How will the price comparison site do in Thailand, especially with a four-year-old local competitor who has just received funding?
“With 66 million inhabitants and a growing and increasingly affluent middle class, Thailand is one of the most attractive and flourishing markets,” said Christian Schiller, Co-founder, PricePanda. He today announced the launch of the price comparison website in Thailand, positioning it as something customers need to find the right deal.
Furthermore, the company is not letting up in its pursuit of Southeast Asia as an e-commerce hub, with Thailand being its fifth stop in the region. Earlier, the Rocket Internet-backed company had launched in Singapore, Malaysia, Indonesia and the Philippines.
“Now, we want to kick off the transition of Thailand from a traditional offline market to a prosperous online community,” he added. The goal for now will be to “create full transparency on products, prices and services” — a solution for users who, unfortunately, have to cursor-fight through pages and pages of e-commerce mess. This will be achieved by showing different offers from various e-stores, and supporting these merchants by redirecting customers to their websites.
Thailand also offers a high potential for pushing m-commerce, shared Schiller. In that case, users will be able to use the service on their iOS or Android device. He had noted in a previous statement that in November 2013, smartphones and tablets managed to account for one-third of all traffic on the website.
“We now have a record of 45 per cent and are optimistic that this growth is not about to stop. … Until now, the mobile traffic on PricePanda (has) gained two percentage points each month in this year. If this growth will continue, in June, the 50 per cent mark will be broken, creating a huge drive of traffic,” he added.
Speaking of smartphones and tablets, there are now over 500 products from those two categories listed on PricePanda Thailand. In an official release, the company stated that it will soon be adding products from categories such as computer, software, health and beauty, home appliances, music, games and others.
When asked about how he intends to be different from longtime price comparison website Priceza in Thailand, Schiller told e27, “We, at PricePanda, apply global quality on local needs as we use our international experience to offer precise listings with a country-related focus. Furthermore, our website offers the easiest handling through a clear structure and highest reliability as we only list active offers.”
Priceza, which has been around since 2010, also commented on competitors entering the fray. Thanawat “Wai” Malabuppha told this author, “Welcome to Thailand! I’m delightful that there will be more investment coming into Thailand. It will create new jobs in my country and the overall Thailand e-commerce market will grow (too).”
The first in the Southeast Asian country to receive any funding from Japanese CyberAgent Ventures, Priceza launched in Indonesia last May. Wai added, “(There is) not much competition in Thailand compared to what happens in Indonesia. … We are doing quite well and we will be more aggressive in terms of our quality of information and products this year.”