Mediaboss Marketing

Despite enjoying growth in 2013, Internet retail sales here represented only 1 per cent of the total, and they are expected to remain at this share through 2018.

Thailand is currently one of the largest markets for Internet retailing in Asia, valued at US$1.054 billion (Bt33.9 billion), and is expected to see its value grow by 74.9 per cent over the forecast period to reach $1.843 billion in 2018. However, the bigger picture remains that the share of Internet retailing in Thailand is weak and will continue to stagnate.

The slow uptake of Internet retailing is mainly due to strong competition from store-based channels. Grocery retailing dominates the Thai retail market at 63 per cent and is seeing chained players moving aggressively in the expansion of new outlets in urban and regional areas.

With the opportunity to see and touch the products before buying, most Thais still prefer to visit stores for shopping. This combined with low trust in online payment and the delivery process has benefited the store-based channel.

Low Internet penetration is also limiting the uptake of online retailing in Thailand. The country lags behind other emerging regions in terms of Internet users, with only 28 per cent of the population using the Internet last year.

This is much lower than the global Internet penetration rate of 35 per cent. In addition, delays in telecom infrastructure projects and investments due to severe floods over the past few years have led to slow progress for improved broadband connectivity within the country, Euromonitor says.

"Without more efforts by the Thai government to develop the country's telecommunications network, Internet retailing in Thailand is unlikely to grow faster," said Mylan Nguyen, retailing analyst at Euromonitor International.

"For Internet retailing to take off, retailers will also need to develop more innovations and services to make it easy for consumers to buy but also to access products, such as quick deliveries or convenient click-and-collect locations."

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Internet retailing marketing share to stay at 1% until 2018

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Portland, Oregon (PRWEB) September 12, 2014

ShoeFitts Marketing shows financial services firms how to develop a social media policy with comprehensive steps and strategies in the newly released Best Practices for Financial Services Firms: Rolling Out a Social Media Policy white paper. Despite todays overwhelming demand for social media connectivity, many firms and broker dealers in the financial services industry are still reluctant to create a social media policy, explains ShoeFitts president Sheri Fitts.

The white paper starts by explaining general social media use and the growing popularity among all age groups, and then covers key federal rules and stipulations, important policy components, guidelines for documentation, archiving and monitoring, plus advisor training suggestions, says Fitts.

While compliance concerns are a leading reason that many financial services firms are reluctant to create a policy, Fitts says the lack of a policy is even riskier. Without a documented policy, firms are still at risk, particularly if advisors are using social media sites without guidance.

In fact, Fitts says, advisors are often the ones pushing for some type of policy. Advisors understand this is a people business and know clients and prospects want to make connections on social media.

In addition to summarizing current survey and research information on social media use, the ShoeFitts white paper also includes thought-provoking suggestions from firms who have already rolled out a social media policy. We wanted firms to hear the implementation steps and important training recommendations that others in the industry have shown to be successful, says Fitts. The white paper includes pointers from social media experts at The Principal Financial Group, Securities America, and LPL Financial.

A joint effort by compliance, legal, sales, and marketing staff members is critical, Fitts says. The best social media policies consider all aspects. The regulatory rules must be paired with a comprehensive understanding of how social media plays into an overall marketing plan. The positioning must then include training for social media users with varying skill sets, plus future training, and content support.

While its important to have a policy in place, firms must also be prepared to help advisors create and curate content, notes Fitts.

Likewise, she says social media engagement requires ongoing attention and evaluation. The rules, the usage, the platforms, and the types of content all continue to evolve. This is not a one and done project.

About Sheri Fitts and ShoeFitts Marketing Sheri Fitts is a celebrated global speaker and presents keynote addresses, breakout sessions, webinars, and daylong boot camps. She engages audiences by sharing stories of her own experiences and experiments, successes and learning moments, as well as a sweeping range of marketing and social media strategy-based topics, weaving humor and sincerity into her delivery.

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ShoeFitts Marketing Creates Social Media Best Practices Guide for Financial Services Firms

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