When it comes to doing wholesale business in another country, entrepreneurs ought to study their market and the available opportunities and challenges that may occur along the way to make business goals a reality.
If you are looking at Asia for your next business, the Kingdom of Thailand in Southeast Asia could be your best option. It is full of opportunities and possibilities for your business to thrive and develop. Let’s take a look at the prospects of wholesale in Thailand and the challenges that you may need to confront.
Opportunities for Wholesale Business in Thailand
1. Thailand is the best place for startups.
It is understood that Thailand is a country filled with blooming startups. The World Bank ranks Thailand in the 21st position on “ease of doing business” out of 190 countries in 2020. This is evident by the growth of the latest innovations, tech giants, trade gurus, and various business sectors, including wholesale and export. Furthermore, the government’s efforts to streamline the business approval process by adopting digital systems for government services and improving rules and regulations to catch up with recent developments effectively reduce the time to start a business from 29 days to only 6 days.
Additionally, the Thai government adopted an economic model called Thailand 4.0, with the first target being the “S-Curve” sectors, including next-generation automotive, smart electronics, medical, tourism, agriculture, and biotechnology. Of course, the wholesale and retail industries also benefit greatly from this economic model.
The ease of conducting a business also makes for a highly competitive market with numerous competitors to be aware of, ranging from corporations to SMEs. Therefore it is vital to study their tactics and sales strategies in order to be able to compete with existing businesses in Thailand.
2. Diversified Manufacturing Sector
It is essential to know the goods produced in your target country’s market. As for Thailand, its manufacturing sector is big and extremely dynamic. A wide range of goods is produced in this nation, such as jewelry, furniture, rubber, fish products, and agricultural goods. This robustness in the FMCG and manufacturing departments has enabled Thailand to be a leader in commerce and trade within the region. Besides, this allows wholesalers to be able to trade products within their expertise.
The corporate income tax rate is high, which is about 30 percent. If you are about to establish wholesale in Thailand, keep in mind its high corporate income tax rate.
3. Price-Conscious Consumers
The majority of Thai consumers are extremely price conscious. Research shows that less than half of Thai consumers buy based on brand-name recognition, and first-time buyers often buy on “price” alone. This means that most Thais are likely to purchase goods at lower or discounted prices. Said behavior is certainly beneficial to wholesale businesses since customers can buy in bulk at a lower price per unit.
Thai consumers are less likely to purchase goods from new brands or recently established foreign businesses due to the trust issue and their relationship with the existing brand. In order to solve this issue, sale campaigns would do the trick, whether it would be sale promotions, holiday sales, or extra options at a discounted price. All have proven to be successful marketing strategies.
All the above are a few opportunities and challenges of starting a wholesale business in Thailand. However, there are countless opportunities to be explored in the land of smiles. One of them is starting your wholesale business with AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION.
AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION
Is the largest and most comprehensive wholesale center in Thailand and Southeast Asia, providing support to wholesalers who are planning to start a business in the country.
First, AEC TRADE CENTER has an effective Solution Service Center (SSC) that offers exclusive support services for wholesalers, entrepreneurs, business partners and customers such as Business Matching Area, B2B/B2B2C Parking Space, Loading Zone, Live Feeding & Studio, and various more.
Next, with the concept of the Food Destination Center, wholesalers can find quality and variety of food products and services at the best price from manufacturers and dealers.
With our vision to create a superior wholesale online experience, AEC TRADE CENTER also integrates the services with PhenixBox, a B2B/B2B2C omni channel wholesale platform via the website and application that provides seamless O2O trading. Along with unique features such as Group Purchase, Seller Store, and E-Catalog all of which come with smart functions including:
- Quotation – Customers can request a quotation directly from the seller (Store).
- Multi-level Procurement – Add up to 5 approvers (Supervisor)
- Compare Product – Select up to 5 products for comparison
- Product QR Code – Scan the QR Code to easily view the product details
Allowing for convenience, safety, and 24-hour trading for both wholesalers and customers. If you are interested, please feel free to visit: https://www.phenixbox.com/
Our Chinese alliance, “Yiwu” from CCC Group, is known as “the largest small commodity wholesale market in the world.” In 2020, they opened their physical store called “YIWU SELECTION THAILAND SHOWCASE” at AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION, BANGKOK, THAILAND. Their service will help customers find a reliable partner in China who can offer qualified service and trustable after-sale service. They are one of the key online stores in PhenixBox that will help you find great China suppliers with reasonable prices and more related services.
Free Register for Online Sellers:
For wholesalers who are interested in joining the AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION, please see the contact details below.
AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION
💻 Website: https://aectradecenter-th.com/
💻 PhenixBox: https://www.phenixbox.com/
👥 Facebook: https://www.facebook.com/aecpantip
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💬 Line: @aecpantip