SMEs urged to embrace e-commerce
The Federation of Thailand Industries (FTI) has teamed up with Total Access Communication (DTAC) and Siam Commercial Bank to promote small and medium-sized enterprises (SMEs) to promote the e-commerce channel -- CloudCommerce.
CloudCommerce is a one-stop solution for cross-border e-commerce. The channel aims to help sellers unlock the potential of global markets by connecting with other popular e-marketplaces such as Amazon, eBay, Alibaba, Instagram and Facebook.
The platform will enable SMEs to manage both e-marketplaces and stock, and will also connect with payment gateways worldwide as well as accommodate multiple languages and currencies.
Established over a year ago, CloudCommerce is one of the startup companies in DTAC Accelerate Co's portfolio.
Apichit Prasoprat, the FTI's deputy secretary-general, said the federation hopes SMEs will join the e-commerce marketplace as it will help them enter the global market and reach new foreign customers.
"Thai SMEs an important sector which are very capable of driving the country's economy in the long run," he said.
"Joining a competitive e-commerce channel will help them grow in line with the government's Thailand 4.0 initiative."
The FTI expects 4,000 SMEs to join the CloudCommerce programme.
Sompoat Chansomboon, managing director of DTAC Accelerate Co, said the e-commerce market in Southeast Asia has potential for significant growth.
"The e-commerce channel in Asean represents less than 10% of the total market, which is lower than the global average, so there is ample room for Thai SMEs to expand their competitive products globally," he said.
Mr Sompoat added the e-commerce market in Thailand has a high growth rate.
"The Thai e-commerce market had a value exceeding $2.9 billion last year," he said.
"With a projection of 14.5% annually, the market will surge to $5.8 billion in 2020 and reach $11.1 billion in 2025."
Mr Sompoat said many investors from China, Japan and the US are interested in the Southeast Asia market.