Thailand is better recognized as the second-largest consumer market for eCommerce businesses after Indonesia. The increasing number of mobile and internet users in the country has created a favorable environment for the growth of eCommerce businesses in the country. If we talk about the current revenue rate of the online businesses in the country, it may come out to be somewhere around $3.5 billion; however, it is expected to grow up to $5.8 billion by the end of 2022.
Those who are looking for a few reliable details on how to run a profitable eCommerce business in Thailand are advised to go through the details below.
The biggest social commerce market:
The market reports reveal that the young shoppers in Thailand these days prefer to make most of the purchases from social media channels. Therefore, the eCommerce business owners are using social sites such as Instagram and Facebook for promoting their products and services online. There are almost 10000 eCommerce stores and online businesses that one can find on Facebook and Instagram alone. The new business owners that are planning to set up a business online need to prepare to compete with these existing online platforms.
Payment preferences:
One of the most widely followed modes of payment for a purchase in Thailand has been cash. Almost 75% of the businesses love to do shopping online with cash on delivery payment option. However, the new generation is now getting attracted to a few other options as well including mobile banking, debit card, credit card, e-wallets, and internet banking as well. These instant payment methods have made it pretty simple to place orders online. Businesses are also designing mobile apps to ease the purchase experience for end-users while integrating easy and safe payment options to these platforms.
Improved logistics:
As online businesses are growing fast, logistics services are in huge demand to ensure the reliable delivery of products at customer doorstep. In the past few years, a considerable number of changes have been brought to the supply chain industry. Today there are several companies providing cheap and high-quality delivery services. The central warehouses have created small drop-off and pick-up destinations all over the country to ensure the easy flow of goods. Online business owners are now finding many convenient options to sell products online without worrying about complications involved in the shipping.
There is no doubt to say that plenty of new opportunities have emerged in the Thai business industry over the past few years. No matter what kind of niche you are planning to sell online, you can ensure reliable services in the country with ease. The idea is to follow adequate legal practices for company registration in Thailand. Prefer to do an in-depth market analysis and pick the most reliable niche idea to capture audience attention. Start promoting your products and services online and soon you will be able to build a solid brand impression in the market.
Those who are looking for a few reliable details on how to run a profitable eCommerce business in Thailand are advised to go through the details below.
The biggest social commerce market:
The market reports reveal that the young shoppers in Thailand these days prefer to make most of the purchases from social media channels. Therefore, the eCommerce business owners are using social sites such as Instagram and Facebook for promoting their products and services online. There are almost 10000 eCommerce stores and online businesses that one can find on Facebook and Instagram alone. The new business owners that are planning to set up a business online need to prepare to compete with these existing online platforms.
Payment preferences:
One of the most widely followed modes of payment for a purchase in Thailand has been cash. Almost 75% of the businesses love to do shopping online with cash on delivery payment option. However, the new generation is now getting attracted to a few other options as well including mobile banking, debit card, credit card, e-wallets, and internet banking as well. These instant payment methods have made it pretty simple to place orders online. Businesses are also designing mobile apps to ease the purchase experience for end-users while integrating easy and safe payment options to these platforms.
Improved logistics:
As online businesses are growing fast, logistics services are in huge demand to ensure the reliable delivery of products at customer doorstep. In the past few years, a considerable number of changes have been brought to the supply chain industry. Today there are several companies providing cheap and high-quality delivery services. The central warehouses have created small drop-off and pick-up destinations all over the country to ensure the easy flow of goods. Online business owners are now finding many convenient options to sell products online without worrying about complications involved in the shipping.
There is no doubt to say that plenty of new opportunities have emerged in the Thai business industry over the past few years. No matter what kind of niche you are planning to sell online, you can ensure reliable services in the country with ease. The idea is to follow adequate legal practices for company registration in Thailand. Prefer to do an in-depth market analysis and pick the most reliable niche idea to capture audience attention. Start promoting your products and services online and soon you will be able to build a solid brand impression in the market.
