"From Morgan Stanley's eCommerce Global Research in April 2023, we see a definite e-commerce trend shift from B2B to D2C, which is being adopted across the globe, prominently in the US and Australia. Although presently 95% of e-commerce in ASEAN countries is being undertaken by a third-party marketplace player such as Lazada and Shopee. among others, we believe the direct-to-consumer (D2C) trend will evolve rapidly in the region. With a regional total e-commerce worth of US$149 billion in 2023, an estimated increase to US$199 billion in 2024, and forecasted to reach a value of US$285 billion by 2027, we believe the timing is right to introduce this D2C concept in Thailand", remarked Mr. Varot Kamolchotiros, Plugo Thailand's Country Manager.
Plugo completed its Series A funding with a total of US$9 million in late 2022 with investments raised from Altos Ventures (USA) and Access Ventures (HK). It now has offices in Indonesia, Korea and Thailand.
"Riding on our success in Indonesia, we are delighted to introduce Plugo into the Thai e-commerce landscape. Although a relatively new player in the e-commerce arena, we are happy to have gained considerable trust in a short period of time since our establishment in 2022, and are proud to now have over 7,000 business users. We hope to replicate our success in Indonesia to be able to empower businesses, especially SMEs, in Thailand. Whether you are using Facebook, Tik Tok, Lazada, Shopee, Instagram or any other third-party channels to sell your goods, we can bring them all together on Plugo to make life easier for you", said Mr. Kyungmin Bang, Founder and CEO of Plugo.
In January this year, Plugo was appointed as an authorized partner of WeverseShop, which provides a wide range of authentic products from popular K-Pop performers such as BTS, BLACKPINK and New Jeans. Furthermore, while an average of 26 million visitors explored Plugo's brand websites in 2023, resulting in a consistent 9% conversion rate from visits to purchases, a record of 47,000 products were sold in one day. In addition, the highest single-month GMV last year was US$ 6.3 million, equivalent to THB 220 million.
"In Thailand, we are offering businesses a very affordable entry monthly package of THB 1,480 inclusive of 7% VAT. Interested users can contact us on www.plugo.co.th for an initial complimentary consultation as different businesses have different technical requirements. However, It is important to emphasize that the added value that Plugo also brings as a D2C platform is that business owners can have direct access to their customers' database and, therefore, can gear their marketing or promotional efforts to each specific target group when and as needed", commented Ms. Muntana Saengchanwattana, Product Owner of Plugo Thailand.
Source: Image Impact Ltd.
