Ms. Usara Yongpiyakul, CEO of Siam Piwat's Retail Business Group, has announced that the leading real estate and retail developer is expanding its retail business overseas through various online channels and platforms. Siam Piwat is the owner and operator of world-renowned projects, such as Siam Paragon, Siam Center, and Siam Discovery, and a joint owner of ICONSIAM and Siam Premium Outlets Bangkok.
Siam Piwat has made two significant moves in expanding its online presence:
Firstly, the company has ventured into the Chinese e-commerce market by featuring ICONCRAFT products on Weibo, China's largest social media platform, and Taobao, the largest e-commerce platform in the Asia-Pacific region. For the first time ever, the products were promoted through live-streaming.
Secondly, Siam Piwat has entered the cross-border e-commerce market by introducing products from three brands – ICONCRAFT, Ecotopia, and JUNGSAEMMOOL – through Shopee International Platform and LAZgoGlobal to expand its customer base in Malaysia, Singapore, the Philippines, and Indonesia.
“Our target this year is to grow our sales by 30% and we aim to introduce more Thai brands to the global market, especially through online platforms with high potential and growth, to penetrate the affluent customer base overseas," said Ms. Yongpiyakul. She also shared that Siam Piwat successfully expanded into Malaysia, Taiwan, and Japan through collaborations in the previous year and is now looking to enter a large market like China.
To achieve this, the company's strategies include launching popular products that encapsulate the essence of Thainess from ICONCRAFT and creating novel shopping experiences by having key opinion leaders (KOLs) promote the products via live-streaming on Weibo and Taobao to better reach the target group. The first live-stream conducted late in 2022 was met with a spectacular reception, garnering over 270,000 viewers during the live-stream and achieving the sales target in just one hour.
Foods and Thai herb-based skincare products have been very well-received, and Thai artists who are well-known in China have been invited to promote products in ICONCRAFT at Siam Discovery. Siam Piwat will host the second live-stream in May, with a series of live-streams scheduled for the remainder of the year.
To expand its market in Asia, Siam Piwat is featuring products from three brands – ICONCRAFT, Ecotopia, and JUNGSAEMMOOL – on Shopee and Lazada, popular e-commerce platforms. The three brands have also accepted the invitation to launch official stores on both Shopee International Platform and LAZgoGlobal. Customers in Malaysia, Singapore, the Philippines, and Indonesia can search for and order these products on their country's Shopee, which will then be shipped to the destination through cross-border transportation.
Siam Piwat aims to foster sustainability for all parties by launching Thai products onto the global stage and enhance opportunities for growth by increasing its online and offline sales channels towards various high-potential platforms to expand towards a wider range of target groups in overseas markets.
ICONCRAFT, a space of inspiration and a hub of craftworks by artisans nationwide, serves as a gateway for over 800 Thai business owners to enter modern trade and increase their chances of expanding their sales and business globally. The company offers a diverse array of products, from jewelry, souvenirs, home ornaments, design, artworks, Thai lifestyle products, everyday items, and fragrances all the way to food and snacks. Interested buyers can browse the products at ICONCRAFT on the 4th-5th Floors of ICONSIAM and on the 3rd Floor of Siam Discovery.
