Just before the Eid Fitri holidays, BusinessToday sat down with Racheal Tan, CEO of Wellous to learn about the journey of the healthcare industry, pr,e and post-pandemic. As the country finally reopened almost all sectors of the economy, it would be interesting to know how the health tech company has grown during these 2 years.
“Wellous is going to celebrate its sixth anniversary come October this year.”
“When we started out, I could see that in the healthcare industry, there were already a lot of established and seasoned players, while we were just starting from scratch,” said Racheal.
She also shared about the challenges faced by Wellous in their early days, “It was a very challenging time at the beginning because people didn’t know us”. She remarked that consumers tend to have a preference for branded or imported products. When it came to healthcare products like supplements and vitamins, people preferred walking into brick-and-mortar to shops for products that they were familiar with.
“It was tough, but Wellous persevered, carving a niche for itself in the online space with those not keen in going out, and slowly built their faith in the products, which stems from quality and reliability,” Racheal added.
The Pandemic Phenomenon
“In terms of health care products, I would say that most consumers will focus on beauty products, skin care products, but little on healthcare itself.”
The sweeping and deep impact of the pandemic is that people started to develop a better understanding of the importance of staying and being healthy. The first criteria is having a strong immune system. And now that most people are practicing good hygiene and being exposed to all kinds of information regarding health, there is a shift in focus when it comes to buying healthcare products.
“There is definitely a shift of choice in healthcare products as people in general have become more health conscious. More people now opt for healthcare products that are organ-focused, like lungs and the liver.”
Whether in English, Chinese or German, there’s a synonymous saying of “Health is wealth”. Ask a very sick person, what it feels like to be ravaged by unbearable pain, and they would most likely answer, “I am willing to pay whatever amount it is, just give me back my health!”
So, what is the growth rate like for healthcare products, post-pandemic? we asked.
“For Wellous, we have seen substantial growth, both during and post-pandemic. We have also gained millions of satisfied customers from all over the world. As people are becoming more health conscious, they are willing to spend more on quality healthcare products,” she answered with much clarity and enthusiasm.
“Post-pandemic, people are more focused on mental health, despite it being considered “taboo” in the past. It is a subject that is being discussed and addressed publicly now.”
A topic that needs another feature story all by itself, which we shall revisit in coming weeks.
Transforming Perception
“Now people want to have a level of comfort and convenience especially after the lockdown period. People are more willing to spend, they are looking for things that are portable, easy to be consumed when they are on the move or travelling, hence creating a demand for convenient sachet & liquid forms.
“These are all factors that are trending now,” she reiterated.
“Even the way they purchase is different now. People prefer products to be delivered to their doorstep. Walking into brick-and-mortar shops is not a must anymore! With technology, people are able to share information about products with just with a click of a button. Showing the testimonies to the public is just a matter of clicking, unlike in the past when you had to have a meeting, really get to know the person before allowing them share with you how they have benefited from a product.”
Every industry or sector has its own set of challenges. Wellous was established with its marketing prowess through e-commerce, has certainly cultivated a certain level of following amongst its customers. This success has led to the company having a retention rate of more than 30% sales monthly from an ardent customer base.
But this wasn’t easy in the beginning, as it was challenging to convince customers to purchase health goods over E-commerce. Racheal added “Imagine you’ve never seen the brand before, or never tried before, how would you have the trust as you have never seen this before, it goes back to the question of whether having a prominent brand name is something important. Basically, the challenges are trust, branding, reliability, and the physical touch because people still prefer to have something to touch.”
Healthcare Is All About Trust
“It all falls back to the “trust” issue. We have a team of medical professionals who act as advisors to our formulation and consultation. So, any healthcare related questions are directed to this team of doctors and medical professionals to address these problems and answer the questions posed by customers. So basically, these professionals, also known as the Wellous Medical Research Board of Advisory (MRBA) are there to guide people through the science behind product creation and create awareness based on health tips.”
“We have to ensure that the product quality is the best. We do not settle for the second best, so we always go for globally-sourced ingredients, as well as having at least 2 patented or branded ingredients in all Wellous products. That is how we ensure we create a product that we would love & consume ourselves. In a nutshell, we want the best quality and to ensure all our customers are happy and satisfied with our products and the results.
Functional Food?
“What’s the meaning of functional food? It means ingredients that has got specific health functions. With the busy and stressful lifestyle people have now, and also limited space in our stomachs, we must ensure the best quality food or ingredients go into our bodies. You are what you eat. We still promote real, wholesome foods that are the best source of vitamins, minerals and antioxidants and phytochemicals.”
“If you do not have the time to cook, or you do not have access to all these natural ingredients, then functional foods with specific health benefits are perfect for your needs. On top to that, we want to ensure that all our products are palatable so that people find pleasure in finishing the products they purchase.”
“Another trend is the concept of sustainability to be integral of our practice and belief. We want our products to be free from contaminants, microbials, heavy metals. We believe the best things come from Mother Nature; thus, we want to protect Mother Nature. Our packaging is going to be environmentally friendly and biodegradable.”
We asked Racheal, what are the management paradigm shifts for ensuring success?
“We are looking at digital apps including a comprehensive system to manage our customers, a loyalty point system and subscription plan to reward our customers in the future and besides all the activities, the company also focuses on offline on-ground events & community outreach. Of course, we are also stepping up our CSR efforts and projects to give back to the community too,” she concluded.
“To stay healthy is to stay happy!” Was her concluding comment, a definition Racheal clearly lives by and probably that’s why “Delivering happiness” is important for the company.
