Amway investing additional $1.5 M in Philippines
MANILA, Philippines - American direct selling giant Amway Corp. is investing an additional $1.5 million to bolster its operations in the Philippines, a market where it continues to see huge potential for growth.
Amway Philippines country manager Elenita Olmedo said the amount would be used to upgrade facilities and infrastructure as the company gears up to serve a more buoyant Philippine market.
“The Philippines is in a unique position to provide a fertile testing ground for some new ideas for Amway. Our economy is currently among the fastest growing in Southeast Asia and has been on this stable trend in recent years. Growth is being driven by in-market consumption,” Olmedo said in a briefing yesterday.
“With declining poverty incidence and rising incomes, the Philippines is fast becoming an upper middle income country, providing more opportunities for retailing, especially for consumer goods in the fast-growing categories of health and wellness, beauty and home care,” she added.
At present, the Philippines does not rank in the top 10 biggest markets of Amway globally. Its largest markets are in China, Japan, Korea, US and Thailand.
“But we’re definitely one of those emerging markets. That’s one of the reasons why they are investing in the Philippines,” Olmedo said.
Amway Philippines is developing a new facility called My Amway Place, which will enable a better in-shopping experience for Amway business owners (ABOs).
It is also enabling ABOs with a more convenient shopping experience through e-commerce.
“We are aiming for more seamless operations and coordination among our more than 60,000 ABOs, which we expect to greatly increase their productivity and efficiency. A new experience center in Makati will also support retailing, training, and community building programs, at least in the Metro Manila area,” Olmedo said.
Olmedo said Amway Philippines is also seeking to penetrate and reach out to a wider consumer base in the country.