BANGKOK – “Nippon Paint” launches a 3-year strategy to become the leading manufacturer and distributor in Thailand with targets to achieve sales of over 15 billion baht by 2026 that become the No.1 paint and coatings brand in the Thai painting industry.
As a new beginning for the Year of Dragon, the company hosted a Dealer Conference meeting gathering nationwide distributors at the Conrad Bangkok Hotel, while proceeding with marketing strategies to create new movements for the painting market, reinforcing “the Inspired by You” concept with the new strategies. The company is confident that its sales in 2024 will break a new high once again.
Mr. Jon Tan Hon Yiu, Deputy Managing Director of Nippon Paint Malaysia Group (M Group), led the team in announcing the achievements and policies of the Nippon Paint Group around the world, as well as achievements in the Asian region and Thailand, showing its competency to move toward the new strategies, trading goals, and products development to the World Class Standard.
Mr. Watchara Siriritthichai, General Manager of Nippon Paint Decorative Coatings Thailand, a manufacturer and distributor of “Nippon Paint” in Thailand as Japan-based Asia’s number one paint brand and the fourth leading brand in the world market, revealed that in 2023 Nippon Paint Thailand achieved a total sale of more than 9.2 billion baht, or an increased by 12 percent, higher than the company’s target.
Positive factors contributing to the growth were mainly from the comprehensive adjusting of the company’s operating strategies covering marketing, sales, and market segments. Under the market strategy, the company has focused more on ‘Push Marketing’, making it possible to reach more targeted groups of customers.
It has also adjusted the sales structure by increasing the efficiency of sales staff to be able to respond to customers’ demand, while adjusting market segments to make them clearer and meet customers’ demand at the right targeted groups whether they are a group of Business-to-Business (B2B), Business-to-Customer (B2C) and Business-to-Government (B2G).
Regarding the operational strategy of “Nippon Paint” in the next three years (2024-2026), the company aims to become “the leading manufacturer and distributor in Thailand” under the concept of “Inspired by You”.
The operating concept is the integration of three business groups: Decorative, Auto Refinish and Industrial to promote strength and confidence, while truly responding to the demand of the Thai market. Moreover, within the next three years from now, the company is prompt to continue investing in innovation, technology, and product and service development, as well as drawing a 360-degree marketing strategy based on customer-centric.
“The year 2023 is considered one of the successful years for Nippon Paint. It can be seen from the exponential growth of more than 12 percent, while the total market grew only 5-6 percent, our growth is considered to be double the market’s expansion. This helps encourage the company’s confidence in continuing to penetrate the market. This year, Nippon Paint will return to focus more on investment and sturdy market penetration. We set to achieve sales of over 11 billion baht this year, a new high in sales in 57 years of Nippon Paint Thailand. Furthermore, we set to become the leading in manufacturing and distributing in Thailand (manufacturer and distributor in Thailand, excluding exports) with total sales of over 15 billion baht by 2026,” Mr. Watchara said.
Mr. Narongrit Malainual, Marketing Director of Nippon Paint Decorative Coatings Thailand, said that Nippon Paint is moving forward with a 360-degree marketing strategy, both Above The Line and Below The Line, to create awareness and build confidence among all targeted groups of customers, covering B2B, B2C, and B2G.
As a new beginning for the Year of Dragon, the company will organize a Dealer Conference Meeting, gathering nationwide distributors to the event, and will continue with its full competency marketing strategy in order to create a new movement for the paint market in Thailand.
“Nippon Paint moves forward with our business plan under the concept of “Inspired by You” consisting of “3C”: Customer Centric, Customized Solution and Concrete Innovation with customer-centric vision. Nippon Paint’s products and innovations have been created and developed from customer needs and problems experienced by customers. Nippon Paint creates innovations and resolutions that respond to and solve those problems directly to the point.
Previously, the company has focused on improving the efficiency of sales staff to help solve problems for customers, while also increasing distribution channels to cover both dealers and modern trade. At the same time, the company aims to move forward in promoting growth together with our business partners in every group by jointly developing products and services, and operations plans together. The company has no policy to open retail stores or sell products in the same direction as trading partners, making our partners confident that Nippon Paint is truly ready to thrive together with our partner,” Mr. Narongrit reiterated.
In 2023, All types of paint market industry have a total value of approximately 58 billion baht, with a growth of 5-6 percent. This year, it is expected to grow 5 percent. Factors to support the growth contribute to company marketing strategies and joint partnerships with business partners. The company also places importance on customers as a priority, while also increasing the efficiency of employees to have expertise in each segment.
Meanwhile, at the Dealer Conference Meeting, the event was honored by Mr. Arnut Kittikulmetee, Executive Vice President – Project Development Department (Low Rise), Sansiri Public Company Limited, Thailand’s leading real estate developer, as a guest speaker, giving a vision about the direction of real estate industry and the selection of construction materials in 2024.
“Sansiri places great importance on conducting business based on sustainability. Sansiri’s mission as Thailand’s first real estate company to set a goal of net-zero greenhouse gas emissions (Net-Zero) by the year 2050
One of the most important plans for this year is a commitment to deliver every new project of Sansiri with green home innovation or Green Living Designed Home under 3 concepts, starting from design-construction-to-delivery of a clean energy home. This is to ensure that our residents have a good quality of life.
Sansiri also pays great attention to the process of selecting business partners, who seriously care about environmental protection. We appreciate Nippon Paint for continuing to be an ally and business partner with Sansiri in delivering good quality housings with safety standards for residents, while also being environmentally friendly to reach our goal of reducing environmental impacts together,” Mr. Arnut said at the Dealer Conference Meeting.
