Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

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https://www.nationthailand.com/pr-news/more/pr-news/40021146

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

TUESDAY, OCTOBER 18, 2022

THE NATION

HRH Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of HM Queen Sirikit The Queen Mother at Charoen Nakhon Hall, ICONSIAM. The Grand Opening was attended by H.E. Mr. Don Pramudwinai, Deputy Prime Minister and Minister of Foreign Affairs, the Ministry’s executives and officials, members of diplomatic corps and spouses as well as media.

This Exhibition is organised to honour Her Majesty’s dedication to preserve and promote Thai textiles on the global arena for more than 7 decades as well as HRH the Princess’ determination to continue, preserve and develop Her Majesty’s work. The Exhibition is divided into 3 parts as follows:

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

The first part is the beginning of the Thai Silk Journey where HM Queen Sirikit The Queen Mother became enchanted by the beauty of Mudmee Thai silk while visiting flood victims in Na Waa District, Nakorn Phanom Province, with HM King Bhumibol Adulyadej The Great in 1970. From that visit, Her Majesty initiated a project to encourage and support the weaving of textiles as a means of creating steady secondary income for Thai women. Her Majesty then established the Foundation for the Promotion of Supplementary Occupation and Related Techniques (SUPPORT) on 21 July 1976, ensuring that the diverse crafts of Thailand have survived to this day.

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

This part also displays various photographs of HM Queen Sirikit The Queen Mother graciously granting the opportunity to both local and international designers to create attires for HM to wear during State Visits, welcoming royal guests, as well as attending royal functions. The use of Mudmee, Prae Wa, Yok and Hilltribe textiles in her wardrobe shed a keen light on the beauty of Thai fabrics.

The second part involves the story of HRH Princess Sirivannavari Nariratana Rajakanya setting Her heart out to continue, preserve and develop HM Queen Sirikit The Queen Mother’s work in conserving, reviving and promoting the arts and crafts of Thailand, especially in the support of textile weaving and product development for a more modern market to promote Thailand’s fashion and textile industry onto the international arena.

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

The final part is a display of bespoke masterpieces from Thai textiles by international designers and leading brands. These include clothes, bags, shoes and jewelry. This is a great example of how to turn cultural assets into value-added products. It also demonstrates that Thai textiles can be used to make apparel that is modern and recognised by leading designers.

Her Royal Highness Princess Sirivannavari Nariratana Rajakanya presided over the Grand Opening of the “Weaving the Way: A Journey of Thai Silk” Exhibition on the occasion of 90th Birthday Anniversary of Her Majesty Queen Sirikit The Queen Mother

THE NATION

A big green flag on the month of 10th, “Sabuy Digital” launching 2 mobile applications with 2 digital tokens, is now being stated as a utility token, on FIIT Token & Speedkub platform

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https://www.nationthailand.com/pr-news/more/pr-news/40021143

A big green flag on the month of 10th, “Sabuy Digital” launching 2 mobile applications with 2 digital tokens, is now being stated as a utility token, on FIIT Token & Speedkub platform

A big green flag on the month of 10th, “Sabuy Digital” launching 2 mobile applications with 2 digital tokens, is now being stated as a utility token, on FIIT Token & Speedkub platform

TUESDAY, OCTOBER 18, 2022

THE NATION

Sabuy Digital, a new start up company under SABUY GROUP with a strong innovation and technology infrastructure together with a goal of bringing blockchain for users to experience a hybrid real-virtual world.

“FIIT Token”, a new and the first in the market “Move to Earn” platform, here users can play games or do virtual exercise to earn the tokens, which they can then exchange for products in the real world with a plenty of choices to redeem either from Sabuy Ecosystem or partners. With the concept of gamification, Sabuy Digital built a game gimmick for users to have game items including game NFT which users can convert or transfer to a real NFT on Binance Smart Chain. The NFT itself comes with a value where users can sell and buy in NFT Marketplace like Tofu NFT.

While “Speedkub” has the same concept of earning tokens but different usage purpose. The platform itself aims to be a solution for business partners or SMEs as a CRM for all and CRM Token. Speedkub Token is working as a connection of business and customers for a long term retention and building brand loyalty by giving them a privilege of discounts, special offers, etc. by utilizing the tokens. Sabuy Digital will make a first move with their own drop off brands listed under SABUY GROUP in the phase of launching and will expand to other business partners by the end of the year as expected.

The wait of connecting the Metaverse with Reality is finally over. “FIIT Token” and SpeedKUB” are now launching on both App Store & Play Store.

THE NATION

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

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“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

TUESDAY, OCTOBER 18, 2022

THE NATION

Guests can now enjoy preferential rates on non-standard rooms, suites and villas, plus a welcome amenity, breakfast for two and daily hotel credit all across the kingdom

BANGKOK, THAILAND, October 2022 – Marriott Bonvoy is inviting its guests to elevate their next vacation in Thailand with an enticing new promotion that includes premium accommodation and a wealth of added extras.

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

Under the new “Elevate & Enjoy” offer, travelers can book a premium room at their chosen hotel or resort – including deluxe, club or family rooms, spacious suites or even luxurious villas – including daily breakfast for two people. Every guest will also be presented with a welcome amenity upon arrival, and daily hotel credit to be redeemed for soothing spa treatments, dining experiences, sunset drinks and more!

Available for bookings made from now until December 31st, 2022, and stays taken until March 31st, 2023, this attractive offer coincides with the high season in many dream destinations across Thailand.

