 生 (Sheng) means lively, we need to be flexible and not rigid. The second character 意 (Yi) is made up of three parts: 立 – Determination, 日 – Every day and 心 – Think from Customers' Perspective.

Ngai believes that to create sustainable growth, adaptive change is required and business needs to be determined to work tirelessly every day, listen to and meet customer needs.

"With sustainability being high on customers' mind, businesses need to align their purpose with the customers' values so that we can jointly create a more positive impact on the planet."

Concluding her speech, Ngai urged all companies, big and small, from all geographic locations to work together towards sustainability, "The subject of sustainability is far-reaching and requires collective efforts between retailers and manufacturers to create significant impact."

Hashtag: #ASWatson

The issuer is solely responsible for the content of this announcement.

Times Magazine

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an online presence that reflects your brand, engages your audience, and drives results. For local businesses in the Blue Mountains, a well-designed website a...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beauty On Saturday, September 6th, history will be made as the International Polo Tour (IPT), a sports leader headquartered here in South Florida...

5 Ways Microsoft Fabric Simplifies Your Data Analytics Workflow

In today's data-driven world, businesses are constantly seeking ways to streamline their data analytics processes. The sheer volume and complexity of data can be overwhelming, often leading to bottlenecks and inefficiencies. Enter the innovative da...

7 Questions to Ask Before You Sign IT Support Companies in Sydney

Choosing an IT partner can feel like buying an insurance policy you hope you never need. The right choice keeps your team productive, your data safe, and your budget predictable. The wrong choice shows up as slow tickets, surprise bills, and risky sh...

Choosing the Right Legal Aid Lawyer in Sutherland Shire: Key Considerations

Legal aid services play an essential role in ensuring access to justice for all. For people in the Sutherland Shire who may not have the financial means to pay for private legal assistance, legal aid ensures that everyone has access to representa...

Watercolor vs. Oil vs. Digital: Which Medium Fits Your Pet's Personality?

When it comes to immortalizing your pet’s unique personality in art, choosing the right medium is essential. Each artistic medium, whether watercolor, oil, or digital, has distinct qualities that can bring out the spirit of your furry friend in dif...

The Times Features

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board recently proposed a US$1 trillion (A$1.5 trillion) compensation plan, if Musk ca...

NSW has a new fashion sector strategy – but a sustainable industry needs a federally legislated response

The New South Wales government recently announced the launch of the NSW Fashion Sector Strategy, 2025–28[1]. The strategy, developed in partnership with the Australian Fashion ...

From Garden to Gift: Why Roses Make the Perfect Present

Think back to the last time you gave or received flowers. Chances are, roses were part of the bunch, or maybe they were the whole bunch.   Roses tend to leave an impression. Even ...

Do I have insomnia? 5 reasons why you might not

Even a single night of sleep trouble can feel distressing and lonely. You toss and turn, stare at the ceiling, and wonder how you’ll cope tomorrow. No wonder many people star...

Wedding Photography Trends You Need to Know (Before You Regret Your Album)

Your wedding album should be a timeless keepsake, not something you cringe at years later. Trends may come and go, but choosing the right wedding photography approach ensures your ...

Can you say no to your doctor using an AI scribe?

Doctors’ offices were once private. But increasingly, artificial intelligence (AI) scribes (also known as digital scribes) are listening in. These tools can record and trans...