The Marketing Association of Thailand (MAT) suggests local marketers strengthen product branding and consider cooperation with brands in Southeast Asia that provide more expansion opportunities to new markets.
"In the second half of this year the economy is projected to recover as disbursement of the government's 2025 budget has kicked off, and there are signals of more policy rate cuts from central banks around the world," said Buranin Rattanasombat, president of the MAT.
In 2025, the economy is expected to continue its rebound, in part thanks to the tourism sector, he said.
However, US trade policies under Donald Trump could change global trade and the economy, said Mr Buranin.
Mr Sunard Thanasanaksorn, Managing Director of Accenture Song (Thailand), the world’s largest tech-powered creative group at Accenture, said with artificial intelligence fast becoming a regular part of daily life, he believes brands should embrace generative AI (GenAI) capabilities to engage with consumers.
Mr Sunard said GenAI is a tool that can help marketers analyse large datasets on consumer insights and patterns, plan their marketing strategies and design marketing campaigns.
Mr Buranin said Thai marketers should strengthen their brand positioning image to create more value and increase their products' competitiveness.
Moreover, brand differentiation can add value, enabling companies to navigate the risk of a price war, he said.
Thai brands should focus on sustainability issues, including climate change, and create value for society as a whole because consumers take these issues seriously, said Mr Buranin.
He suggested Thai companies consider tapping into foreign markets such as Southeast Asia, which offers a growing market of more than 600 million consumers.
"The regional market has a lot of potential," said Mr Buranin.
"I suggest Thai brands collaborate with brands in Southeast Asian nations, leveraging the freshness of the market and the quality of Thai products to increase the customer base for each market."