Despite a challenging economic landscape affecting consumer spending, NSL Foods is steadfast in its commitment to achieving a 16% growth target. The company, known for its bakery items, snacks, and ready-to-eat meals, remains optimistic about its future amidst global uncertainties.
President of NSL Foods, Somchai Asavapiyanond, acknowledges the prevailing economic slowdown and its impact on consumer behavior. He notes that although some consumers still possess buying power, they are exercising caution in their expenditures due to the uncertain financial environment.
“In times of economic uncertainty, people tend to be more mindful of their spending habits,”
remarked Mr. Somchai. This cautious approach has been reflected in the company’s sales figures as the economic slowdown coupled with a decline in foreign visitors have posed challenges for NSL Foods.
However, Mr. Somchai emphasizes the resilience of the food industry during such times.
“Food is a necessity, which positions our sector as comparatively stable even amidst economic fluctuations,”
he explained. This stability enables NSL Foods to maintain its ambitious growth projection of 16% year-on-year.
To navigate through these testing circumstances, NSL Foods is implementing strategies to enhance consumer awareness and expand market reach by introducing new products regularly. The company’s focus on innovation and customer engagement is fundamental in sustaining growth momentum amid adversity.
Notably, NSL Foods has identified coconut juice and coconut milk as key export products driving international sales growth. With exports expected to contribute significantly more this year compared to previous years – aiming for 5% of total sales – there is an emphasis on strengthening market presence in regions like the US (50%), Europe (15%), and the Middle East (5-6%).
In line with expansion plans, NSL Foods has invested substantially in a new manufacturing facility located in Chon Buri with an estimated completion timeframe around mid-2026. This state-of-the-art plant will ramp up production capacity for bread-based sandwiches while also catering to frozen and retort food items.
The upgraded facility will bolster daily sandwich production from 250,000-300,000 pieces to an impressive 700,000 units with ample room for further scaling up operations when needed.
Addressing potential operational disruptions arising from ongoing tensions between Thailand and Cambodia surrounding border issues; NSL Foods maintains a pragmatic outlook considering any impact on business operations as minimal at present.
As companies worldwide navigate through uncertain economic terrains marred by reduced consumer confidence and spending power; NSL Foods stands out as a beacon of resilience and strategic foresight within the competitive food industry landscape.
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