When Watsons opened its first branch in the country 13 years ago in 2002, it marketed itself as a store selling mainly cosmetics. Since then, it has expanded its mix to include generic medicines and health supplements.
In its desire to provide more Filipinos with options when it comes to ensuring their health, the company launched its campaign last year, “Watsons Generics: Improving lives of the Filipinos one pill at a time.” By boxing the most commonly prescribed medicines and supplements and selling them at affordable prices, Watsons was able to cater to a largely untapped market—one that had difficulty completing their doctors’ recommended dosages.
“Our generic medicines are produced by trusted partners,” said Danilo Chong, Watsons trading health director. “All of these go through a rigorous screening process and a third party audit. These methods, on top of Philippine regulatory agency standards, assure consumers that they are purchasing high quality products.”
In the Philippines, where the average monthly household income for a family of five is P18,000, Filipinos prioritize more basic needs like food and shelter over healthcare and medicines. It may take years for these figures to improve, but the campaign is a step in the right direction.
Industry award
This was verified last month when Watsons became the only recipient from the Philippines in the Health Promotion Category of the Asia Responsible Entrepreneurship Awards (Area) held June 19 at Banyan Tree in Macau. The Area by Enterprise Asia honors Asian businesses that champion sustainable and responsible business practices; demonstrate companies’ leadership, sincerity and on-going commitment in incorporating responsible and ethical values; and protect of the environment in the way they run their businesses.
From over 300 submissions and 28 countries, only 52 projects across Asia were chosen for the six categories: Green Leadership Award, Investment in People Award, Social Empowerment Award, SME CSR Award, Responsible Business Leader Award, and Health Promotion Award.
Watsons’ marketing director Viki Encarnacion said receiving the award was a “humbling experience
,” one that they saw as “a challenge to further this advocacy in helping improve the health of Filipinos.”
Expanded range
To this end, Watsons will be adding 40 to 45 new stock keeping units to its generics range this year that will cover 90 percent of the needs of its customers. The current Watsons Generics line includes maintenance medicines for diabetes, hypertension and cholesterol, antibiotics to fight off the common bacteria, dietary supplements for skin enhancement, anti-aging and over-all wellness, basic vitamins, oral analgesics, and other over-the-counter medicines.
“We continue to open more stores nationwide; our target is 50 stores yearly. By the end of the year, we will have over 460 branches,” she said.
Watsons Philippines recently partnered with Alfamart to further ensure that Watsons Generics will reach communities where Watsons stores are not present. This unique distribution strategy makes Watsons Generics accessible to the class D and E markets.
“For more than 170 years, Watsons has been providing health and wellness products to its customers worldwide. We are excited to do the same in the Philippines by allowing Filipino families to take charge of their health without the fear of financial burden,” Encarnacion said.
