Amway (Thailand) Ltd has raised its sales incentive budget by 10% to 6 billion baht to attract new distributors to the direct-selling network in a bid to resume positive sales growth in fiscal 2015, which started on Sept 1.
Amway yesterday unveiled its long-term compensation plan that will give business owners higher income and incentives with steady growth. Effective since Sept 1, the new compensation for owners from beginners to organisation leaders focuses on a balance between increasing income and career competitiveness.
Kittawat Ritteerawee, the company’s managing director, said this is the first in 27 years that Amway Thailand is offering a new attractive income and incentive deal to its business owners. The move is supposed to motivate owners to build solid, long-term growth for their business teams and Amway.
The new incentive restructuring comprises two compensation plans. Firstly, the standard compensation plan based on the original business model Amway has been using globally for 55 years.
It gives owners certain compensations based on their sales performance and level of achievement.
The other is the performance incentives plan, which will benefit all owner groups. It offers increased incentives, of which the short-term ones are for beginners while long-term incentives are designedto motivate organisation leaders to build steady,
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Amway managing director Kittawat Ritteerawee said that the company had seen positive economic signs, including the return of consumer spending in the past few months.
He said another positive sign was the higher number of people applying to be Amway independent business owners during the past couple of months after a decline in the number early this year.
Early this year Amway’s main customers, those with high purchasing power and high brand loyalty, were not in a spending mood due to the economic and political situation.
But despite that, Kittawat said Amway took only a slight drop in terms of its main products including supplementary foods.
He added that if there were no major issues for the remainder of the year, such as major flooding, the company believed it could achieve this year’s revenue target while the political stability continued.
The company also planned to launch promising new products and promotional campaigns in an attempt to boost sales in the second half of the year.
Pakapan Leevutinan, the new president of the Thai Direct Selling Association, estimated that the direct-sales industry this year would grow between 5% and 7% to around Bt70 billion, thanks to the economic recovery and the improving political atmosphere.
She said that the industry could