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25 Sep 2017

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“Creating a Customized Experience”: Key Strategy for Small Retailers (Current Issue No. 2868 Full Ed.)

 We at KResearch are of the view that competition in the online-shopping market here is heating up as Thai and international companies have steadily launched their own e-marketplaces. An online platform is intended to facilitate small retailers in many ways, including a user-friendly access for marketing, secure payment services through various means and fast delivery via numerous service options.

However, small retailers using such sites are now facing competition from other retailers in the same or similar e-marketplaces. Aside from that, the owners of e-marketplace websites may themselves eventually become rivals because they can use the customer database gained from the site to market their own products. This will become more apparent ahead when e-marketplace website providers seek to bolster their revenues. Therefore, such online platforms may not always be the best opportunity for small retailers, as initially thought. Despite easy access to the online platform, small retailers may find it hard to operate successfully later on.

To stay afloat, KResearch is of the view that small retailers should focus on creating a customized experience of their own and constantly striving to meet the needs of customers looking for new products, because such thinking not only induces customers to buy their products again and again, but happy clientele may also give their friends a word-of-mouth recommendation toward the retailer's own site if they have had a satisfying experience with it, thus creating a secure customer base to rely on for perhaps years to come.

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