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Temu Is Rumored To Be In Contact With Thai E-commerce Industry Professionals
Jayson 23 Jan 2024 09:26
Thanawat Malabuppha, honorary chairman of the Thai E-commerce Association and co-founder and CEO of Priceza, said that competition in the Thai e-commerce market will become more intense this year.
"I think the competition between e-commerce platforms will be more intense this year, especially between Shopee and TikTok Shop, which ranks No. 1 in the market. We should see each platform willing to subsidize and add a large number of discount codes to expand their customer base."
Additionally, Mr. Thanawat said competition from existing platforms will become more challenging. Because a new blockbuster platform is about to enter the market, and that is "Temu".
"Temu will definitely enter Thailand because now they have started to contact people who I know in the e-commerce industry, and I believe if they use the same method, he will be willing to subsidize more, just like when Shopee first entered the market, this It's an opportunity for both buyers and sellers," he said.
The reason why Temu has been able to grow so quickly in such a short period is because of its strategy, which is to start from a place where sales are not high, but far away from competitors and are of little interest, until sales continue to grow, as well as a low-price strategy.
Previously, "Temu" had successfully entered the US market in a similar way.
He also concluded: Each platform must find its own selling point and gain market advantage in the increasingly fierce competition.
"It is expected that each platform will try to promote different selling points in order to meet the needs of different users. For example, Shopee should emphasize diversified products based on its market leadership, while Lazada should focus on LazMall or introduce more brands to sell products on the platform. "
"I think the competition between e-commerce platforms will be more intense this year, especially between Shopee and TikTok Shop, which ranks No. 1 in the market. We should see each platform willing to subsidize and add a large number of discount codes to expand their customer base."
Additionally, Mr. Thanawat said competition from existing platforms will become more challenging. Because a new blockbuster platform is about to enter the market, and that is "Temu".
"Temu will definitely enter Thailand because now they have started to contact people who I know in the e-commerce industry, and I believe if they use the same method, he will be willing to subsidize more, just like when Shopee first entered the market, this It's an opportunity for both buyers and sellers," he said.
The reason why Temu has been able to grow so quickly in such a short period is because of its strategy, which is to start from a place where sales are not high, but far away from competitors and are of little interest, until sales continue to grow, as well as a low-price strategy.
Previously, "Temu" had successfully entered the US market in a similar way.
He also concluded: Each platform must find its own selling point and gain market advantage in the increasingly fierce competition.
"It is expected that each platform will try to promote different selling points in order to meet the needs of different users. For example, Shopee should emphasize diversified products based on its market leadership, while Lazada should focus on LazMall or introduce more brands to sell products on the platform. "
