Amway aims for "Total Wellness" as China business soars
Amway says it remains confident on the long-term prospects of the health and wellness business in China.
The company's new strategy of "Total Wellness" reflects its latest aim to further elevate the business performance on to the next level by keeping up with the newest trends in the market.
Amway (China) President Frances Yu said the company has maintained steady momentum and returned to the positive growth trajectory in the last three years.
At the same time, it has deployed digital infrastructure to make online community operations run more smoothly.
"We're very much a people-driven business and therefore the core of our strategy is responding to the public's shifting demands and latest market trends," Yu said. "We will strengthen our local investment here and we're planning to reveal the preliminary progress for the location of our own organic farm in China."
Over the course of nearly 30 years in China, Amway has allowed the general public and sales representatives to have a clearer understanding of the benefits of its products through offline experience centers and a wide range of marketing promotional activities.
Physical Health, Vibrant Lifestyle, Emotional Wellness, Sound Social Connections, Long-term Financial Well-being, Sustained Personal Growth, Social Contribution and Green Low-carbon Life stand as the eight pillars of the American company's new "Total Wellness" strategy.
"Our new strategy resonates with Chinese consumers' beliefs and long-term vision and we believe it also provides new means to fulfill the aspirations for a healthier and better life," Yu stated.
Seeing the diversified needs for health and wellness-related products and services, Amway believes that it has taken the right direction by staying committed to the field and expects to see fruitful results and continuous rebound of business performance in the coming years.
It's also dedicated to empowering sales representatives to fully leverage digital capabilities and expand and deepen the connection between community members, and build a strong bond of trust between customers.
Amway earlier this year announced ambitious plans to invest 600 million yuan (US$84.5 million) in its Guangzhou production base over the next five years to improve quality and efficiency as it pursues progressive business visions.
"Amway's latest investment in China lays a solid foundation for our future development in the country and we are also looking to strengthen the capability and resilience of our global supply chain network," Yu noted.
China has been Amway's largest market globally for 20 consecutive years, and it has established a complete industrial chain from research and development, digitalization, production, logistics, customer experience to service.
The latest strategy also reflects China's leading position in terms of a new business model including not only community operations, but also product R&D.
"I've witnessed a strong commitment and confidence from our colleagues because everyone has a deep understanding and a deep determination to carry forward our strategy and new development direction," she said.
"We have successfully discovered our core strength and our advantage which is strong expertise in nutritional supplements and an entrepreneurial ecosystem, so we can draw experience from those successful communities and turn it into a framework so others can also follow suit."
As for digital infrastructure, Amway is also keeping up with the latest trends and smart technologies so that a one-stop data platform can empower sales representatives to have an overview of the purchase preferences.
The rising pursuit of green and natural ingredients, and the rising awareness of raw material sources of nutritional supplements has become a latest trend under the general health and wellness theme.
Amway has been offering tailor-made solutions regarding health and wellness issues through its communities and also a holistic knowledge pool for healthy lifestyle and habits.
It has already covered key health-related areas such as nutritional balance, anti-aging, weight management, cardiovascular health with responding nutritional supplements, and those with Chinese herbal extracts have been the fastest rising categories.
Yu also pointed out that Amway remains optimistic on the long-term prospects of the health and wellness segment, which already contributes over 70 percent to its overall business in China, compared to about 55 percent around 2020.