10 e-commerce trends in the Kingdom this year

_ M-commerce has been growing strongly thanks mainly to the rapid increase in smartphone and mobile Internet users in Thailand. 

_ Mobile chat and social media is helping e-commerce merchants boost sales via online chat applications such as LINE. 

_ More online stores targeting specific groups are popping up as merchants with physical shops realise they can save costs and target key customers directly online.

_ Since digital products such as software, applications, e-books and other online services are easy to sell online, more Thai e-commerce businesses will be creating digital products and content specifically for local users. 

_ The local e-commerce market is becoming more competitive this year. Since several international vendors have joined the local scene, Thai online vendors will have to up their game and provide better service. 

_ More and more people are choosing to make online payments thanks to better security as well as the ease and speed of completing transactions on the Net. 

_ Consumers have a bigger choice of products at competitive prices and as e-commerce grows in Thailand, buyers find it easier to find the perfect deal. 

_ Advance online marketing is helping merchants understand their consumers, identify the right tools to approach their target audience and save on their marketing budget while boosting sales. For instance, the re-targeting strategy focuses on approaching customers via every channel to persuade them to buy, while targeted marketing aims at specific customers for specific products. 

_ The Conversion Rate (CVR) is one of the most important things that merchants should pay attention to because it shows the rate at which site visitors become buyers. For instance, your online shop can have 10,000 visitors per day, but it would mean little if nobody was buying your product. Hence, the CVR number can become an important tool for merchants to keep track of what’s happening.

_ Managing the growth of an online business can be difficult, especially if sales rise quickly. If you’re dealing with 50 to 100 orders per day, managing the product, making deliveries and communicating with your customers can be very challenging. 

 

Pawoot Pongvitayapanu is managing director of Rakuten TARAD.com and president at 

Thai E-Commerce Association.