“Instead of spending money on in-store displays during the nationwide lockdown,
Lim shares that they reduced their overall advertising and promotional spend because they foresaw that their retail store partners would experience significantly less foot traffic. The ads and promotion budget that they saved was instead allocated to support social media-related initiatives to drive awareness via their online platforms.
When asked about the technologies they have procured to keep abreast of online shoppers’ needs, Lim says that her sales and marketing team have always been ready for the ever-evolving consumers’ needs. “We’re well-versed in online advertising tools such as Google AdWords and Facebook Business Manager, as well as familiar with e-commerce platforms like Magento, Shopify, Lazada, and Shopee,” Lim answers. “We also worked with giant health and beauty chains Guardian and Watsons to have our products listed on their online listings.”
One key revenue-boosting strategy that Wellchem Pharmaceuticals plans to activate next year is to grow its proprietary brands such as Leftose® and Miriqa® overseas. To maximize profit and mitigate risks of COVID-19 infections among their in-store customers, Lim shares that they will do away with physical stores, source international distributors, and exclusively promote these brands directly through their websites.” PORTFOLIO Magazine, Saving Space, The Future of Retail by Ana Luna-Reston