Why Thailand is a Great Place to Build and Launch Your Startup
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Why Thailand Is a great Place To Build And Launch Your StartupBy Paul Srivorakul | Ardent Capital
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DKSH Thailand had 40% of the group's $9.3 billion in sales last year.
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Thailand - Online Retail Sales Forecasts
0.0
1000.0
2000.0
3000.0
4000.0
5000.0
6000.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
US
$ M
illio
n
Year
Thailand- Online Retailers Segmentation, Sales Forecast by Category (US$ Million), 2005- 15. Source: ICD Research
Furniture & FloorCoverings
Sports & LeisureEquipment
Home & GardenProducts
Books, News &Stationery
Apparel, Accesories &Luxury Goods
Music, Video &EntertainmentSoftwareFood & Grocery
Electrical & Electronics
0.8B1.3B
1.4B1.5B
2.0B
2.5B
3.1B
3.9B
4.8B
5.6B
0.6B
2010-2015: Compound Annual Growth Rate of 22.78%
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Thailand’s Digital Spending (mil. USD)
67
93
126
2011 2012 2013F
39%
Source: Digital Advertising Association Thailand
34%
% of digital in total advertising spend
2.34% >3%
Digital ad spending is growing very fast
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E-commerce in SEA still has so much room to grow% reach of e-commerce category in Southeast Asia is still below the world’s average of 72% of total internet users.
79.2%
67.2%
66.8%
54.9%
50.7%
50.2%
Vietnam
Singapore
Thailand
Indonesia
Philippines
Malaysia
% Reach of E-commerce Category
72.0%
51.2%
67.0%
70.6%
78.1%
88.6%
Worldwide
Middle East & Africa
Asia Pacific
Latin America
Europe
North America
% Reach of E-commerce Category
Source: Southeast Asia Digital Future in Focus 2013, ComScore
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• We do not start in Singapore, because the exits are too small and the market is too small.
• We do not start in Indonesia, because it is too difficult as a first market, with too many challenges.
• We start in Thailand, because it is difficult, but not too difficult.
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Strong middle class with an appetite to spendLanguage use to be a big barrier, but more Thais speak English today (especially in Tech space)
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Strong middle class with an appetite to spend (big shopping culture)
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Good quality of life and a culture that knows how to have fun and relax
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Good public transportation
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A very trendy culture willing to experiment and try new things
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The “open” culture and freedom of expression attracts people (both good and bad)
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It’s cheap to live here and start a company
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Competition is relatively low, but that is changing rapidly (rocket refugees)
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It is possible to succeed in Thailand, and learn very valuable lessons for expanding into emerging markets.
• Closed language issues
• Banking issues such as cash on delivery, logistics
• Working with global and regional brands
• Proof of concept applicable to other markets
• Market dynamics similar to other markets (ieInternet/mobile penetration, ad spend, ecommerce
After Thailand and Indonesia, we tackle Philippines, Malaysia, Singapore, and Vietnam
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Regional Expansion: Thai e-publishing firm Ookbee continues regional expansion with Singapore Press Holdings
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I’ve always loved Thailand ever since I visited as a backpacker in 1991… It is really a unique culture, known for its food, considerate people, and comfortable lifestyle.”
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Our first ensogo office in BangkokRent = 50,000 Baht / month
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Central Office Entrance Production Team Customer Service
Office Storage & Warehouse Offsite Picking & Packing Office Offsite Warehouse
Second office and warehouse in Bangkok
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Our first office in Philippines
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Our ensogo office in PhilippinesOur first office in Indonesia
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In June, we launched aCommerce with an office and warehouse
Central Bangkok Office, Thailand Marketing Team Events & Publicity
Next Day DeliveryOrder FulfillmentSecure, AC Warehouse in Bangkok
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aCommerce launches at Echelon Singapore
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Ecommerce End-to-End Solutions
Design & Production
eCommerceDevelopment
Call Center
ERP & CRM
Payment Gateways
Warehousing & Fulfillment
Delivery
Marketing
Collectionon Delivery
ChannelManagement
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No. 1 Japanese TV Shopping
Network
Our first clients
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NEW! PopShop is an eCommerce platform for publishers to launch and manage an eStore on their own media site
Our eCommerce platform and services include:
• Warehousing
• Shipping & Delivery
• Creative & Production
• IT Development
• Call Center Services
• Payment & Accounting
• Merchandising & Buying
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Online and offline Pop-Up shops are a great way for retailers to test the sales and marketing potential of their products before heavily investing ecommerce.
PopUp Shops - A smart sales & retailing strategy
Experiment Execute
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Why Thailand?
• Reasonable legal setup (BOI is a great structure)
• Reasonable payments infrastructure
• Good credit card and banking penetration in the population
• Reasonable logistics (transport and traffic are OK)
• High mobile phone penetration including very
• High smartphone penetration,
• High quality mobile broadband, large market, closed language market, price premium on exit.
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The ASEAN Economic Community (AEC) represents
a tremendous opportunity to do business in Southeast Asia
Free flow of goods
Free flow of services
Free flow of investment
Free flow of capital
Free flow of skilled labor
What it comprised of… What it means…
Easier to provide services and establish
companies in the region
More attractive to foreign direct investment
Easier to obtain/move capital across the
region.
Easier to recruit talent from countries in
Southeast Asia
In 2015, Southeast Asia will transform into an integrated market, making it
easier for businesses in Southeast Asia to expand.
Cheaper and easier to sell goods across
borders
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Thank you