US-China trade war creates opportunities for Thai firms
The US-China trade war and a preference for Thai brands among Chinese buyers have created opportunities for medium-sized and large firms of Thailand, said the Thailand e-Business Centre (TeC).
Illustrative image (Source: internet)Hanoi (VNA) - The US-China trade war and a preference for Thai brands among Chinese buyers have created opportunities for medium-sized and large firms of Thailand, said the Thailand e-Business Centre (TeC).
According to TeC, China is a leading market in e-commerce and e-business, but Thai firms have yet to explore this opportunity.
China now has about 731 million internet users and 448 million online shops. Shopping consumption in China was worth 3 trillion USD, of which revenue from online shopping was 759 billion USD.
TeC said Thailand's e-business trend in 2019 is online-to-offline, with big retailers, e-retailers and e-commerce players focusing more on customer satisfaction and new experiences for shoppers.
Businesses will also embrace data analytics, artificial intelligence and blockchain for collecting information of customers, it added.
Local medium-sized firms with over 10 million baht in revenue a year will have opportunities to export to the Chinese market.–VNA
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