Jack Zhang, chief executive of Lazada Thailand
Auttapol Rerkpiboon, PTT Group chief executive
Despite a boom in the country’s e-commerce industry driven by the pandemic in 2020, there is still much more room to grow in 2021 in the eyes of e-commerce platform Lazada.
Jack Zhang, chief executive of Lazada Thailand, said the outbreak has shifted consumer behaviour towards online platforms.
He said the number of orders through Lazada jumped by more than 100% during the lockdown period.
The country’s e-commerce value is estimated to reach 220 billion baht in 2020, up 35% from a year earlier.
“Even though Thailand’s e-commerce is growing rapidly, e-commerce as a whole in the region only accounts for 3-5% of the overall retail market in Southeast Asia, which means there are still huge opportunities for growth,” said Mr Zhang.
“The growth of e-commerce is not just an opportunity for Lazada, but for all of Thailand as we can step up digitalisation for both the economy and society.”
The company is committed to sharpening its focus on strategy and execution to achieve longterm and sustainable success, he noted.
Within the next few years, Lazada will work towards integrating with the offline channel, while ensuring quality as an online shopping destination, he said.
He agrees 2021 will be very challenging for all businesses following the fresh wave of outbreaks.
The pandemic has reshaped consumers’ mindset, which could hold people back from going to retail stores for some time and that “e-commerce is therefore here to stay,” he said.
PTT’s chief executive Auttapol Rerkpiboon is hailing 2021 as a fundamental year for the national oil and gas conglomerate to see significant progress in diversification into non-energy businesses.
AI & Robotics Ventures (ARV), which is owned by PTT Exploration and Production, is preparing to commercially launch products and services next year, he said.
They include products for agricultural purposes as well as surveillance and maintenance services for oil and gas drilling and production facilities.
Also in the pipeline are plans to make generic drugs for non-communicable diseases and semi-solid lithium-ion batteries for electric vehicles (EVs), said Mr Auttapol.
The two businesses will be run by PTT’s subsidiaries — Innobic Asia and Global Power Synergy, respectively.
A boost in the domestic medicine industry is needed as Thailand has greatly depended on expensive drugs imported from abroad.
Mr Auttapol said PTT is also planning to benefit from the growth of renewable energy businesses across Asia-Pacific next year.
PTT has adjusted its renewable power generation target, aiming to achieve 8,000 megawatts in capacity within 2030, up from 164MW as of November last year.
Mr Auttapol said PTT is planning to have its oil refineries produce more jet fuel and precursors for the petrochemical industry as EVs look set to replace oil-powered cars in the future.