Bangkok company Ascend Commerce has spent more than Bt300 million (US$8.555 million) branching into eCommerce by developing WeMall, which it hopes will feature more than 1000 brands next year.
Ascend Group CEO Punnamas Vichitkulwongsa says the ASEAN eCommerce industry has outpaced the global growth rate. Thailand’s share of the $15 billion online retail market in the region is around $2 billion, with the country ranking fourth behind Singapore, Indonesia and Malaysia.
Ascend GM Seubsakol Sakolsatayadorn says online shopping now accounts for 2.3 per cent of the total retail-market value in Thailand, with the growth rate for developed nations ranging between 10 and 12 per cent.
He says WeMall will focus on end-to-end services and promote itself as the branded marketplace with trusted mechanics for online shoppers. The outlet offers two forms of partnerships, full-scale services and self-formulated services.
“Brands can run their own online outlets via ready-to-use features. When the business climate turns increasingly competitive, they will be able to adjust their strategy in a timely manner.”
WeMall has been running trial services for a month, during which it attracted more than 2 million visitors, and more than 60,000 products were sold and delivered.
“In its pivotal phase,” says Seubsakol, “WeMall features more than 15,000 items from more than 1100 brands in nine main product categories: beauty and healthcare, home appliances, electronic devices, computers and laptops, lifestyle, mums/kids/babies, cellphones and tablets, and cameras and gadgets.”