Panasonic shifts to ‘shop-front’ strategy to boost sales

PETALING JAYA: Panasonic Management Malaysia Sdn Bhd expects sales to increase by 5% in the financial year ending March 31, 2017 and March 31, 2018, respectively.

Managing director Cheng Chee Chung said the company planned to strengthen its product line-up and increase activities in the shop-front as demand was expected to be nearly flat.
“We are shifting our strategy to the shop-front by paying more attention to promoting product value.
“We also plan to collaborate with other companies to do staff sales,” he told reporters here yesterday after a signing ceremony between Panasonic Malaysia and Ramco System of India.
Present were Ramco Systems CEO Virender Aggarwal and Panasonic Management Malaysia deputy managing director Hiroyuki Imizu.
Cheng said the group would introduce new models with better features across Panasonic product lines.
He added that Panasonic Management Malaysia would ensure the products were affordable as consumers have become more price-sensitive with rising cost of living.
Cheng said the group was insulated from the weakening ringgit as more than 60% of its products were marketed locally.
On the partnership with Ramco Systems, Panasonic would integrate its human resource (HR) and administrative functions for its estimated 20,000 employees in Malaysia.
Cheng said currently, the group’s 21 entities were using multiple systems and with the integration, its HR and payroll operations would be powered by Ramco Systems.
Panasonic will lead the Digital HR transformation initiative with a cloud-based Ramco Human Capital Management solution, covering core HR, time and attendance, talent management, recruitment, planning and analytics, in addition to payroll.
Panasonic has a long standing presence for more than 30 years since it was first established. – Bernama