‘OSP’ Expands Product Portfolio to Penetrate Health Product Market And Develops Innovative Products In Response to Consumer Behaviors in New Normal Era
Carrying out knowledge and experience in conducting business in Thailand for over 129 years, 'Osotspa Public Company Limited (OSP)' has created innovations that meet the new behaviors in the New Normal era where consumers focus more on health and hygiene, after successfully marketing alcohol hand cleaning products under the brand Ole and Babi Mild through utilizing their strong point to differentiate themselves from competitors. The Company also adds herbs to increase the value of beverage products while continuously developing e-commerce channels after seeing three-time sales growth.
Mr. Petch Osathanugrah, Chairman of the Executive Committee and CEO, Osotspa Public Company Limited or OSP, a leading Thailand-based consumer products manufacturer and distributor, revealed that the coronavirus or COVID-19 has affected consumers' lifestyles and changed their consumption behavior faster than the Digital Disruption did, causing businesses to adapt with new strategies. OSP has brought out knowledge from over 129 years of business experience in Thailand to strengthen the brands and lead the organization to overcome this crisis by prioritizing the knowledge and expertise in product research and development to create product innovations to meet consumers’ new normal lifestyles.
OSP continually studies the needs of consumers and invents new products to meet those needs in a timely manner. New Normal life style is the effect of the COVID-19. Consumers are cautious in spending but do not hesitate to buy food and medicine. Consumer behavior has changed unexpectedly. They avoid regular behaviors such as touching, traveling, and consume less unnecessary goods. Osotspa has used these factors as the basis to build up strategies with innovation as the key engine.
Last year, Osotspa established 'Osotspa Innovation Center' at the Thailand Science Park in Pathum Thani province, the country's largest research and development center as well an origin of innovations, filled with modern equipment and support from a network of NSTDA researchers and academics. Osotspa focuses on full research and development, covering from upstream to downstream. The establishment of the Osotspa Innovation Center helps the Company to continuously develop products that meet the consumers’ need and create new experiences as well as enhances the capability to deliver products that respond to the New Normal lifestyle quickly and in time.
The Company serves the consumer growing concern on hygiene by a development of 70% alcohol cleaning products with features that are unique, special and unlike other products in the market. The alcohol cleaning products under the brand 'Ole' standout with the signature scent of Ole candy, providing options for consumers looking for aromatic hand cleaning gels. They clean hands and moisturize the skin. They are available in gel bottle for household and portable spray cartridge. For mothers who need alcohol cleansers for the baby's delicate skin, Babi Mild Natural Hand Sanitizer Gel is a perfect choice with an organic aloe vera extract certified by the world-class organic certification institute ECOCERT®. Another example is the Babi Mild Baby Cream Anti-Pollution product, which combines Moringa extract from France that helps protect the skin from small dust such as PM 2.5, smoke and dirt.
Similarly, the beverage products have emphasized on herbal benefits to add value to the brand and create value for consumers. For example, the new ‘M-150’ energy drink offers the benefits of black galingale and honey. 'Peptine Gold' is premium drinks for ageing consumer with health concern, containing superfood ingredients that help strengthen the immune system. M-Presso Robusta Gold drinks come with Korean ginseng extract for health. Also, the Company plans to increase production capacity of vitamin C drinks under the brand 'C-Vit' by 10-15% to meet the market's demotion after having market share in the first quarter increased to 31.3% and driving the overall functional drink market of this quarter to grow to 16.1%.
"Being Creative and innovative in order to to keep up the change in consumer needs is not alienated but it has always been part of Osotspa. Therefore, this current situation, Osotspa does not view it as an obstacle but as an opportunity to use our creativity, our knowledge, and our speed to strengthen the business." Mr. Petch said.
At the same time, the Company has also developed the distribution channel in e-commerce, across all platforms in response to the trend of consumers who want to reserve products at home and avoid shopping outside. Besides worthy marketing campaigns, Osotspa’s online channel offers products that meet the needs of consumers who work from home, such as ‘Slimma’, drinks containing L-Carnitine and vitamins B that help reduce fat absorption and burn for people who work at home and do not have time to exercise. Pro Hada sunscreen, containing BLUESHIELD® technology with red bell pepper extracts, helps protect people who have to work from home and sit in front the screen for a long time from blue light from the computer screen and UV rays in sunlight. As a result, the e-commerce channel has sales growth of 3 times as much.
"In the midst of the COVID-19 situation with the economic crisis, Osotspa still sees the opportunity and demonstrates the potential for innovation that is second to none. Many new products that serve the needs of consumers to the point are developed. These products not only help enhance the quality of life for consumers but also build a strong foundation for the Osotspa to grow sustainably as well, " Mr. Petch said.
