Everyone loves a good discount.
What if, every major brands come together and offer an online country-wide sale for all their products? That’s what Thailand Online Mega Sale is all about.
The first ever online event in Thailand starts today (November 26) until December 3rd, will see products and services from numerous e-stores being sold at 20 to 80 percent off. Over 500 websites and e-commerce brands are participating in this event, which the Commerce Ministry and Thai E-commerce Association made happen.
Some of the brands participating in the Thailand Online Mega Sale includes Zalora, Tarad.com, ReadyPlanet, Priceza,
Other than the online product discounts, Thailand Post will also offer a 10 to 15 percent discount on shipping, while banking and payment platform Paysbuy offers reduced fees for transactions during the event to help online merchants reduce costs. The 8 days event is estimated to generate 500 million baht (US$15.7M) online sales.
The online sale is modelled from the successful America’s Cyber Monday. Last year, comScore, a leader in measuring the digital world, reported that Cyber Monday spending soared to $1.46 Billion, ranking as heaviest U.S. online spending day in history.
Earlier this month too, China’s had its own version of ‘Cyber Monday’, which ended with $5.7 billion spent on the nation’s top e-commerce site alone. Click Frenzy, Australia’s very own version of ‘Cyber Monday’ also attracted more than two million shoppers last year, with an estimated spending between $15 million and $20 million.
While the Thailand Online Mega Sale is a good step from the government to push for e commerce, there are several other challenges which the country needs to overcome.
Among the market challenges there is a general lack of trust and an extreme lack of suitable payment systems. In total, there are just 17 million credit cards in Thailand. Many card-holders are reluctant to use their cards online, mainly due to a large scandal in the early 2000?s that still plays on the minds of consumers.
“Most payments have traditionally been executed by either ATM bank transfers or more recently by the introduction of a revolutionary over-the-counter payment system. Many bills, including the ones from internet companies can be settled at virtually all convenience stores, petrol stations and post offices by simply showing a unique QR code which is redeemed during the check-out process.” – Julian Leitner, Venture Village.
Another challenge inherent to Thailand is the expensive distribution channel.
“Generating orders is challenging, but fulfilling them often proves even more challenging in Thailand. Even though the infrastructure in general is good, there are very few logistic providers equipped for B2C operations, partly due to the fact that up until two years ago there was simply no demand for these services. The Thai state postal authority is affordable, but unreliable. Most other operators only cover selective areas of the country and are in general very pricey.” – Julian Leitner, Venture Village.
Of course, with Thailand Post coming in and offering a 10 to 15 percent discount on shipping during the Thailand Online Mega Sale, this shows their commitment and provides them with a good opportunity to rebuild their trust among consumers.