Page 54 - Thailand Post Annual Report 2024

Part 1
Overview of the Organization
Part 2
Business Trends
Part 3
Business Model
Part 4
Strategies and Resource Allocation
Part 5
Risk
Part 6
Corporate Governance
Part 7
Operating Results
Part 8
Other Information
The Postal Business in 2024 and the Trend in 2025
Global Postal Business Conditions and Trends
The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report, has forecasted a global economic growth rate of 3.2% for 2024, indicating continued expansion supported by the easing of global inflation. This reflects an overall recovery in the global economy. Additionally, the rapid growth of the e-Commerce sector has become a key factor in the global logistics and goods transportation industries. Coupled with the increasing trend of online purchasing behavior, this sector is expected to develop at an accelerated pace.
The Global Postal Industry Report (GPIR) 2023 has revealed that the growth of e-Commerce has slowed following its peak during the COVID-19 pandemic. Consequently, the revenue of the postal industry has experienced an average growth of only 0.1%, primarily driven by transport of goods and logistics and also e-Commerce-related deliveries. According to the latest Household Information and Communication Technology (ICT) Usage Survey 2023 conducted by the International Telecommunication Union (ITU), three-quarters of the world's population aged 10 and above use mobile phones. In Europe and America, 80%-90% of the population has internet access, contributing to a continuous decline in mail volume. Although the rate of decline has slowed, partly due to the post-pandemic recovery. The increased use of mobile phones is among the most significant developments in the e-Commerce business. A survey conducted by the International Post Corporation (IPC) on cross-border e-Commerce buyers revealed that 30% of consumers made more online purchases in 2023 compared to the same period in 2022. Additionally, 44% of consumers exhibited a growing tendency to seek exclusive deals and/ or retailers offering free shipping services.
Furthermore, the postal industry has increasingly invested in e-Commerce platforms, mobile applications, payment services, and integrated logistics solutions. However, rising energy costs, escalating labor expenses, and intensifying competitive pressures on profit margins have significantly
impacted the industry’s operational profitability. Nonetheless, given the rapid growth of e-Commerce, the postal industry needs to work together more than ever to deliver a better customer experience. This includes specific postal cooperation strategies in the areas of e-Commerce and digitization, as well as broader collaborative initiatives under the framework of the Universal Postal Union (UPU) to ensure that postal business align with the expanding parcel delivery market.
As the global postal industry undergoes rapid transformation with the integration of technology into various business processes, from transportation to customer communication, postal service providers have developed new service offerings to meet customer demands, providing more options for both domestic and international shipments. Additionally, there is a strong emphasis on global environment and sustainability in continuously reducing carbon emissions. Every aspect of postal operations, from packaging to delivery optimization, is being examined to enhance efficiency and support the transition toward a more sustainable postal industry in the future.
52 Thailand Post Company Limited