N-Squared eCommerce, Thailand’s Leading Online Distributor, Set Its Sight for ASEAN, Expands to New Markets with a Healthy Profitable Business
Aug 21, 2019 Picture: Bangkok, Thailand - N-Squared eCommerce (NSQ), the leading online distributor and turnkey e-commerce solutions provider in Thailand, distributor of more than 60 leading domestic and international brands, leapfrogged ahead with the skyrocketing sales of the overall portfolio. NSQ generated 735 million baht in revenue and recorded its 2018 year-end profit of 37 million baht, registering a compound annual growth rate (CAGR) of 246% since 2015. The company is confident that its value in Thailand alone will exceed 1.4 billion baht this year. Additionally, it plans to expedite its current presence in Malaysia, Singapore, and the Philippines, while opening new markets like Vietnam and Indonesia by the end of 2019. Nuttapon Boonpinon, Managing Partner, N-Squared eCommerce Company Limited, said, "The e-commerce market in ASEAN still has a significant opportunity for growth. Currently, e-commerce sales account for only 3% of the overall retail market, compared to China's 30% and the United States' 10%. Hence the tremendous growth opportunity for ASEAN markets. Moreover, one of the main drivers of the current growth is due to the rapid expansion of various eMarketplaces in the past three years." N-Squared eCommerce is committed to developing proprietary tools and technologies made for the ASEAN markets, including having an omnichannel ERP system that streamlines order fulfillment, stock management, and customer database across multiple platforms. The company also uses big data to understand consumers' behavior better and facilitates decision making on things like promotional mechanics, product bundling, demand forecasting for mega campaigns, or online advertisement targeting. Social Commerce, or shopping on social media like Facebook, Instagram, and Line, is also on the rising trend, accounting for 51% of the total online sales. We wanted to capture this opportunity and began developing an AI Chatbot solution with end-to-end fulfillment capabilities early in 2019\. From our... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, N-Squared eCommerce, Thailand’s Leading Online Distributor, Set Its Sight for ASEAN, Expands to New Markets with a Healthy Profitable Business, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: ASIA TODAY - Wednesday, 21 August
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