Recently, the Federation of Thai Industries (FTI) proposed the creation of a new regulatory body to oversee product standards, precisely to counter the cheap advantage of Chinese imports.
FTI Vice Chairman Thawee Piaptana made it clear that Thai manufacturers are at a disadvantage when competing with their Chinese counterparts due to the price advantage of Chinese goods. This competition is exacerbated by tariffs faced by Thai manufacturers under the Thai-Chinese Free Trade Agreement. These cheap imports have hit Thailand's local manufacturing industries such as steel, aluminum, plastics, ceramics and pharmaceuticals hard.
But the problem is not unsolvable. In response, Thai media reports mentioned imprisonment and fines for importers and traders, a series of measures taken by Thailand to maintain the quality and competitiveness of its market.
So, for those of us who cross borders, especially those who resell low-cost products, how can we change in the future?
1. Bundle sales and combination sales
Consider the product line you have in your hands.
Are there opportunities for combinations or bundles? For example, if you sell porcelain in the Thai market, consider bundling it with other home accessories to form a set of combined products. This not only increases the value of each transaction, but also provides consumers with a more complete shopping experience, allowing them to see the additional value of the product.
2. Provide value-added services
For industries that FTI mentions as being hit, such as steel and ceramics, it is useful to think about how to add value-added services to these products.
For example, to provide customers with services such as installation, maintenance or long-term warranty. In this way, even if the price of the product itself is higher, it can provide consumers with a higher cost performance through value-added services.
3. Establish an independent station
Considering Thailand's tightening regulations on low-priced imports, it is particularly important to establish an independent sales platform. Independent websites can not only help sellers establish relationships directly with consumers, but also provide sellers with a sales channel that is free from external competitive pressures. It also gives you more control over your brand image and ensures a consistent, high-quality shopping experience for consumers.
In the face of new challenges in the Thai market, sellers of low-cost products should adapt in a more innovative and flexible way to ensure they remain competitive in this market.
Pay attention to the overseas gang, update it daily, so that every seller can enjoy cross-border overseas dividends!
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