60 Seconds in Bangkok
The expansion of A23 Advisors into Asia has been incredible for all the reasons you might expect - beautiful country, delicious food, close proximity to all the best bucket-list destinations and fast-growing markets for travel and e-commerce technology.
As lifelong learners, we’ve also been very appreciative to learn an entirely new way of doing business.
Narissa Limpanathon has been heading up the A23 Advisors expansion into Asia by way of Bangkok. Here’s what she had to say about how everything is going:
A23 Advisors: Narissa, how has your first six months in Bangkok been?
NL: It’s fascinating because basically everything we know in the West/US is the complete opposite in Asia.
A23: For example, the timezone…
NL: There’s that. When I communicate with the US, most people are waking up just as I’m getting ready for bed.
A23: What has been the most surprising aspect of business?
NL: In the world of e-commerce, I was surprised to find out that, cash on delivery - COD - is 85% of the payment method out here. And social commerce makes up 40% of the retail apparel business.
A23: Has retail gone completely digital?
NL: The data shows that offline stores - brick and mortar - are thriving right alongside social commerce. Thailand is in the top three countries in Asia for phone usage and social network usage.
A23: You are living the dream.
NL: There are definitely dreams coming true out here. Bangkok is the next big start-up hub in Southeast Asia since Singapore is getting too expensive and oversaturated.
A23: Perfect timing for us!
NL: It’s been amazing!
Are you considering expanding your operations into Asia? Schedule a consultation to learn more about how A23 Advisors can help.