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Our top five trends shaping the Asian retail market and influencing retailer strategy over the next year and beyond.
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A.S. Watson continues to digitally transform its business around the world. Its latest initiatives are to launch a Watsons Mini Store in China and Watsons Pay in Taiwan.
In China, Watsons has also launched Watsons Mini Store, a WeChat Mini Program that enables shoppers to share in-store experiences via social media and create a more seamless online and offline experience. The initiative allows customers to recommend and sell Watsons products to their social media followers. To-date, it has over 10,000 customers selling on the platform.
In Taiwan, Watsons continues to bring digital features in-store. Earlier in the year, Watsons launched its Tech-Fun store in Taipei, featuring large-scale live broadcast screens and virtual technology make-up service. The retailer has also recently launched Watsons Pay, allowing shoppers to easily make payment via their mobiles online and in-store. Watsons Taiwan has around 5m members on its loyalty programme and hopes to increase this to 6m within two years.
Group Chief Operating Officer of A.S. Watson Group, Malina Ngai, said, “Customers in today’s digital world have high expectations, and if a company can’t satisfy them, they will churn and move on to one that can. From awareness, product consideration and purchase to loyalty and advocacy, it is of strategic importance that we use technology smartly to connect with customers at micro moments to provide relevant and enriched experiences.”