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Social Media Users in Thailand Create a Surge in Social Commerce

Social Media Users in Thailand

Social media has taken Thailand by storm, transforming the way people connect, share, and now, shop. In recent years, the country has witnessed a remarkable surge in the use of social media platforms, contributing significantly to the burgeoning trend of social commerce. This fusion of social interaction and online shopping is reshaping the landscape of business and consumer behavior in Thailand.

The Evolution of Social Media Commerce in Thailand

The evolution of social commerce in Thailand has been a testament to the dynamic nature of consumer behavior. Initially, social media served primarily as a platform for interaction and content sharing. However, with the integration of shopping features, these platforms have become virtual marketplaces, offering a seamless shopping experience.

One of the pivotal moments in the evolution of social commerce was the introduction of shoppable posts and features on platforms like Instagram and Facebook. These functionalities allow businesses to showcase products directly within their posts, enabling users to explore, learn about, and purchase items without leaving the app.

Platforms like Facebook and Instagram dominate the social commerce landscape in Thailand, Twitter, with its real-time engagement and concise messaging, also plays a role. With the evolution of Tweet Deleter Tools, Twitter has proven influential, particularly in real-time discussions, customer service, and spreading information swiftly

social media thailand

Changing Consumer Preferences

The shift in consumer preferences towards social commerce is evident in the statistics. Research conducted by GlobalWebIndex highlighted that approximately 83% of internet users in Thailand aged between 16 to 64 years have used social media for product research. Furthermore, around 71% of users in the same demographic have made purchases through social media platforms.

This transition in consumer behavior signifies a departure from traditional eCommerce methods towards a more interactive and engaging shopping experience. The blend of social interaction, entertainment, and shopping has created a unique ecosystem that resonates well with Thai consumers.

Rise of Mobile Commerce and Payment Solutions

The proliferation of smartphones has played a significant role in propelling social commerce in Thailand. The convenience and accessibility offered by mobile devices have made it easier for users to browse, shop, and make payments seamlessly through social media apps.

Moreover, the advent of secure and user-friendly mobile payment solutions has further facilitated the growth of social commerce. Digital wallets and payment gateways integrated into social media platforms provide a hassle-free purchasing experience, enhancing consumer confidence in making transactions online.

social media thailand

The Role of Local Businesses and Entrepreneurs

In Thailand, local businesses and entrepreneurs have been quick to recognize the potential of social commerce. From established brands to budding startups, many have capitalized on social media platforms to reach their target audience effectively.

For instance, street vendors and small businesses have leveraged platforms like Facebook Marketplace or Line Shop to showcase their products and connect with customers directly. This trend has not only expanded their market reach but has also provided a level playing field for smaller enterprises to compete in the digital space.

Future Trends and Opportunities

Looking ahead, the trajectory of social commerce in Thailand appears promising. With advancements in technology, the integration of augmented reality (AR) and virtual reality (VR) within social media platforms is expected to revolutionize the shopping experience further.

Additionally, the emergence of live commerce, where influencers for brands conduct live streaming sessions showcasing products and engaging with audiences in real-time, is gaining traction. This interactive approach adds a personal touch to shopping, fostering a sense of community and immediacy.

Final Thoughts

The surge of social media in Thailand has undeniably catalyzed a paradigm shift in consumer behavior, steering the growth of social commerce. The fusion of social interaction and e-commerce has blurred the lines between browsing, socializing, and buying, creating an immersive shopping experience.

As businesses continue to adapt and innovate, embracing the evolving landscape of social commerce, the opportunities for growth and engagement are boundless. The synergy between social media and commerce has redefined how businesses connect with consumers, making it imperative for companies to leverage these platforms effectively to thrive in the ever-evolving digital marketplace.

In conclusion, the rise of social commerce in Thailand is not merely a trend but a transformative force that has reshaped the way businesses operate and interact with their audience, ushering in an era of unprecedented connectivity and commerce.

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

Pepsi

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

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Old National Bank And Infosys Broaden Their Strategic Partnership.

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Old National Bank And Infosys Broaden Their Strategic Partnership.

Infosys

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

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American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

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Qantas Airways Apologizes After R-Rated Film Reportedly Airs On Every Screen During Flight

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American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

water

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

water

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP

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