SCB teams up with TAT and TCT to launch www.SCBShopDeal.com, bundling special tourism deals from Thai SMEs for post-pandemic recovery

Stocks and Financial Services Press Releases Friday April 24, 2020 11:48
Bangkok--24 Apr--Siam Commercial Bank

To help revive the economy post COVID-19, Siam Commercial Bank (SCB) continues to provide further support for Thai SMEs, with the latest example being the bank teaming up with the Tourism Authority of Thailand (TAT) and the Tourism Council of Thailand to initiate an on-line marketplace to boost revenues for tourism related entrepreneurs.   The Bank has worked with its subsidiary SCB10X Co., Ltd. to develop the   www.SCBShopDeal.com website that will act as a marketplace for special deals from SCB’s SME customers.   In the initial phase, the platform will let SMEs in the tourism and related supply chain industries list their offers and packages on the website free of charge.   The website will enable SMEs to promote their discount deals at minimal cost, making their products more appealing for consumers dealing with impacts from the COVID-19 pandemic.   Deal hunters will be able to shop and enjoy the best deals ever offered by Thai SMEs, which will boost morale by helping everyone overcome this crisis together.   It is expected that the “SCBShopDeal” site will help boost sales by more than 50 million baht by June 2020.

SCB President Mrs. Apiphan Charoenanusorn said that impacts of the COVID-19 pandemic have been spreading to every segment of Thai society, especially SMEs, which form the core of the nation’s economy.   The Bank recognizes the vulnerability of business operators in many business segments and has launched assistance measures to help fix problems effectively, through either debt suspension or soft loans.   However, it is evident that such measures are not enough to alleviate all burdens, as the main problem faced by SMEs lies in the deep decline in sales, with some businesses forced to discontinue operations, particularly those in the hotel, restaurant, and wellness and lifestyle segments.   Generating income and cash flow are critical factors in allowing SMEs to continue their businesses, so SCB conceived building an effective on-line channel to help increase SME incomes.   Using its strength in technology, SCB has worked closely with SCB10X to develop a digital platform, www.SCBShopDeal.com or “SCBShopDeal”, as a center to list special deals from SCB’s SME customers pitched at consumers who prefer special discount deals for use at a later date, such as hotel rooms, restaurant vouchers, spa packages, and many more.   It is gratifying to note that SCB has received good support from the Tourism Authority of Thailand (TAT) and the Tourism Council of Thailand (TCT), so that affected SMEs can list their special deals on the website completely free of charge.   SCB hopes that this “SCBShopDeal” site provide another channel to generate sale and revenues to help Thai SMEs survive this difficult time.

SCB10X CEO and SCB President Dr. Arak Sutivong noted that the COVID19 crisis has been a catalyst forcing every segment of Thai society to leap into the digital arena more quickly.   With changing consumer behavior, business owners are compelled to fully transform their traditional business operations into on-line channels or digital platforms to assure their survival.   SCB and SCB10X do not hesitate to embrace their digital knowledge, expertise, and capability in helping support both our nation and our customers, particularly SMEs in the tourism industry that was the first to be hard hit by the pandemic. Our support will be provided through adoption of SCB’s strength in technology to develop a digital distribution channel platform for Thai SMEs. This will help them generate income amid the outbreak while everyone is forced to maintain their social distance.   We sincerely hope that www.SCBShopDeal.com will act as an effective distribution channel to help maintain SME businesses during the current crisis.   In the long run, it will also serve as a sales channel when the situation returns to normal. We are willing to encourage Thai entrepreneurs to take advantage of the COVID-19 crisis for learning and adapting digital technology to increase the flexibility of their businesses, allowing them to better cope with challenges and steadily sustain their businesses in the future.

Tourism Authority of Thailand Executive Director of Tourism Products Department Mrs. Rujiras Chatchalermkit noted that COVID-19 has prompted the tourism industry to grind to a halt.   It is expected that the number of foreign tourists this year will be much lower than in past years, directly affecting entrepreneurs in the tourism industry.   With the situation not looking like it will recover soon, the TAT has deemed it critical to help businesses so that they can survive.   This crisis will provide a good opportunity for rebuilding a sustainable tourism industry for a quick recovery.   By doing that, the industry will be ready to operate instantly post-crisis, while gaining momentum between domestic and foreign markets.   It is evident that in order to better sustain the industry it will be necessary to prioritize focus on the domestic market.   Once the pandemic is over, the number of foreign tourists is not expected recover instantly, so in order to stimulate the economic and tourism atmosphere we are in need of support from Thai people to boost domestic businesses.   We anticipate that Thais are waiting for the time when they can go out and travel safely and happily again.   The TAT is more than grateful to witness strong support from the private sector for tourism related industries, such as that offered by SCB, all while rendering full cooperation for marketing and public relations with the TAT.   We are confident that the www.SCBShopDeal.com website will help support business operators prospering again.

Tourism Council of Thailand President Mr. Chairat Trirattanajarasporn said that a number of factors since the previous year have adversely affected confidence in the tourism industry, including a domestic economic slowdown, impacts from PM 2.5 pollution, drought, and last but not least the coronavirus pandemic, which is expected to continue for a while.   More than 95 per cent of TCT members are affected by those factors, with many being involuntarily forced to close their businesses.   It is also anticipated that by year-end 2020 the crisis will lead to a chain effect, prompting many to exit the industry for good. With that kind of impact, many workers face unemployment.   Despite the government’s short-term stimulus measures, business operators need to adjust themselves and seek means to recover their business and even thrive in the long-term.   The launch of the www.SCBShopDeal.com website will provide an option to tangibly boost sales and revenues.   SCB’s strong potential in providing access and communication channels to consumers free of charge to entrepreneurs could drastically help lower their costs.   As a representative of entrepreneurs in the tourism industry nationwide, TCT would like to thank SCB for its support and is pleased to recommend that affected business operators join this newly developed platform.   We are hoping that every Thai with the available resources travels inside the country as much as they can to help us overcome this crisis together.

Thai people are encouraged to join hands to support Thai businesses by visiting the www.SCBShopDeal.com website to find special deals from entrepreneurs in tourism related industries, such as hotels, tour packages, restaurants, retails segments, which will cover operators who are SCB customers, members of the TAT network, and TCT members. Commencing from 24 April 2020, shoppers will find discounted goods and services offered all in one place.   It is expected that by June 2020 there will be more than 200 different entrepreneurs listing their special deals on the website, leading to more than 50 million baht in sales.   This will give more power to Thais so that they can help business sectors survive this tough moment.

SMEs interested in listing their discount deals on the www.SCBShopDeal.com website can contact their respective organizations, namely the Tourism Authority of Thailand (TAT) or Tourism Council of Thailand (TCT).   SCB customers can contact their relationship manager or the SCB Business Call Center at 02 722 2222, or any SCB branch nationwide, or https://scbsme.scb.co.th/


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