After several years of spectacular growth for Thailand’s e-commerce market, it may be surprising to learn that major online businesses suffered losses of hundreds of millions of baht from last year’s operations.
Is this, industry veterans wonder, the start of another dot-com bubble? Leading e-commerce companies have different views on whether they are in a bubble or a boom.
Riccardo Basile, chief executive of Lazada Thailand, Southeast Asia’s largest online shopping site, says such red financial results are not a reflection of a bubble but the result of initial investment costs that require companies to cover start-up costs. He says all start-ups need to focus on investing in a strong foundation in the first year. For Lazada, that means building an e-commerce ecosystem to enable effortless online shopping and selling covering web and mobile platforms, logistics and a sellers’ centre.
(Source: Bangkok Post)