Initiatives for the development of the digital economy and the start of Asean market integration are set to stimulate a 30% rise in the e-commerce market this year, as the internet is seen as a tool that can support business growth.

Digital marketing firm ReadyPlanet.com expects the number of online merchants to grow by 30% to 1 million this year.

The local e-commerce market is also projected to increase by 30%, chief executive Songyot Kanthamanon said yesterday.

“This year looks set to be the brightest one for digital marketing and e-commerce as firms seek to take advantage of steadily increasing mobile internet usage and the arrival of the Asean Economic Community,” he said.

Mr Songyot identified four key factors that will be important drivers of the e-commerce market this year — a significantly higher number of online merchants; widespread adoption of powerful data analytic tools for digital advertisers; greater popularity of electronic payment systems; and faster delivery of products to online shoppers.

He said the steadily increasing number of mobile internet users was encouraging companies to go online as wireless internet became the preferred channel in consumer communications. This phenomenon can be attributed to the growing number of online merchants and the growth of e-commerce.

“Based on our internal research, the number of online merchants will increase by 30% this year to 1.01 million,” Mr Songyot said. “Of the total, 800,000 will be individuals involved in e-commerce activities, 200,000 small and medium-sized companies and 5,000 large organisations.”

The Digital Advertising Association (Thailand) said that as of last June 30, smartphone users accounted for 30% of the total 94.3 million mobile subscribers.

via E-commerce set for 30% rise | Bangkok Post: business.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

China continues to lead global e-commerce market with over $2 trillion sales in 2022

China accounted for over 37% share in the global e-commerce market, in terms of payments value in 2021. The country was followed by the US with $1.5 trillion, while the UK stood at a distant third with $292.1 billion in 2021

Thailand’s Report of Cybercrime Crackdown in 2022

166 suspects from eight foreign call center gangs were arrested, while 58,463 bank accounts and 118,530 phone lines were discovered to be used for illegal operations and were frozen by authorities

Amazon to invest 190 billion baht ($5 billion) in cloud Infrastructure in Thailand

New AWS Asia Pacific (Bangkok) Region will allow customers to run workloads and securely store data in Thailand while serving end users with even lower latency AWS plans an estimated investment of more than $5 billion (190 billion baht) in Thailand over 15 years