Aug. 24 – The digital economy is one of the engines expected by the public and private sectors to drive the country's development into the future. But access to opportunities in the digital economy for both buyers and sellers in the world of online commerce. It is still a matter that needs a lot of improvement, namely that consumers around the world have changed their behavior, especially after the outbreak of COVID-19. By turning to spend more in the world of online commerce through various platforms, causing E-Commerce to grow exponentially.
eMarketer, the world's leading online market research company It is predicted that the global E-Commerce market is likely to expand by 8.1-9.4% during 2023-2026, despite slowing down the heat. But it is higher than the normal retail market, which is expected to expand only 3.4-4.3%, while many Thai entrepreneurs, especially SMEs, do not dare to enter the online trading arena.
Dr. Rak Worakijpokathorn Managing Director Export-Import Bank of Thailand (EXIM Thailand) revealed that online trading or e-commerce is still likely to grow well in many markets, providing opportunities for Thai entrepreneurs. Especially SMEs entrepreneurs who should accelerate adaptation. to enter a larger international market and grow faster than the Thai economy with the purchasing power and popularity of the population in that country who are interested in and popularizing Thai products Including products with Thai identity such as food, herbs and health products.
The structure of Thai SMEs is more or less contradictory. There are 3.18 million SMEs entrepreneurs in the whole system, accounting for 99.6% of the total number of entrepreneurs in Thailand. But it plays a role in the economy, only 35% of the gross domestic product (GDP), while there are 13,580 large enterprises, accounting for 0.4%, but having a role of 59% of the country's GDP. All 3.18 million SMEs are exporters less than 30,000 or less than 1% only. can increase the proportion of SMEs as exporters
Dr. Rak said that EXIM Thailand, under the role of Thailand Development Bank, aims to promote the development of the industrial and business sectors. in connection with sustainability and did not abandon the little ones From analyzing data and surveying the needs of SMEs entrepreneurs, it was found that SMEs did not dare to export because of fear, such as not knowing customers. I don't know who to sell stuff to. Not good at foreign languages fear of being scammed, therefore not wanting to take risks, etc. EXIM Thailand therefore joins hands with the public and private sectors to develop the competitiveness of Thai entrepreneurs. to be ready to start or expand an export business Along with the development of an E-Commerce Platform, Thai SMEs have a shortcut to enter the global market more conveniently.
EXIM Thailand has collaborative projects with world-class platform executives such as Amazon.com to support the development of Thai SMEs through training and education. give advice Providing useful information and funds to enable Thai SMEs to effectively and consistently initiate cross-border online trade.
Mrs. Poranee Chambrong, Senior Manager, Customer Account Management, Amazon Global Selling Thailand, said that Amazon's study found that Thai products are exported to the US market. There are many categories such as food products. Jewelry, textiles, housewares, furniture, which are items that foreign consumers are interested in and are trends that correspond between sellers and buyers on the Amazon Platform if Thai entrepreneurs can capture this business opportunity. May help Thai businesses have the opportunity to expand more markets such as Japan, Australia, Singapore, United Kingdom. and the European Union
Mrs. Poranee said that from Amazon's data collection, it was found that 75% of Thai entrepreneurs think that Language is one of the top barriers to expanding into international markets, and Amazon has a language support team and recommends consumer search analytics tools. To access insights so that sellers can use this information to improve their products. Develop business networks through cooperation with various agencies such as the Department of International Trade Promotion. Ministry of Commerce Including developing business towards sustainability under the model Bio-Circular-Green Economy
EXIM Thailand's Managing Director said that e-commerce marketing in the face of economic slowdown Thai sellers or exporters may need to offer products that are economical and worthwhile, for example, through group promotions. Selling cheap if buyers group together to order in large quantities. which, although the profit per piece will decrease But offset by increased sales volume This gives consumers a good experience in purchasing products and may come back to buy again. In addition, having a game or a small giveaway event will help attract consumers to spend longer on the platform, increasing the opportunity to buy products and increase More engagement with stores or platforms, such as playing games to water plants for buyers to receive coins for future purchases.
“Online commerce is not an option. But it is a way to survive in business in the modern world. EXIM Thailand therefore joins hands with alliances both domestically and internationally to provide knowledge, opportunities and capital to Thai entrepreneurs. especially the small ones can compete in the world market where there is still demand and power to buy more Thai products Even in times of crisis or challenges, there are opportunities for those who have the courage and readiness to move forward in business to meet consumer behavior and lifestyles in a new normal. It diversifies markets and creates new opportunities in an ever-changing world that is driving towards a digital economy,” Dr. Raks said. – Thai News Agency
Source: Thai News Agency