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Haikou Jiangdong New Area
InfoQuest

Thai Commerce Ministry uses digital platforms to create 10 new business models

April 23, 2020


Abstract : Mr. Wuttikrai Leeveeraphan, director general of the Department of Business Development of the Ministry of Commerce said the Covid-19 pandemic had a widespread impact on all sectors and cost the global economy.

InfoQuest, (April 22, 2020) -- Mr. Wuttikrai Leeveeraphan, director general of the Department of Business Development of the Ministry of Commerce said the Covid-19 pandemic had a widespread impact on all sectors and cost the global economy. Of these, the halt of economic activity to reduce the spread of disease has had an impact on investment and consumption, while the bankruptcy has hit the basic economy. Consumer behavior is expected to change after the pandemic crisis eases. And communication technology in the digital age will play a role rapidly, and the e-commerce ecosystem will grow by leaps and bounds. Many industries have begun to attach importance to e-commerce, including logistics, commodity transportation, payment systems, automated product sales systems and so on. Enterprises that have already begun to adjust their business models, develop backup operational plans, and prepare for transformation will occupy a better position or become industry leaders in the wake of the pandemic crisis.

In order to create market opportunities, make full use of new media to establish business network and expand the opportunity for Thailand's services to enter regional market, The Department of Business Development launched the project—"Creating Market Opportunities for the Service Sector by 2020" to enhance the competitiveness of enterprises and prepare them for the growth in the service sector. The agency will establish a partner network across the country to incorporate operators in the target industries, such as spa, massage, pension business, health care business, etc., especially those related to tourism services, into the commercial interconnection network. It will also incorporate 150 categories of services into the national and local tourism systems, with an aim to help Thailand's services enter regional market via a commercial interconnection network created through joint participation of operators in the project. In addition, it will create 10 new business models to attract more consumers with features and highlights.

Service sector is an industry that responds to customer needs and meets customer expectations, and sells consumption experience to consumers, which makes its marketing different from that of general tangible products, as in addition to providing customers with the products they need, it also needs to care for the feelings of customers. Operators must be professional and committed to delivering the highest level satisfaction to customers in order to meet customer needs in the digital age without boundaries.

Source: InfoQuest, by Phana / Tanawat / Rachada, translated by Xinhua Silk Road

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Keyword: Thai commerce ministry digital platform

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