Embracing the future: How small businesses in Thailand can thrive with the rise of Web3 technologies

According to iStock’s visual research platform, VisualGPS, over the past year, people in Thailand and the rest of Southeast Asia are placing greater focus on regaining more balance and control in their lives, with 64% (versus 54% globally) expressing that a successful life is one which my physical, mental and emotional needs are being met. When analyzing the specific impact technology is having on consumer well-being, research found 86% of people said to be excited about the impact of technology on wellness.

A holistic lens on health has been increasing in Thailand. A report by McKinsey found that consumers intend to spend more money on products and services that improve their health, fitness, nutrition, appearance, sleep, and mindfulness. This elevated consumer focus has led to an increase in technology-driven wellness trends, from blockchain-powered health apps like Health Wallet to peer to peer wellness marketplaces such as Take Me Tour.

“We are seeing a shift in how technology is depicted visually, with more emphasis on how it guides and supports us in leading healthier lives, physically, mentally and emotionally," commented Kate Rourke, Head of Creative Insights APAC at iStock. “By visualizing new technology-driven wellness trends, small and medium-sized businesses in Thailand can reflect an understanding of how technology can be used to support and guide individuals to holistic health, staying ahead of the curve in meeting the evolving needs of health-conscious consumers and building stronger connections with their audience.”

As Web3 technologies continue to revolutionize the business landscape, their impact on wellness is also expected to evolve. A survey conducted by the National Economic and Social Development Council in Thailand last year warned of a wave of "burnout syndrome" among Thais. VisualGPS findings also revealed that work-related fatigue and its impacts on their day to day remains a significant concern. Currently, the top two priorities for people in Thailand and the rest of Southeast Asia are achieving a work-life balance and improving physical health. 
 
With many juggling professional and personal life, VisualGPS research also found people are increasingly interested in how emerging technologies, like the metaverse or AI powered tools, can impact different aspects of their lives both at home as well as work. Globally, 60% of people are excited to see what the future holds as technology evolves, this number is even higher in Southeast Asia, with 7 in 10 expressing enthusiasm about the potential of emerging technologies. Similarly, iStock image and video searches in Thailand for “AI Health” solutions rose, indicating a significant interest in how technology can impact personal wellness.

We have also learned that the key reason why the artificial intelligence and virtual worlds are appealing to people is due to its perceived access to more immersive experiences and opportunities, including new ways to make money.

According to Rourke, most of the appeal Thais have on artificial intelligence and virtual worlds is due to its perceived access to more immersive experiences and opportunities, including new ways to make money. As SMBs and SMEs prepare for the rise of Web3, she shared three key takeaways to visualize wellness as emerging technologies continue to gain momentum: 

• Portray technology as a guiding and supportive force for wellness, showcasing how it enables personalized and improved health.  
• Highlight how technology seamlessly integrates into individuals' daily lives, impacting various aspects and being an integral part of their wellness journey.  
• Showcase new wellness practices made possible by technology to illustrate the future possibilities of wellness.  

To find imagery and videos that better visualize the impact technology on wellness, go to https://www.istockphoto.com/.