Walmart’s online platform has grown quickly to become the second-largest e-retail platform in the US after Amazon. The platform is likely to gain a greater share in the US market going forward.
The Department of International Trade Promotion (DITP) has invited nine Thai trade associations to talks with Walmart on increasing sales channels for Thai goods in international online markets such as the US, Canada, Mexico and Argentina. The aim of the talks is to boost the country's exports.
The nine associations joining the talks are the Thai Furniture Association, Thai Gifts Premiums & Decorative Association, Thai Housewares Trade Association, Thai Lifestyle Products Federation, Northern Handicrafts Manufacturers and Exporters Association, Thai Toys and Children Product Trade Association, Thai Subcontracting Promotion Association, Thai Autoparts Manufacturers Association, and Federation of Thai Industries (furniture and air-conditioning & refrigeration industries).
The move comes after Walmart recognised Thai businesses’ strength in producing high-quality products with a variety of designs, said DITP director-general Somdet Susomboon.
He added that to meet the US market's demand during the Covid-19 crisis, Walmart wants a large number of Thai products, including furniture, housewares, house decor, toys, automotive parts, electric appliances and air-conditioners.
He added that the department is working under Deputy Prime Minister and Commerce Minister Jurin Laksanawisit's policy to encourage businesses to use online trading systems to expand their sales in international markets amid the sluggish economic recovery due to the Covid-19 crisis.
"The department has achieved success in boosting the country’s exports in the first half of this year, with 14.67 billion baht generated from activities operated via online channels," he said.
"We have received a policy directive to speed up the operation in the second half of this year, to generate more revenue for the country."
Among activities in the first half of this year is "Yi Pua [Chinese for middlemen] Online Connect", which gathered over 52 foreign middlemen to purchase and distribute Thai products via several large online platforms from May 24-28.
"This activity generated contracts and exports worth 288 million baht, much higher than the original target of 100 million baht," Somdet said.
He added that the Thai Trade Centre in Chicago had invited retail giants in the US market to purchase and distribute Thai products via Walmart under the "Yi Pua Online Connect" as well.
Walmart’s online platform has grown quickly to become the second-largest e-retail platform in the US after Amazon. The platform is likely to gain a greater share in the US market going forward.
Products being focused on by Walmart Global Sourcing include automotive parts (sun visors and seat covers), furniture (beds and office chairs) and home decorations for Christmas and Easter. These are Walmart's best-sellers, with orders of 1-12 million items per year in each product category.
Source: The Nation Thailand
Source: The Nation Thailand
August 12, 2021
