Coway (Thailand) Co Ltd, a water purifier and air purifier brand from South Korea, is aiming for a 20% increase in subscriptions and is planning to launch a new product this year.
Kiryong Choi, chief executive of Coway (Thailand), said Thailand is a potential market for Coway in Southeast Asia as the number of health-conscious consumers continues to rise.
To further enhance growth, the firm is expanding its team of service staff responsible for tasks such as changing water purifier filters and educating customers about Coway's products, he said.
Coway employs more than a thousand service staff.
"We aim to increase our service staff in line with the growth of our subscription base," said Mr Choi.
With roughly 300,000 subscribers in Thailand, water purifier subscriptions make up 70% of total memberships.
Coway's subscription model offers a monthly plan that covers maintenance and repairs for both water and air purifiers, according to the company's website.
Mr Choi said the company aims to achieve a 20% increase in subscription memberships this year.
The company will enhance its digital marketing and e-commerce initiatives to ramp up online sales, collaborating with Thai brand ambassadors and influencers to elevate brand awareness and consumer confidence.
Mr Choi said the company plans to launch a massage chair in Thailand, following the release of this product in South Korea and Malaysia. The company is scheduled to introduce this product under the subscription model in April.
He said massage chairs are priced from tens of thousands to more than 100,000 baht.
However, after prolonged use the components of a massage chair may become damaged or wear out. The subscription programme allows service staff to provide regular maintenance to ensure the product remains in good condition throughout its lifespan, said Mr Choi.
Despite the sluggish Thai economy with a high level of household debt, Coway remains optimistic about subscriber growth this year, as its products are positioned as essential items.
Furthermore, having a water purifier is seen as a more economical alternative to purchasing bottled water on a monthly basis, he added.
