Jotun Decorative is a leading paint supplier to commercial buildings, public buildings and homes, serving both professionals and consumers, directly and through a substantial network of Jotun Multicolor centres.
The coronavirus pandemic resulted in significant declines in sales activity in the second quarter of 2020, especially in South East Asia and the Middle East. However, by quickly implementing business continuity measures, implementing cost controls, utilising digital technologies to strengthen relationships with key stakeholders and using social media and other online tools to manage the launch of new products, the company posted another year of positive results in the Decorative Paints segment.
Jotun’s regional diversity allowed the company to offset weak demand in some markets with strong demand in others. For example, slow sales in Malaysia in April were offset by strong market activity in Norway, where consumer demand during the lockdown period reached record highs. Likewise, Jotun made up for some postponed mega-projects in the United Arab Emirates with excellent results in Vietnam.
Jotun successfully managed the digital launch of the 2021 Global Colour Card Collection, the foundation for the company’s sales efforts. Known as ‘Rediscover’, the collection features four different colour schemes, which include Nordic Blues, Earthy Shades, Nostalgia Pastels and Soft Neutrals. Unable to host live events, Jotun organised a series of webcasts customised for different regions to present new products. Jotun also launched a new, global consumer website with enhanced functionalities to showcase both interior and exterior decorative paints. Products launched in 2020 included Jotun Essence Cover Plus in South East Asia, a new premium product in Jotun’s Fenomastic range in Turkey, and Jotashield Carbo, a premium anti-carbonate paint solution for car parks in the Middle East.
By staying close to customers, Jotun gained market share in many markets in 2020. While the pandemic’s effects may continue to create uncertainty in some countries, the company is confident that as more markets open up, consumer spending will increase and many delayed mega-projects will resume, supporting more robust growth in the years ahead.