Bangkok--24 Apr--Grayling
BuzzCity Report: Mobile Advertising in Thailand Grew 42% in Q1
Mobile banking increases but many feel apathy towards adoption
According to the latest quarterly report on the mobile internet by BuzzCity, mobile advertising in Thailand grew by 42% in the first quarter of 2104 as value added services began the year aggressively promoting video, news and premium content across operator networks.
“Thailand’s first quarter mobile advertising surge mirrors a global trend that saw Internet ad spending beat broadcast television for the first time last year,” said Wararin Phoonuch-Aphai, BuzzCity’s Country Manager for Thailand.
She added, “With Thai consumers spending more time on their mobile devices for communication, entertainment and shopping, many companies including retailers, banks, and hotels are increasing mobile advertising budgets to maximise opportunities today, and in the future.”
The BuzzCity report also includes a spotlight on mobile banking adoption and reveals mobile users’ attitudes towards mobile banking.
Spotlight on Mobile Banking in Thailand
The report featured results of a survey on mobile banking. Results suggest that security fears seem to be decreasing gradually; 36% of those surveyed this quarter won’t mobile bank because of security fears - a decrease from 2013 when 41% felt concerned about security issues.
Not surprisingly, the adoption of mobile banking has increased; 26% of adults who use the mobile internet now find mobile banking “easy and useful” compared to 20% last year. There is, however, apathy amongst potential users, with just over half of those surveyed (51%) simply not feeling that they “need” mobile banking.
“Anxieties will persist, but this apparent indifference among many users may yet be the biggest hurdle to overcome”, said KF Lai. “These consumer perceptions will play a key role when advertisers plan their campaigns across digital channels”.
Financial services will need to think about other factors that affect responses to their campaigns as 9% feel that they it need to “be offered” from their banks. Parallel with this is consumer confusion; 9% feel mobile banking is too complicated or unreliable (19%) and many aren’t aware if their devices can even be used to activate the service.
Kasikorn Bank is the most popular
The report also looks at the most popular banks among mobile users. In Thailand, Kasikorn Bank is the most popular bank, followed by Siam Commercial Bank, Bangkok Bank, and Krungsri Bank in 4th place.
Notable in the report is the emergence and rising popularity of ‘mobile-based’ banks (where accounts are linked to SIM cards) in developing markets. These new mobile banks, catering specifically to the mobile- only consumer have gained widespread adoption and a rapid market share in a relatively short time.
The BuzzCity mobile banking research was conducted in March 2014 amongst 6000 adults in 20 benchmark countries.