Page 56 - 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
Part 3
Business
Model
Marketing and Competition
1. Marketing of Key Products and Services
Mail Business : A global analysis of postal markets, as reported by the Universal Postal Union (UPU), indicates that the domestic mail volume trends around the world are in the same direction, with a continuous decline. In this regard, postal administrations apply marketing strategies by adjusting their pricing structures in order to maintain revenue base. Even without rate adjustments, mail volumes continue to decline in line with the trend of global postal service. Therefore, despite
decreasing mail volumes, strategic pricing adjustments have proven effective in improving financial outcomes. For instance, some postal administrations have recorded a 3.4-fold increase in revenue, even as mail volumes declined by 1.7 times, resulting in an overall revenue growth of 22.4% between 2019 and 2021. In Thailand, the domestic mail market sector has experienced a continuous decline in mail volumes, with an average annual decrease of 9% between 2017 and 2024. Correspondingly, revenue from
54 Thailand Post Company Limited