Ascend Corporation has officially launched its own online marketplace, ' Wemall
'. Wemall is an $8.5 million (300 million THB) investment by the corporation and is positioned as Thailandâ€™s first â€˜online brand marketplaceâ€™.
Wemall has replaced Ascend Corporationâ€™s iTruemart.com and now has over 100 brands participating with the companyâ€™s platform, providing approximately 60,000 product items after launching for one trial month. Wemallâ€™s goal is to have 3,000 brands in its marketplace by 2017, selling products ranging from beauty, fashion and electronic gadgets.
The governmentâ€™s PromptPay service under the national e-payment scheme is also speculated to spur the nationâ€™Ascend Corporation, Wemall , online brand marketplace, thailand, Ascend commerces ecommerce growth. According to Punnamas Vichitkulwongsa, Chief Executive of Ascend Commerce, Thailandâ€™s online retail commerce accounted for 2% of the total retail market in 2015.
Ascend Corporation plans to expand regionally in ASEAN using Wemall as a business role model for other countries. Nothing concrete has been announced regarding regional expansion.