Line Thailand is gearing up to support business with data management services and non-fungible token (NFT) related solutions to drive growth for customers amid economic volatility.
"The key to success for Thai businesses is being able to collect, analyse and process data to increase their ability to compete on a similar level as international brands," Norasit Sitivechvichit, chief operating officer of Line Thailand, said via a virtual news conference.
"This is especially critical in today's fast-changing world, where data plays a vital role in brand growth."
According to Mr Norasit, there is a challenge for data collection due to some regulations, such as the Personal Data Protection Act, which is scheduled to come into force in June this year.
Enterprises are now focusing on consumer rights and are placing emphasis on acquiring consent from customers when revealing their data, Mr Norasit said. Obtaining direct information from users may become more challenging as an increasing number of user protection measures are being introduced, he noted.
Line has established data solutions to assist Thai businesses in learning more about data management and developing the skills necessary to manage data.
It has developed a data management solution, called MyCustomer, for large brands to store consent for first-party data, both from the Line platform and others, in one database to be used for data analysis.
Mr Norasit said Line has introduced a new solution called Business Manager, which simplifies data management for small and medium-sized enterprises. The solution helps streamline data administration on the Line platform between Line Official Account and Line Ads Platform.
The solution will help brands analyse data and present goods and services that meet customer needs, Mr Norasit said.
These help Thai businesses to manage data properly and be in compliance with personal data protection legislation and privacy policies, he noted.
From 2022-2023, Line is moving into new areas, such as developing business solutions for NFTs.
Mr Norasit said Line wants to become the infrastructure of choice for those interested in conducting business with digital assets.
Together with Line Consumer Business, the platform will not only be able to provide creators to brands, but will also be the centre of NFT knowledge for businesses, Mr Norasit said.
The business customer unit of Line saw a growth of 47% in digital service usage via Line API (Application Programming Interface) from 46 billion messages in 2020 to over 67 billion last year.
Financial institutions continue to be the primary users of the Line API, Line Thailand indicated.
The luxury product group saw high domestic consumption, with a 200% leap in media spending on the Line platform from 2019 to 2021.
The government and public sector saw a 482% year-on-year increase in Line API use in 2021. The real estate, tourism and retail sectors also saw over 100% growth in Line API use.