Market reports: sell online in Thailand

Having an online shop in Thailand market is the opportunity to increase the number of its customers and increase its turnover thanks to a unique sales location, which is accessible 24 hours a day and 7 days a week and that from anywhere in the world. Once the decision is made to embark on e-commerce in Thailand, some entrepreneurs are ready to sell everything … and anything. That is where market research companies in Thailand will come to help you.

Sell online to Thai consumers implies to get market data on Thailand’s industry

But to sell products, you have to be present on the web.

Without a website adapted to the Thai market, you always have physical store solution but your results will certainly not live up to your expectations.

Whether you want to sell physical or digital products on the internet, there are many possibilities:

  • E-commerce (selling on the net physical products)
  • The drop shipping (sell on the internet products without buying them)
  • Affiliate programs (sales commission …)
  • White brands (customized sales sites)

For the survival and success of your e-commerce business in Thailand, you must imperatively do a market research and evaluate the commercial potential of the products you want to sell. In the same way, if you have decided to create your own online store but you do not have a product idea for sale online, this article should help you to see more clearly.

You can start by simply opening a business or professional account on a well-established e-commerce site. If you master English I recommend you to put your products on English sites too, because in the case of Amazon and eBay this is where there is the most volume. It must of course be remembered that it is necessary to be able to send the articles later and that this may be complex if one does not know the local customs rules. Inform yourself before!

market-research-thailand

The logic would be to make bigger profits by selling very expensive items like furniture or high tech equipment, but in reality on the Thailand’s market it is with consumer products that you will earn the most money.

Passionate Thai consumers and those who practice a hobby do not look at the expense when it comes to finding a rare item that will complement their collection or a technical product that will allow them to improve the practice of their sporting or artistic activity. Market research companies in Thailand will help you to identify the best opportunity on the Thai market.

You may wonder: What to Sell on the Thailand’s Internet? There is an infinity of possible answers. You can really sell any products on the Internet: digital products, physical products, services, advice, advertising …. Working with a market research firm will help you to better answer this question.

Do not be a victim of fashion by selling only trendy products on your online store. A future entrepreneur might think he has identified a product with high potential by saying he will have no problem developing his sales by selling the biker boots that women are snatching right now … The problem, c Is that they will probably (no longer) be fashionable at the end of the season in Thailand.

See also:

https://ecommerceguide.com/sellonline/

marketdata.set.or.th/

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Market reports: sell online in Thailand

Selling Online in Thailand: How to Operate an E-Commerce Company?

New Trends of Selling Online in Thailand

In Thailand, the full line online stores go down well with local people. There are seven whole category online stores out of the top 10 e-commerce companies in Thailand. From cosmetic to furniture, they sell various kinds of products instead of single variety except for Zalora and Munkong Gadget.

However, WhatsNew, a local e-commerce corporation, is developing a vertical e-commerce business model, facing the fierce competition with the stronger enterprise like Lazada, whose ranking is at the top of the list according to the page visits in Jan 2015.Compared with Lazada’s discount to attract consumers, WhatsNew chooses to focus on finding high qualified consumers, aiming to touch them by their services and emotional appeals. As Harp Ryan once said, a co-founder of WhatsNew, “We will make a loss if all of us compete with each other by a brutal price war. Nobody will benefit except consumers”. There are also some changes in the payment term. Consumers in Thailand prefer cash on delivery to online payment, which accounts for about 60% of all.

Top 10 E-commerce Sites in Thailand

By page visits, we could get a ranking of the top 10 e-commerce sites in Thailand. Top 3 companies are Lazada、WeloveShopping and Tarad respectively. It is learned that e-business is always led by the capital in this emerging market in Thailand. The dominant enterprises usually have large scale fund and resources as backing. For instance, Lazada has obtained the funding from Rocket Internet, from which Zalora also have got 238 million dollars as an investment. At the same time, WeloveShopping occupies a significant position in the department store with the great support of local telecom tycoon True Corp.

It is nothing strange that they are top 10 according to the background investigation. Consumers in Thailand are increasingly enjoy trying out new products, but they are still faithful to the brands they first knew. To our surprise, there are only 30% of people in Thailand saying that they are totally easy to change the brand. Naturally, WeloveShopping has been doing the same thing for more than nine years. And Tarad also has a thirteen-year experience of the operation.

But, popularity cannot be equal to profit. The top 10 list is only based on the visits rather than sale or a number of orders. And there are also some other standards we could use, just like the conversation rate of orders.

 

Selling Online in Thailand: How to Operate an E-Commerce Company?

Market Research in Thailand

Market Research can be defined as a conduct of collecting, analyzing and integrating information concerning a certain market, including current product or service, prospective purchasers, and their buying practices.

The accuracy of the information is the prime factor that should be considered by all merchants. Also, market research report should be accurate but also comprehensive. Because investors need a significant amount of background information to judge and make final decisions.

Generally speaking, market research consists of two parts:

  • Direct information. You can get the information from investigating and researching by yourself or someone working for you.
  • Indirect information.  Someone has finished the market research and released related reports in public or privately. For instance, you may obtain official data from government agencies or other authorities.

If you want to get direct research, you can get both general and specific information. General information could give you a profile of the market and then help you to determine a precise issue. While the specific one needs concrete methods to make it accurate. Naturally, you need to pay more for the latter.

You have several methods to communicate with your targeted group including emails, cold calls, and personal visits.

If you choose a mail to contact, there are several tips as follows:

  • Short and clear
  • Within two pages
  • The reason for doing this
  • An incentive to do so

However, mail response will be still low even with the tips presented above, compared with telephone interviews. And here are some guidelines concerning cold calls:

  • Prepare well and speak fluently.
  • Confirm the name of the respondent at the start of the conversation.
  • Ask for further communication.

A personal interview always regards as one of the most effective methods of marketing research. It can be simply divided into group survey and in-depth interview.

You can also get existing information from government agencies, newspapers, all kinds of associations, and so on. Indirect information always comes from the following:

  • Public sources. You can get an enormous amount of useful information from public utility departments without paying.
  • Commercial sources. You could get professional market research from the specialized agency from some associations or institutions of consultation.
  • Educational institutions. There are so many meaningful researchers in colleges and academies. However, the information released by them has always been overlooked.

There are some helpful government publications as follows:

Among the best commercial sources of information is Encyclopedia of Associations, and the Encyclopedia of Business Information Sources.

Finally, there are educational institutions that could provide useful information at little or no cost. Contact the university for further communication.

For instance, when you conduct market research in Thailand, you should gather profiles of this nation including its political information, culture, and customs. As mentioned above, you could get these from official documents freely.

Also, if you want to get the whole picture of Internet industry in Thailand, you could search from social medias by yourself or purchase some industry reports released by associations and professional institutes.

 

Market Research in Thailand