THAIWATER 2023: ERA Group's Outstanding Performance and Market Outlook

From August 30th to September 1st, 2023, the high-profile THAIWATER 2023 exhibition took place in Bangkok, Thailand. Despite the challenges posed by the COVID19 pandemic, our ERA sales team participated in the exhibition once again in 2023, showcasing many new products that drew the attention of customers from Thailand and surrounding regions.

As an important market in one of the three regions in Southeast Asia, Thailand boasts a rich history and culture, and has close ties with China in many fields such as economy and tourism. While the Thai economy remains challenged by high global inflation, it faces potential opportunities with the gradual easing of the COVID-19 pandemic, resurgence in domestic demand, a recovery in tourism, and support for exports and public investment.

Tourism has long been one of Thailand's key industries, contributing to approximately 15% of its total GDP. Although the tourism industry has taken the knock during the pandemic, it is expected to recover on a large scale in 2023 with the global epidemic control and government support for the tourism industry. Thailand also needs to be prepared for the coming of Chinese tourists. The government has exempted overseas tourists from quarantine to revive tourism. It means that Thailand will require a substantial number of products related to our ERA group. Thailand is an opportunity-rich market.

While our market share in this region is not as substantial as that of some well-known local brands, we have established relationships with various types of customers, including supermarkets, distributors, pool equipment suppliers, project clients, and wholesalers etc. Upon learning about our participation in this exhibition, many customers warmly welcomed our arrival and traveled all the way to meet us in Bangkok. Additionally, we received business cards and information from new customers. This exhibition generated new orders and provided an opportunity to address issues encountered with previous orders, contributing to mutual progress. We engaged in discussions about ERA's products, reminisced about past collaborations, and expressed our hopes for future cooperation.

The successful organization of THAIWATER 2023 in Bangkok once again left a lasting impression on attendees regarding ERA's brand. The market demand reaffirmed the competitiveness of our products in the market. As an industry leader in plastic pipe system, we must redouble our efforts to expand this market, potentially transforming the Thai market into one worth millions or even tens of millions of dollars in the near future. On the day following the conclusion of the exhibition, we embarked on a proactive visitation campaign to meet with both existing and new customers. We recognized that the market has undergone significant changes before and after the pandemic. Conducting fresh market research, revising visitation plans, and gathering new market information have become especially crucial in the post-pandemic era. We also paid close attention to the feedback provided by our customers, and collected information about new top-selling products and some other useful information, so that we can research further.

This participation in the exhibition and conducting fresh market research subsequent visitation campaign has provided us with a clearer understanding of the market demands, our product strengths, and areas for improvement. With the strong support of the ERA Group, we must make our products more cost-effective to compete with the emerging local manufacturing industry while also addressing challenges from established competitors. We plan to leverage B2B platforms and search engines for proactive customer engagement. Additionally, we are considering the possibility of establishing subsidiaries or representative offices in Southeast Asian countries with lower warehousing costs, such as Thailand and Malaysia, to build extensive sales networks for better product promotion and sales. 

We will also seek out agents for different product lines to expedite market entry and enhance brand recognition. In the Thai market, brand image and social responsibility are of significant importance to consumers. Developing the Thai market requires the formulation of practical, continually adjusted, and optimized strategies which based on the specific circumstances. We believe that competitive markets often present opportunities. By continually introducing new products and services to enhance our competitiveness, we can find new opportunities, and achieve success in the dynamic Thai market, where opportunities and challenges coexist.