Bangkok--27 Nov--Priceza
Priceza.com, by Mr. Thanawat Malabuppha, CEO & Co-founder of Priceza Co., Ltd., and the President of the Thai E-Commerce Association organized the 'Priceza E-Commerce Summit 2020,' the largest seminar of the year on e-commerce trends. The seminar brought together experts and speakers from over 15 national organizations, with over 500 attendees on Wednesday, 27 November 2019 at S31 Sukhumvit Hotel.
Mr. Thanawat Malabupha said "Priceza has gathered a large number of online stores from a variety of categories whether websites or marketplaces. Currently, Priceza's platform has over 18 million visits per month, with an average purchase rate of 8.71% this year compared to 4.69% from last year. This reflects a rocketing growth of up to 86%."
The Priceza E-Commerce Summit 2020 put a great emphasis on modern business trends in the era when everyone has its own communication tool and media technology. According to the statistics, Thais spend an average of 9 hours 11 minutes per day surfing the Internet, which is the 3rd highest in the world. Online shopping is one of the top 5 online activities on which Thais spend the most time. These phenomena are indicators that the e-commerce business is growing, and many opportunities are open for business growth.
As for the 2020 business trends, Mr. Thanawat Malabuppha shared his prediction on the 3 following areas:
- Trend No. 1: E-Commerce will be global.
E-Commerce is already a borderless trade, but by 2020, it will go not only beyond national regions but across countries. Based on the product information from 3 famous marketplaces in Thailand, the number of products in 2018 was 74 million pieces, and in 2019, the number of products has grown to 174 million or by 2.4 times. With a closer look, 77% of them are products from China. In addition, with the government policy of the Free Trade Area which will be in effect in 2020, shipments from abroad will be faster than before.
- Trend No. 2: DTC – Direct to Consumer
Brands will have to build a direct relationship with customers, which is consistent with the data of the abovementioned 3 famous marketplaces in Thailand. According to the data, there are an average of 44,000 brands and a total of 1,700 brand's official shops, or 4%, showing that the number of brands that open stores in the marketplaces is still small. In 2020, it is expected that the numbers of brand's official shops and products will increase by up to 3 times. More opportunities will be open for different brands to reach consumers directly with no need to rely on traditional sales channels anymore.
- Trend No.3: Thailand as the World's Leader in Social Commerce
Thailand will be the leader of the social e-commerce market. Based on the research finding from "Conversational Commerce: the next gen of E-com" by BCG (Facebook, Aug 2019), up to 40% of Thais, which is the highest proportion in the world, revealed to have shopped through social commerce platforms. By 2020, social commerce platforms such as Facebook, Instagram, and Line will allow customers to shop and make payment in one application. No need to waste time logging in to an online banking application to make payment at all.
Another highlight of the event was a prediction that 2020 would be the golden year of "E-Commerce Delivery," when food delivery companies (Grab, Get, Line Man) will deliver not only food but also E-Commerce products directly to consumers' hands within the same day (Same Day Delivery). As a result, the competition among the logistics businesses next year will definitely be more ferocious than in 2019.
Priceza.com is the No. 1 online product search and price comparing platform in Thailand based on the information from 56% of consumers using smartphones to compare prices of different brands before making a purchase (data from : MarketBuzz 2017). This was where Priceza began as a hi-tech platform to assist consumers in making purchase decision to get the best products and services.