LINE Thailand has showcased its achievements in 2021, successfully driving Thai businesses towards digital transformation. As it accelerates into 2022, the focus is on enhancing and empowering Thai entrepreneurs to compete with global businesses. This includes promoting the use of data analytics to study consumer behavior and designing brand products with business tools specifically created to meet the needs of Thai entrepreneurs, complemented by continuous educational support on the platform. Additionally, plans for 2023 aim to propel Thai businesses to leap ahead in the new world.

 

Mr. Narasith Sitthiwetchwit, Vice President of Operations at LINE Thailand stated that 2021 and 2022 have been challenging years for everyone, with significant adjustments in lifestyle and business operations. The initial changes were merely adaptations to immediate challenges, but many have now become mainstream behaviors, such as working from home, using delivery services, and new economic behaviors like earning income through digital currencies (Play to Earn).

Furthermore, there are many unpredictable changes occurring, such as the resurgence of COVID-19, rising energy prices, and the global inflation trend. These factors contribute to increased costs for LINE as a leading digital platform in Thailand, both in daily life and business. Therefore, LINE is ready to participate in promoting adaptability among Thais to these changes with comprehensive and diverse tools, enabling Thai entrepreneurs to transition into the new digital-driven business world and prepare for upcoming technologies.

Showcasing LINE's Role in Driving Thailand's Digital Economy

In the past year, Thailand has seen significant growth in its digital economy. The index measuring the use of digital services through LINE API grew by 47%, from 46 billion transactions in 2020 to 69 billion transactions in 2021, reflecting the business sector's adaptation to digitalization with LINE as a key driving platform. The financial services sector remains the leader in utilizing LINE API to meet consumer needs comprehensively, while the luxury goods sector has also seen a substantial increase in domestic consumption.

The investment value on LINE for Business has skyrocketed by 200% from 2019 to 2021. As online shopping behaviors have become mainstream, the luxury goods sector has effectively capitalized on this trend for continuous growth. Interestingly, the public sector and public services have emerged as the fastest-growing digital segment in 2021, with digital transactions through LINE API increasing by 482% compared to 2020, followed by real estate, tourism, and retail sectors, all showing over 100% growth in LINE API usage. This clearly demonstrates LINE's contribution to driving Thailand's digital economy and enhancing access to digital services for the entire Thai population in the past year.

 

 

Enhancing Potential and Elevating Thai Businesses to International Standards

For 2022, LINE continues to aim to be the primary platform for businesses to effectively transition to digitalization, with goals to enhance efficiency, reduce costs, and create added value for Thai businesses. LINE is committed to developing the platform and supporting both small and large businesses to compete with international brands, especially in today's rapidly changing business environment. The key to empowering Thai entrepreneurs to adapt to digitalization lies in knowledge and understanding of data, which will play a crucial role in business development.

However, challenges remain for Thai entrepreneurs, particularly in understanding and utilizing the data they acquire. Global regulations and policies regarding consumer data collection are evolving, requiring organizations to be stricter and more focused on obtaining consumer consent for data disclosure. Acquiring consumer data may become more challenging due to increased regulations. LINE has always recognized the importance of this and has developed data management solutions that comply with these evolving regulations, are user-friendly, and highly effective, enabling Thai businesses to understand and advance their data management to meet international standards.

Previously, LINE provided data management solutions for large brands under the name MyCustomer, which allows brands to collect data with direct customer consent (1st party data consent) from within the LINE platform or integrate internal brand data from other channels into one place for effective data access and analysis. This year, LINE has developed a new solution called Business Manager, a simplified data management solution aimed at small and medium-sized businesses that do not require complex data management.

This solution focuses on managing data generated directly on the LINE platform between LINE Official Accounts and LINE Ads Platform, enabling brands to analyze and present products and services that resonate with customers, leading to improved efficiency and reduced costs in closing sales. Both solutions are crucial for Thai businesses, large and small, to access and utilize data effectively under the Personal Data Protection Act and privacy policies that are significantly impacting marketing changes for businesses worldwide.

Promoting Brand Value Development

In an increasingly competitive business environment, beyond operating at lower costs and greater efficiency, enhancing brand value for customers through products, services, or experiences is crucial for businesses. In a highly competitive market, brands must create recognition and build trust simultaneously. In addition to the Verified Account that helps establish brand credibility, this year LINE is ready to enhance the value of Thai businesses through the BLUE BADGE program, which provides knowledge, ranks, and rewards brands that deliver excellent customer experiences in terms of products, services, and design, ensuring a beautiful, user-friendly experience that meets consumer needs. This not only benefits sellers in terms of image and credibility, adding value to brands in the digital age but also benefits consumers in choosing products from trusted stores that meet international standards.

Additionally, in 2022-2023, LINE will prepare to advance into the new business world by developing solutions related to NFTs (Non-fungible Tokens). LINE aims to be the foundational platform for Thai businesses to engage in marketing with digital assets, including sourcing creators for brands and serving as a knowledge hub for using NFTs for business (NFT for Business) in collaboration with LINE Consumer Business, which has recently announced its direction in the NFT industry.

“Since the outbreak of COVID, the world has changed every day, in ways we can no longer predict. In these challenging times of facing such drastic changes, individuals, countries, or businesses that are ready to adapt and compete are more likely to survive. LINE, as a major platform focused on developing tools and solutions for Thai businesses, reaffirms its commitment to be a driving force alongside Thai businesses and people in solving problems, enhancing efficiency, and elevating competitive potential, with the goal not only to ensure the survival of the Thai economy but also to develop it into a significant regional economic hub in the new global economy that will emerge in the coming years,” Mr. Narasith concluded.