Priceza says e-commerce market in H2/18 gets intense, Partnering with banks to facilitate consumers

Information Technology Press Releases Thursday July 5, 2018 15:25
Bangkok--5 Jul--Agate Communications

Priceza points out the cross-border e-commerce has rapidly been growing and the competition in marketplace business is getting tougher, following the entry of e-commerce giants from overseas. Priceza partners with banks to facilitate consumers and further develop Priceza Money, while it also plans to penetrate into Indonesia with its full speed, aiming to gain more shares in the $44 billion market.

Thanawat Malabuppha, Chief Executive Officer and Co-Founder of Priceza Co Ltd, an operator of the country's leading shopping search engine website and application "Priceza", revealed the in-depth statistic data of Priceza in the first half of 2018 that there were over 70 million visits through website and application. The number of the products on Priceza platform has significantly increased by 28% from 28 million items in 2017 to the current 36 million items due mainly to the growth of cross-border e-commerce, allowing users to order from overseas more easily. At present, 17 million items of cross-border products are on Priceza platform and account for 47% of total products.

"In the second half, the competition of the marketplace tends to be more intense because marketplace giants from overseas have aggressively penetrated into the market. Meanwhile, those who suspended their operation in Thailand have also returned. It remains unclear whether we will see any addition of cross-border e-commerce in the market. Therefore, e-commerce entrepreneurs need to adjust themselves and think of more strategies and selling points in order to survive and stay competitive among the fierce competition in the second half of this year as well as the competition with the cross border products," said Thanawat.

Priceza's in-depth data in the first half also found that consumers spent 1,702 baht on average on online shopping via desktop, mobile web and application.

Thanawat added that Priceza has tightened up the partnership with leading banks to provide the convenience to marketplaces, stores and consumers in the high competition era. Apart from helping users make the decision to get the best price, Priceza also supports the information of online payment gateways to users so that they can get the best option for themselves.

"Previously, we launched Priceza Money via https://money.priceza.com which gives the price comparison service of three financial and insurance products including 1. Car insurance, featuring more than 1.6 million car insurance plans 2. Credit card, featuring more than 69 credit cards from leading financial institutions and 3. Personal loans from leading financial institutions. We launched this service because we saw several pain points, for example, it takes too much time to do the traditional car insurance and 90% of drivers don't feel secure when the insurance expires. Hence, we try to develop our platforms and connect with fintech world to solve the consumers' pain points," he said.

Besides Thailand, Priceza plans to focus more on Indonesia's market in the last six months of this year as the value of e-commerce market in Indonesia is forecast to rise to $44 billion (approximately 1.45 trillion baht) by 2025, representing 50% of total value of the e-commerce market in Southeast Asia.

Priceza was established in 2010 by Thanawat and three of his university friends from Engineering Faculty, Chulalongkorn University. For they visioned the future of e-commerce business, they decided to develop the search engine and price and information comparison tools for those who want to shop online. Currently, it operates through www.priceza.com and application in six countries including Thailand, Indonesia, Malaysia, Vietnam, Singapore and Philippines. It claims it has over 8 million users per month and over 12 million visits per month.


Latest Press Release

IDG Capital, Matrix Partners, and Neo Global Capital Invest $20 Million USD into KuCoin to Bring Cryptocurrency to the Masses

IDG Capital, Matrix Partners and Neo Global Capital, industry leaders in technology and venture capital investments, jointly announced today a partnership with Singapore-based international cryptocurrency platform KuCoin, to bring cryptocurrency trading...

ATSI Pinpointing #Change Agent Vision to Accelerate Thai Software Development Thailand Software Fair 2018 will kick off on November 29, 2018 during 08:30 am.- 06:00 pm. at C-Asean, 10th floor of CW Tower.

The Association of Thai Software Industry (ATSI) has reaffirmed its roles, missions, and strategies in accelerating the Thai software industry, emphasizing mainly on digital transformation and technological innovation, being prompt to move forward with...

Roojai.com Eyes Growing Access to Digital Insurance after IFCs Investment

After a recent $7 million Series A investment from IFC, a member of the World Bank Group, Roojai.com sees the expansion of consumers' access to online car insurance products through its portal, a new insurance service especially created for drivers in...

7 ธ.ค. นี้เตรียมโดดร่ม PLAYERUNKNOWNS BATTLEGROUNDS บน PLAYSTATION 4 พรีออเดอร์วันนี้ รับเลยไอเทมพิเศษ!

PlayerUnknown's Battlegrounds (PUBG) เกมต้นฉบับ Battle Royale มาทันให้ทุกคนได้สนุกกันก่อนช่วงเทศกาลหยุดยาวปลายปีนี้พร้อมกับไอเทมพิเศษ ชุด Nathan Drakeจากเกมดัง the Uncharted series และ Ellie's backpackจาก The Last of Us...

ADATA Launches Ultimate SU630 3D QLC NAND SSD Great performance and value make this SSD a viable alternative to HDDs

ADATA Technology, a leading manufacturer of high-performance DRAM modules, and mobile accessories today launched the ADATA Ultimate SU630 2.5" SATA 6Gb/s SSD, which signals its expansion into 3D QLC NAND Flash storage. With next-generation QLC...

Related Topics