E-COMMERCE player LnwShop has expanded its service offerings in the sector, and expects to support 620,000 online shops by the end of this year.
Managing director Nuttawit Polwattanasuk said LnwShop would add three services for online stores aimed at boosting the productivity of the ventures while stimulating the e-commerce market. Under the latest initiatives, LnwShop has set up a cross-border e-commerce platform, a service it calls Be Brand and short messaging system (SMS) services.
For the cross-border e-commerce platform, the company is cooperating with business partners such as the 11street online marketplace. Shop owners will be able to provide their products via another website, such as 11street, after an update procedure on the company’s LnwMall. The products will then display automatically on both LnwMall and 11street. The shop owners can also check their stock in real time.
The Be Brand service allows online shops to use LnwShop infrastructure and the e-commerce platform as a back office. The shops can also use the service to create their own brands on their websites. It will also provide an SMS service that lets the stop owners keep track of all messages, such as those from customers. This feature is aimed at boosting the vendors’ engagement with their customers.
The firm has about 600 stores that provide their products on the LnwMall e-marketplace and customers can pay via LnwPay. This lets shoppers pay the product fee online and vendors pay the service charges at 3.4 to 5 per cent per transaction.
Nuttawit said the e-commerce and social commerce markets in Thailand were growing steadily in line with customers’ familiarity with smartphones for shopping.
“I think that the social commerce and e-commerce markers also have room to growth since online shopping is easy to access, allowing people to shop more and more via online channels,” he said.
Nuttawit said the company’s e-commerce platform supported more than 500,000 shops and had transactions of over Bt1.6 billion last year. “The online payment system will have an important role in driving e-commerce in Thailand in the next few years,” he said.
Nuttawit said the company’s goal of supporting more than 620,000 online shops by the end of this year represents growth of around 20 per cent. The company targets online transactions of around Bt1.8 billion, an increase of about 15 per cent from last year.