Growing opportunities for business
It is not a mystery that Thais are spending more time online. In 2019, Thai people were reported to spend as much as nine hours per day on average browsing the internet . Because of the versatile nature of online content along with the increased consumption of online media, digital advertisements have become an effective form of marketing for various businesses. With the rise of smartphones in Thailand, social media networking along with easy-to-digest content are key to successful advertisement campaigns. Some popular marketing trends include video content advertising and social media marketing which also includes influencer marketing.
A plethora of convenience for consumers
Since digital consumption among Thais is evolving, many service providers must be on the move to meet these demands in terms of giving consumers choices for ultimate convenience such as digital payment solutions. For instance, banks in Thailand have been offering their customers online banking options that allow them to make financial transactions anywhere and anytime. As of the third quarter of 2019, more than half of the internet users in Thailand used their mobile apps for banking purposes. In addition to the facility of payments, Thai consumers are searching for more personalized digital devices along with enhanced customer experience. Digital household devices have become in-demand items in Thailand and smart home appliances were indeed the most popular device for several Thai households.
A new generation of media consumption
In addition, the popularity of digital online channels in Thailand has influenced consumers to become business owners themselves. The internet economy grew to almost three percent of GDP in 2018 but this is still low compared to other countries in the region. Thailand is going through some digital enhancements according to the Thailand 4.0 strategy planned by the government, which could bring about a higher share of online media users and greater opportunities in the future.