Shop Global (Thailand) Co, a TV shopping company under Saha Group, is venturing into live commerce to strengthen its business and achieve long-term sustainable growth.
The company plans to sign a memorandum of understanding (MoU) tomorrow with five business partners, both local and international.
According to Sorchote Ambhanwong, the company's chief executive, one of the key partnerships is with Innovatic Commerce Solution Sdn Bhd, the operator of Malaysia's top live commerce platform called "eShoplive". Through this collaboration, Saha Group's products, including jewellery, fashion, and food, will be sold via the eShoplive channel, not only in Malaysia but also in countries where Innovatic Commerce Solution has a network, such as South Korea and Taiwan.
Another partner is Suke, a TV shopping firm in Malaysia, to explore opportunities in home shopping and e-commerce, bridging the gap between Thailand and Malaysia. Suke TV boasts more than 200 key opinion leaders (KOLs).
Shop Global also plans to sign MoUs with two Thai companies -- Sabuy Technology and Green Moons -- as well as VerofaxAsia Sdn Bhd, a technology company based in Dubai. These partnerships will provide knowledge sharing, KOL training, and technological support to Shop Global.
Mr Sorchote said TV shopping in Thailand remains stagnant, with sales last year totalling 16 billion baht, up marginally from 2021. The market's typical sales growth is more than 10% a year, he said.
He said the tepid sales prompted many operators, including Shop Global, to shift their focus to live commerce, resulting in 300% industry growth last year.
Mr Sorchote said: "The sluggish growth is due to lower spending by customers in TV shopping, and a limited group of regular customers, as the majority of TV shopping customers are mainly aged 45-70."
He added that live commerce is expected to contribute 50% of the company's total sales in the future. This year, sales on the Global Channel are expected to reach 600 million baht, up from 400 million baht last year. Within this total, the three categories of jewellery, fashion, and health and beauty products will each provide 30% of sales, while the remaining 10% would be attributed to home and electrical appliances.
