Food and Finished Goods
Thai Wah recognizes that the quality of its products is of utmost importance to the health and well-being of its consumers. As such, we pay meticulous attention to every step apparent in our business operations. In the “Food and Finished Good” Pillar, we, as a leader in the agri-food industry, attach great importance to raising quality and safety standards across the whole production process with a single goal in mind: promoting consumers' health and enhancing their quality of life. To this end, we are constantly striving to stay ahead of the curve. We have forged partnerships with a whole host of business partners and leading research institutes, most notably Chulalongkorn University, on developing food innovations that will enable us to produce products that are healthy and tasty, convenient and easy to prepare, and full of nutritional value. As always, our ambition is to continue pushing the boundaries and set the bar higher when it comes to product quality and safety, in order to maintain our leadership in the agri-food industry.
Thai Wah understands that the road to good health and well-being begins with making informed, mindful dietary choices. We are passionate about providing our consumers with quality, safe, nutritionally-rich products that are not only tailored to meet the individual health needs of our consumers, but are also conscious of their impact on the environment. To this end, we strive to constantly innovate, developing more innovative and sustainable agri-food products in a way that puts minimal strain on the environment — alternatives that can be enjoyed by our consumers while also respecting the planet.
| 2020 | 2021 | 2022 | Target 2023 | |
|---|---|---|---|---|
| Number of Consumer Health and Well-Being Products (SKU) | 5 | 5 | 5 | 7 |
| Newly-Developed Health and Well-Being Products as a Percentage of All New Products (%) | 50 | 70 | 80 | 85 |
Thai Wah is unswerving in staying ahead of its contemporaries. We push the boundaries of innovation to bring into life innovative products and services that keep up with the ever-growing consumer demands. To this end, we have laid the groundwork for this with our extensive “Innovation Network,” comprising four key hubs and centers: Ideation Hub at our headquarters in Sathorn, Innovation Hub at Chulalongkorn University, Application Hub in Shanghai, China, and Innovation Application Centers in Indonesia and Vietnam. Through this collaboration, our research teams have been built up, drawing on the expertise of the university's multiple faculties to conduct research for commercial use, to be able to build upon their findings and Application Hub's resources to create process innovations and innovative products and services. These are then taken to our Innovation Application Centers to be put to test, ensuring that our customers' needs are met. Through this network, we are able to deliver products and services that are of the highest quality and safety and ahead of the curve.
Thai Wah keeps up with the ever-evolving palate of its customers and stops at nothing to appeal to their tastes and cravings. Parlaying the success of three flavors of instant vermicelli products, we, through the collaboration between our marketing and R&D teams, developed our newest flavor: Yentafo Tom Yum Hot Pot. We crafted a seasoning paste that produces an immediately recognizable pink colored broth that is rich, mellow, and unique, perfectly encapsulating the tantalizing flavor and aroma of fermented bean paste. When coupled with non-fried vermicelli, the result is a product that is healthy, tasty, and nutritious, perfectly catering to the needs of Thai customers of every healthy lifestyle and staying true to its tagline “Delicious Vermicelli with a Satisfying Flavor for You to Eat Whenever You Want.”
Driven by the passionate belief that our planet and its people matter, our bioplastics are developed to meet our consumers' needs for a plastic alternative that not only delivers on its promise of being eco-friendly, but also provides them with a safe and reliable product, and this gives way to our RosEco's purpose: to create a sustainable, renewable, zero-waste solution for a better world. Our bioplastics are nature-based, made from the leftovers from our production process, allowing users to reduce the amount of not only plastic waste, but also food waste in our world, ultimately revolutionizing the way we use plastics and paving the way for a sustainable, zero-waste future that we envision.
Local Restaurant Promotion
Thai Wah is deeply convinced that the strength of the restaurant industry lies in the ability to learn from the success of others and build on existing food businesses. As such, in 2020, we launched an inspiring YouTube campaign to help promote street food restaurants that had been heavily impacted by the pandemic, with the aim of reviving the crisis-plagued industry, and the campaign has still been up and running till this day. We take to the streets to feature the stories of our customers who are owners of street food restaurants. We ask them to share their unique stories of how they weathered the challenging times as well as the success strategies they use to keep their restaurants afloat and winning. Through this campaign, we created an atmosphere of mutual support and encouragement, and spread the word about the restaurants.
Thai Wah recognizes that Creating Innovation and Sustainability from “Farm” to “Shelf” starts with its global customers. To this end, we have developed “ROSE BRAND Webinar,” a platform designed to bring together industry experts, professionals, and customers from all over the globe to exchange valuable insights on trends, opportunities, and breakthrough innovations in the food and beverage industry. Through this webinar, we can meet people who have an interest in our cutting-edge ROSE BRAND products, gain a deeper understanding of the market, all while marketing our products. By staying in touch with our customers and consumers, we are better able to equip our sales team with the best possible tools and resources for success and further develop our products. This forward-thinking approach to engaging with our consumers keeps us at the forefront of the industry and ensures we are always one step ahead.
Product Quality and Safety Innovation
Customer Satisfaction Evaluation
Thai Wah strives to ensure that its consumers are satisfied with its products and services. To this end, we conduct an extensive customer satisfaction evaluation every year. Through the evaluation, we can gain valuable insights into customer demand and behavior, enabling us to make informed decisions about future product and service developments, as well as sales promotion strategies. As we continue to expand our global reach, the survey is becoming increasingly expansive, allowing us to gain an even better understanding of our customers' needs, wants, and interests. This allows us to make sure that our products and services are always meeting the highest standards of customer satisfaction. Customer satisfaction surveys can be broken down into two distinct categories: Starch Business and International Food Business, and Domestic Food Business.
- Starch Business and International Food Business
Overall Satisfaction Score
2018 2019 2020 2021 2022 Target 2023 Starch Business and International Food Business (%) 86 90 83 83 88 91 The survey results demonstrate that among our consumers' top considerations when making a purchase are Product Quality, Safety, and Variety. And our dedication to offering a wide variety of safe, clean, high-quality products to our consumers is evidenced by very high satisfaction scores across the board, measuring Product Quality, Product Cleanliness and Safety, and Product Variety. All of this illustrates our capacity to serve our consumers a larger variety of innovative, safe, clean, high-quality products.
- Domestic Food Business
Overall Satisfaction Score
2018 2019 2020 2021 2022 Target 2023 Food Business (%) 85 84 86 85 91 91 Thai Wah delves deep into consumer feedback in order to gain a comprehensive understanding of any concerns that are being expressed and thereby provide the best possible consumer experience. In 2022, we made sure to meticulously analyze consumer feedback for each questionnaire item in order to craft impactful solutions. This is key, as it enables us to fully comprehend and promptly respond to any feedback. Additionally, our Commercial and Operation teams have a monthly meeting to discuss consumer feedback, identify areas for improvement, and agree on specific goals to strive for. This enables us to be proactive in our response to customer feedback and ensure that their needs are being met in the most effective way.