Businesses in Thailand are largely little shops and stores that exist without any online presence. However, Thai businesses should consider going online. Southeast Asian neighbors like Singapore have long mastered the art of selling online and profit enormously. Thai businesses, especially those related to the tourist sector, can enjoy similar benefits. So, here are several compelling reasons why your Thai business should consider going online:
Rapidly Changing Asian Marketplace
The Asian marketplace is adapting to technological changes similar to marketplaces in Western countries. Internet penetration rates are rising in almost all Southeast Asian countries, including Thailand. Meaning, people will soon be looking to shop online. Thais and other Asians are also heavy mobile phone users, and early entry into this digital marketplace can guarantee historic returns for your company.
Online Services are Becoming More Affordable even for Small Businesses
For a long time, most businesses were forced to stay offline because of expensive costs related to designing websites and conducting online transactions. As demand for web development Thailand services have risen, the prices have gotten more competitive. Most businesses can receive high-quality web-related services for affordable prices. That’s one obstacle removed. So, you can easily move your Thai business online without having to worry too much about costs.
Increase Targeted Advertising
Online businesses everywhere in the world can attract customers with highly targeted advertising. For example, mobile advertising is a great way to target customers. As Thais are heavy mobile users, your business can easily attract and retain new customers with a digital presence. So, if you set up an e-commerce business, you can sell nationally and perhaps even regionally.
Expand to International Audiences
Digital stores are accessible to customers anywhere. You can reach international customers as well by offering exclusive digital products. Even if you sell non-digital products, you can easily ship internationally using budget parcel forwarding and shipping services. Selling to customers in other countries is not only possible, but it’s also less costly than any other time in history.
Less Costly Marketing
If your business is online, you can benefit greatly from cheap but highly effective digital marketing. TV and traditional paper ads are becoming more and more irrelevant as consumers move onto digital platforms. So, when you have an online business, you can benefit greatly by advertising on social networks and search engines like Google. These ads cost far less than traditional ads, but attract far more customers.
Capture Young Customers to Retail on the Long Run
Older Thai people may still prefer to buy from the local shop, but young Thais increasingly prefer to get their everyday items online. Digital savvy young people are set to change the Thai market forever in the next decade. They will be buying goods and renting services online using their desktops and smartphones. So, the best way to capture this audience is to have an e-commerce store. Once you earn the loyalty of a young customer today, your chances of retaining that customer for life will be quite high.
Last but not least, the most important reason your Thai business should go online is the competition. Even if you are reluctant, you can be sure that your competing businesses are already making the transition to online platforms. If you wait, you will definitely lose. Therefore, learn the benefits of online retail and launch an e-commerce branch for your company today.