Malina, our Group CEO, delivered a keynote at the Financial Times’ Future of Retail Summit in London, where she shared her vision for the future of retail.
Her philosophy is simple yet profound: “Retail is far from dead. It just needs to be better.” Drawing from her background as a competitive athlete, Malina compared the retail industry’s transformation to the mindset of professional sports—where setbacks are met not with excuses, but with a relentless drive to improve. For AS Watson, that means embracing change, adapting to evolving customer behavior, and investing in innovation.
One of the most compelling moments of her keynote was her take on the shift from SEO (Search Engine Optimisation) to GEO (Generative Engine Optimisation). As generative AI becomes a new gateway for product discovery, AS Watson is reimagining how it tells stories.
She explained, “You don’t just sell shampoo. You tell the story behind the ingredients.” This storytelling approach is powered by content studios across markets—from the UK to Malaysia—where teams create engaging, conversational content designed to resonate with Gen AI platforms.
In a bold move, AS Watson is transforming its store teams into local influencers. Every store now has its own social media presence, and colleagues are trained to create content that connects with their communities. “Each store is a community,” said Malina. “Our colleagues are not just retailers—they’re marketeers, CRM managers, and even part of our supply chain and security teams.”
AS Watson’s O+O (Offline plus Online) strategy is more than a buzzword—it’s a business model rooted in customer loyalty and data. Malina shared a compelling financial insight: customers who shop both offline and online spend three times more than those who shop only in-store. By integrating physical and digital experiences, AS Watson is building a seamless ecosystem that meets customers’ needs wherever they are.
Despite global economic uncertainty, AS Watson continues to see growth in categories like lipstick, hair care, derma skincare, and fragrance—a trend Malina attributes to the emotional value and connection these products offer, especially among younger customers influenced by social media. When a product carries emotional value, particularly one amplified by social media, price becomes secondary. Malina explained, “If there’s emotional value behind it, they don’t mind spending.”
Closing her keynote, Malina offered a powerful reflection on leadership: “Leadership is not about being an expert. It’s about being a learner, a connector, and a community builder.” In a rapidly changing retail landscape, the ability to communicate strategy and build a sense of belonging across teams is what sets great leaders apart.
She added, “Great leadership isn't just a style; it's about active, authentic communication. We need to ‘walk the talk’ and ‘talk the walk’. Not only executing the strategy you believe in but also being able to articulate it clearly and inspire others to rally behind it.”
