Better Things

with Contactless Economy

The Contactless Economy refers to an economic system that conducts transactions digitally using sensors or electronic devices to minimize physical contact. A Deloitte report states that in 2019, the contactless economy in the Asia-Pacific region was valued at $1.2 trillion and is expected to grow to $3 trillion by 2025.

The contactless economy has led to new business models and shopping experiences, including:

1. Touchless Store Experience: Services that minimize customer contact, such as having staff assist in product selection and vehicle parking. Customers prefer convenience without feeling rushed or pressured.

2. Drive-through: Customers can order and receive services from their vehicles without getting out, emphasizing speed and ease while minimizing interaction with staff, yet still requiring convenient product verification.

3. Shut-in Shoppers: Online shopping through applications with home delivery, where consumers expect fast delivery and low prices, especially in China, where essential online shopping has surged significantly.

4. Virtual Patrons: Virtual reality (VR/AR) product trials allow consumers to experience products from home, increasing their likelihood of purchasing and willingness to spend more. For example, Volvo developed a virtual test drive app.

For Additional Information: Office of Trade Policy and Strategy

Phone: 0 2507 7895

Link: https://tpso.go.th