Bangkok--30 Apr--MT Multimedia
TV Direct Public Company Limited (TVD) has introduced major changes to adapt to changes in consumer behaviors in the digital age by rebranding to mark the 20th anniversary and to create a new identity under the slogan "Good Life, Everyday". This change is to ensure that TVD will become an excellent service and lifestyle provider. The management has moved ahead with the "Omni Channel" strategy to create the most effective linkage through all channels while also transforming the management to digital mode as well as to launch the 20th anniversary campaign with weekly prize draws from May 1 to September 20, 2019.
Mr. Songpol Shanmatkit, Chief Executive Officer of TV Direct Public Company Limited (TVD) the leader in merchandising and service providing through omni channels, revealed that the Company has decided to rebrand the corporate structure to mark the 20th anniversary which is the Company's biggest change through the rebranding and creating brand recognition under the slogan "Good Life, Everyday". The restructuring of the business and corporate model and the readjustment of the strategy are designed to cope with the new business trend and the quick changes in consumer behavior in the digital age, in order to transform the business operation to become more effective and create sustainable growth in accordance with the target.
The Company saw the following factors that could affect business operations, namely: 1. The declining population – It is expected that Thailand's population will start to decline beginning in 2030, affecting businesses through reduced purchasing power; 2. The increasing trend among the Thai population toward the digital lifestyle – Statistics show that at present the Thai population own 92.35 million smartphones, with the highest daily average use in the world of 4.53 hours per person per day (daily global average is 3.05 hours per person per day), while 52 million Thais are on LINE app, 48 million on Facebook, 13.6 million on Instagram, 12 million on Twitter, etc. This has resulted in the 30 percent of the population accessing information mainly through online channels, 15 percent through both online and offline channels and 55 percent mainly through offline channels.
In the same vein, among the current population of 69 million people, 21.6 million are 24 years old and under, while those in the working-age bracket of 25-54 years old – which is a target group for the Company – numbers 31.7 million people, and those 55-64 years old, which comprises the main customer group of the Company with their high purchasing power, number about 15.7 million people. This last group is also still more keen on watching television and thus are still mainly reachable through the mass media.
The CEO of TVD said further that, due to those important factors, it was necessary for the Company to undergo restructuring of the corporation and to remodel the business toward "digital transformation" through the full application of the "Omni Channel" strategy to most effectively link all channels both online and offline, retail stores and TVD Shops and to create impressive experiences for the customers as the increasing consumer trend is leaning more toward buying through feelings and emotions.
Therefore, TVD business policy going forward will not only be a seller of products, but more of a hospitality service provider who is ready to dispense new experiences and at the same time to create better relationship with the customers to truly engage them and encourage repeat purchases. The Company will change the business model to become a complete "Video Marketer" with images, sounds and contents, instead of just TV Shopping as in the past.
Mr. Songpol further said that the Company has restructured the management to become leaner and more flexible by reducing the corporate structure to only four departments, namely, Purchasing, Marketing, Omni Channel and Operation. This will create quicker decision-making and more effective personnel expenditure management. New software technology has also been introduced in the Call Center unit to be able to more effectively evaluate communications with customers with the aim to increase closed sale successes and reduce the rate of purchase cancellations.
To celebrate the Company's 20th anniversary, the "TVD 20th Birthday Festival" will take place from May 1 to September 20, 2019 – a total of 20 weeks – to raffle off prizes worth 5 million baht in total. All customers with every 1,000-baht purchases will have one chance at the raffle draw for prizes that include a 500,000-baht Toyota ATIV car, gold necklaces, massage chairs, etc. This campaign is expected to boost sales to the 4,800-million-baht target.
"We are confident that we are in the right direction and that the Company will grow even stronger. This corporate restructuring which can be considered as a total change to usher the Company into the digital age and can more effectively fulfill the demand of consumers in the working age group as well as the near retirement group which are the main target group of the Company," Mr. Songpol concluded.