Samart Digital Plc (SDC), a subsidiary of SET-listed tech and ICT solution provider Samart Corporation, is gearing up for a full-scale astrological business to cash in on fortune telling and belief-related commerce seen to have high potential in Thailand and around Asean.
The business is currently operated by Lucky Heng Heng Co (LHH), which was established by SDC.
LHH expects to expand its service to other countries, such as Laos and Cambodia, in the third year of its operation.
The company now stands ready to provide live horoscopes, physiognomy, feng shui, auspicious dates and time finding, as well as merit-related services in collaboration with partners.
The company will launch a roadshow to raise funds for its business expansion in the final quarter, with a target of around 100 million baht.
In Thailand, business involving the worship of superstitious objects and sacred sites, horoscopes and occult rites, broadly termed locally as mutelu, has been prospering, with some observers believing people want something to hold on to during the hard times brought on by the pandemic and the resulting economic woes.
Watchai Vilailuck, executive vice-chairman of Samart and executive chairman of SDC, said the group has two decades of experience in the horoscope content business.
LHH is now pressing ahead with four core services.
The first pertains to the Horoworld app that provides live horoscopes, physiognomy, feng shui, auspicious dates and time finding.
The Horoworld app generates two million baht a month on average.
The second service involves the Thai Merit mobile app, which facilitates online merit-making for temples across the country. More than 100 temples across the country have been linked with the app.
The third involves so-called Mu-commerce, which provides an online channel for products or services linked with mutelu.
The last service concerns so-called Mu-keting, which pertains to marketing campaigns related to belief and faith that can support the business sector.
According to Mr Watchai, the Thai Merit app will be available next week, while Mu-keting has been operating with some corporates.
Based on the company's survey, 79% of Thailand's population believes in horoscopes, astrology, and feng shui.
Gen Y comprise the most active users of fortune-telling services with 43.4% of the age group, followed by Gen Z at 21.6%, Gen X at 17.4%, and Baby Boomers at 6.7%.
Astrology was the most popular activity in this field, with 68.1% of respondents saying they followed it, followed by merit-making at 57.9%, amulet and sacred objects at 42.8%, auspicious numbers and colours at 36.9%, and supernatural stories at 27.5%.
Some 73.8% of the respondents said they preferred to access fortune-telling services through websites and social media.
LHH expects to generate revenue of 156 million baht in the first year of its operation, 315 million baht in the second year, 550 million baht in the third year, 1 billion baht in the fourth year, and 2.05 billion baht in the fifth year.
"We plan to expand the business to neighbouring markets in the third year of operation, especially in Laos and Cambodia, which have similar beliefs and culture, as well as China, the biggest market for Thai tourism," said Mr Watchai.
He said the business is expected to help SDC turn a profit next year, following five years of losses.
