In 2022, adverse impacts of Covid-19 pandemic toned down significantly worldwide, allowing for a return to normalcy. The cosmetics market also experienced a positive trend thereof, with consumers re-granting greater importance to makeup as a means of enhancing their confidence in social situations. Furthermore, consumers were found to have accorded higher priority to top-quality skincare and dietary supplements for self-care purposes. This creates multiple opportunities for the Company in its expansion and enhancement of marketing strategies.
The strategic plans for 2022 are listed below:
- The Makeup category enjoys widespread popularity among consumers and provides many opportunities for the Company to introduce a plethora of new products under different brands to fulfill diverse consumer demands. Moreover, studying consumer needs, creating and exploring novel ingredients or innovations are critical in establishing unique features for products under every distinctive brand.
- Covid-19 pandemic prompted the rise in use of skincare products as people spend additional time at home due to lockdowns or movement concerns. This rise in skincare demand reflects a long-term shift towards wellness, self-pamper, and natural aesthetics. With this in mind, the Company launched a new series of skincare products with innovative ingredients such as sheet masks, sleeping masks and lip masks with the aim of skyrocketing the sales volume and further increasing brand presence in this particular product segment.
- Consumer Products: Consumer goods are products intended for everyday consumption, covering a large product portfolio inclusive of food and non-food categories. Panic purchases stemming from the Coronavirus outbreak led sales of consumer-packaged goods - from toilet paper and canned food - to increase sharply in 2021. This also gave rise to the emergence of new companies and retailers of consumer goods. To maintain its strong position and visibility in this highly competitive sector, the Company decided to launch products in the categories of skincare, oral care, haircare and homecare, and places further emphasis on the quality of its products, with a strong focus on rigorous testing to ensure product safety.
- Dietary Supplements: Since the beginning of the COVID-19 pandemic, the interest in immunity-enhancing supplements and herbal products as well as their consumption rates dramatically soared as people looked to strengthen their immune systems and improve overall health and wellness. In the previous year, the Company developed and manufactured new dietary supplements in a wide variety of flavors and forms, including tablets, capsules as well as powder to respond to the ever-changing demands and preferences of health and fitness enthusiasts, all while focusing on marketing through retail and online channels, which has resulted in highly positive feedback. The Company offers a huge range of supplements generally classified into segments as follow: weight loss supplement, skincare supplement, detox supplement and immunity-boosting supplement.
- Aromatherapy & Spa Products: Previously only popular among a specific group of consumers, there is now an increasing number of people who are interested in and recognizing the importance of using aromatherapy and spa products to relax and reduce stress from daily life. Despite the existence of major mature players in the market, there has been a rise in the number of new brands entering the market due to increased demand from consumers. Additionally, current consumer behavior has shifted towards purchasing such products for use at home or work instead of acquiring spa services, which has led many brands to develop new market strategies for this product group to meet the changing customer demands and remain competitive. The Company has been selling Aromatherapy products for a long period of time, and its primary product categories include air fresheners, essential oils, perfumes, as well as natural skin care products such as shampoo, shower cream, lotion and others. With a marketing strategy primarily focused on retail channels, this category of products is sold in standalone stores marketed under "Reunrom" brand as well as Karmart stores and iconic department stores such as Icon Siam and Siam Paragon. Reunrom also established online stores in marketplaces and dedicated selling points, allowing them to reach target consumers directly.
- The Company constantly seeks to expand its market width and depth and increase sales by utilizing new online channels. This includes selling products through livestream and promoting sales through social media channels such as Facebook. Furthermore, the Company also plans to increase its sales channels by adding its stores to other marketplace platforms and leverage its existing stores that sell all brands then launch distinctive brand stores to boost sales.
- Concurrently, another key focus of the Company is on the gaining of more retail distributors and establishing a stronger presence in local communities and the mass market.
- As the Covid-19 situation improves, the Company also redirects its attention towards expanding sales through modern trade channels and retail stores in order to increase brand awareness and sales, and launched various sales promotions such as discounted products, free shipping, giveaways, free trials and such.
- The Company was able to increase marketing communication through Out-of-Home media in 2022 compared to the year before as consumers resume normal life of being out and about.
- A key focus for marketing communication was placed on online platforms and collaborations with high-profile beauty bloggers, influencers and real users from across the country to enhance the brand awareness among beauty aficionados. Moreover, the Company also emphasizes promotion in the form of product reviews in various formats such as text, images, and videos.
- The Company concurrently relied on selection of prominent actors and actresses as brand ambassadors to increase brand awareness and boost sales of the series of products they represent while reaching out to larger customer base that may include fans of the celebrities.
The Company accustomed to the Covid-19 situation through effective strategies and policies, enabling it to handle the ever-changing circumstances effectually. Therefore, sales were not significantly affected, and the implementation of some new strategies even resulted in increase in sales.
The Company's target market consists of teenagers and individuals between the ages of 18 to 40 who value self-care and have an interest in beauty products and staying up-to-date with beauty trends. It aims to provide quality products at affordable mid-range prices to ensure that customers have easy access. Target audience of each brand under KARMART’s roof is listed below:
- Cathy Doll: Teenagers and corporate workers who embrace diversity with open arms and adopt a playful attitude towards beauty trends, are adorable, charming, confident and constantly in search of innovative beauty products that cater to their individualized preferences and needs.
- Baby Bright: Teenagers and corporate workers who are beauty and health enthusiasts seeking all-natural skincare innovations that pamper and nourish the skin, as well as nutrimental cosmetics to lessen the load of chemicals on skin.
- Boya: People of all ages and genders who look for powerful treatments that cater to all hair and body nourishment needs.
- Jejuvita: Young women who are passionate about health and fitness, and in search of dietary supplements which are perfect in terms of both nutrition and taste, making them look and feel good from within.
- Reunrom: Upper middle income and social class customers who are health and wellness fanatics, and look for lifestyle products that complement their balanced living lifestyle, such as fragrances, massage oils and room diffusers etc.
- Crayon: Modern ladies who wish to attain professional makeup looks, confidence and charm with minimum efforts.
- Cathy Choo: Delicate ladies who fancy floral and herbal fragrances, as well as sophisticated packaging that provides luxurious visual sensation.
- Skynlab: Individuals who are in search of premium oral care and skincare products specifically formulated to address oral hygiene or skin concerns and enhance personal confidence.
- Keumyon: Customers who experience hair issues and are on the lookout for affordable, high-quality hair care solutions made with natural extracts and herbs.
- 7-Clean: Middle class workers and stay-at-home mothers who seek high-performance household cleaning products safe for their home and family.
- Browit: Teenagers and corporate workers who are enthusiastic about fashion and premium quality cosmetic products which help them achieve professional makeup look to boost confidence and self-esteem.
- THA: Young men and women who are trendy, fashionable and looking for beauty products that provide care for their skin with gentle ingredients and ultra-nourishing benefits.