SET-listed CP Axtra is unfazed by the entry of Chinese online retailer Temu into Thailand as the company plans to improve its online shopping platform by focusing on the customer experience.
The flood of cheap Chinese products into Thailand is expected to grow as Temu gains traction.
Existing online retailers are already struggling in a highly competitive market, leading to intensive price wars.
Shaun Wong, group chief transformation officer for Makro wholesale business at CP Axtra, said the company is not affected by Temu as it already prepared for market newcomers.
"Temu is just another player, which we expected. Actually, we predict many more players will enter the market, which is inevitable," Mr Wong said.
"It has not affected us, but we must be well prepared."
He said the company will accelerate its omni-channel sales, which have a promising growth outlook.
CP Axtra has two main online shopping platforms: Makro Pro targets the wholesale segment, while Lotus's SMART focuses on the retail segment.
To compete with the increasing number of cross-border retail platforms, Mr Wong said the company would try to differentiate itself by providing a better experience for customers.
He said the company must be agile amid rapidly changing consumer behaviour by providing quality goods and services, both online and in physical stores.
"If we can serve our customers better, they will stay with us. Competitors come and go all the time," Mr Wong said.
He said the company is deploying artificial intelligence (AI) to transform the way it works, aiming to enhance efficiency and the accuracy of the decision-making process.
"We will try to find solutions for a better working environment and to reduce repetitive tasks, bearing in mind that AI will not replace humans," Mr Wong said.
Recently the company signed a memorandum of understanding (MoU) with the National Innovation Agency, seeking to strengthen employees' capabilities to drive business, he said.
The MoU encompasses several objectives, including designing and developing innovation programmes for CP Axtra employees, and creating a network of agile startups and tech companies.
Mr Wong declined to comment on the government's 10,000-baht digital wallet handout scheme.