Page 62 - 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
Retail Business : THP faces growing competition as private transport operators expand their services to include product sales alongside delivery services. Additionally, changing consumer behavior, with a rising preference for online shopping, has impacted traditional retail sales at post offices. To remain competitive, THP must adapt by curating products and services that align with customer needs, focusing on unique and high-quality products, as well as fast and convenient services. Moreover, ThailandPostMart has undergone a re-design & positioning process to reach a broader target audience. This includes UX/ UI improvements for user convenience, CRM activities to enhance customer experience and encourage continuous purchases, and public relations on both online and offline channels that are tailored to the target group to effectively respond to consumer demands.
Financial Business : According to data from the Bank of Thailand (BOT) as of October 2024, the total number of PromptPay registrations reached 78.54 million, comprising 78.18 million registrations from public and 0.36 million from business sector. During the same month, the total number of fund transfer and payment transaction exceeded 2.02 billion transactions, with a total value of 4.22 trillion baht. The usage of internet & mobile banking grew by 30%, with the number of user accounts reaching 136.1 million by the end of December 2023. Meanwhile, the number of Thai electronic card transactions abroad totaled 11.512 million transactions, with a payment value of 27.27 billion baht in 2024. As of June 2024, the total number of Mobile and Internet Banking accounts stood at 109.54 million, reflecting steady growth in digital banking adoption. Furthermore, PromptPay Cross-Border QR Payments experienced significant growth, with transaction values reaching 237 million baht in October 2024, marking a 313% increase compared to the same period in the previous year. These figures indicate a continued expansion of electronic payments in Thailand in 2024, both in terms
of number and value of user transactions. This trend demonstrates the increasing acceptance and adaptation of the people and business sector that are ready to support transition towards a fully digital age in Thailand.
60 Thailand Post Company Limited