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

So, whether you’re seeking a stylish city break in Bangkok, an idyllic island escape in Koh Samui or Phuket, a beachfront holiday in Krabi, Khao Lak, Hua Hin, Pattaya or Rayong, or an enchanting upcountry retreat in Chiang Mai or Chiang Rai, everyone can find their ultimate Thai vacation with Marriott. 

With a selection of chic and spacious accommodation available, “Elevate & Enjoy” is ideal for guests seeking a romantic couple’s break, a special occasion or a fun-filled family vacation. 

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

To “Elevate & Enjoy” with Marriott International in Thailand, please visit www.marriott.com/en/destinations/thailand.mi.

Terms & conditions:

• Premium rooms are classed as any accommodation above the lead-in room category.
• Valid for stays at participating properties only a subject to availability.
• Not applicable for group bookings of 10 or more rooms.
• Blackout dates, early departure and cancellation fees may apply and vary by hotel.
• This offer cannot be combined with other select promotions, packages or discounts.
 

“Elevate and Enjoy” with Marriott’s premium room promotion in Thailand

THE NATION

New verification rule for using cash deposit machines from Nov 15

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https://www.nationthailand.com/business/banking-finance/40021129

New verification rule for using cash deposit machines from Nov 15

New verification rule for using cash deposit machines from Nov 15

TUESDAY, OCTOBER 18, 2022

From November 15, people will be required to verify themselves with a debit or credit card when making deposits via cash deposit machines (CDM).

Budsakorn Teerapunyachai, the Bank of Thailand’s senior director of the Payment Systems Policy Department, said this requirement is in line with the Anti-Money Laundering Office’s laws against money laundering and financing of terrorism.

“Verification is necessary to ensure safety in performing financial transactions,” she said.

Budsakorn Teerapunyachai, the Bank of Thailand’s senior director of the Payment Systems Policy DepartmentBudsakorn Teerapunyachai, the Bank of Thailand’s senior director of the Payment Systems Policy Department

People who do not have a debit or credit card can make cash deposits using other channels such as top-up machines, counter services at convenience stores, post offices or bank tellers.

So far, 11 commercial banks have approved the new measure, including Krung Thai Bank, Siam Commercial Bank, Kasikorn Bank, Bangkok Bank, Bank of Ayudhya, TMBThanachart Bank, UOB Bank, CIMB Bank, the Government Savings Bank, the Government Housing Bank and Kiatnakin Phatra Bank.

Post-Covid situation, economic recovery on agenda of Apec finance ministers’ meeting this week

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Post-Covid situation, economic recovery on agenda of Apec finance ministers’ meeting this week

Post-Covid situation, economic recovery on agenda of Apec finance ministers’ meeting this week

MONDAY, OCTOBER 17, 2022

The Finance Ministry said on Monday that about 250 representatives from 21 Asia-Pacific Economic Cooperation (Apec) economies and other international organisations are expected to attend the meeting of finance ministers of the group’s members in Bangkok on October 19-20.

Fiscal Policy Office​ director general Pornchai Thiraveja, who acts as Finance Ministry spokesman, said that on the opening day of the meeting the ministers from Apec economies would share opinions on the economic situation in the post-Covid-19 era, the positive and negative factors for economic recovery and policies to boost economic growth.

On Thursday, they will discuss the situation, trends and challenges for the Asia Pacific economy, as well as work on Apec policies, he said.

“Representatives from international organisations, such as International Monetary Fund, World Bank Group and Asian Development Bank, will present information related to the Asia Pacific economy during the meeting,” he said.

He said Thailand would promote various issues related to sustainability to Apec members, such as granting access to funds for sustainable development and applying digital technologies to promote the digital economy.

He added that there also would be follow-up on pending issues during the meeting, such as implementation of the Cebu Action Plan, which offers guidelines to support Apec’s financial integration.

Pornchai added that Apec Business Advisory Council’s Executive Dialogues with Apec Finance Ministers also would be held on October 20, which would focus on access to digital finance and cooperation between the government and private sectors.

“The Finance Ministry believes that it would be able to make guidelines to develop a financial ecosystem that meets sustainable development,” he said.

He added that the meeting is an opportunity to stimulate Thailand’s economy and promote the country’s financial policies.

Amazon plans $5-billion investment to boost cloud ecosystem in Thailand

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https://www.nationthailand.com/business/corporate/40021144

Amazon plans $5-billion investment to boost cloud ecosystem in Thailand

Amazon plans $5-billion investment to boost cloud ecosystem in Thailand

TUESDAY, OCTOBER 18, 2022

Nongluck Ajanapanya

Amazon Web Services (AWS), the world’s largest cloud services provider, has announced an ambitious plan to invest more than $5 billion (roughly 190 billion baht) in Thailand over the next 15 years.

Conor McNamara, AWS managing director for ASEAN, stated at a press conference on Tuesday that the investment would cover all aspects of the cloud ecosystem, from local infrastructure to reskilling and upskilling people.

AWS is currently building a data centre in Thailand called Region, according to McNamara. The new AWS Asia Pacific (Bangkok) Region will have three availability zones, joining the existing 87 availability zones spread across 27 geographic regions.

Globally, AWS has announced plans for 24 additional availability zones across eight additional AWS Regions in Australia, Canada, India, Israel, New Zealand, Spain, Switzerland, and Thailand.

Amazon plans $5-billion investment to boost cloud ecosystem in Thailand“The upcoming AWS Region in Thailand will allow developers, startups, and enterprises, as well as government, education, and nonprofit organisations, to run their applications and serve end users from AWS data centres in Thailand, ensuring that customers who want to keep their data in Thailand can do so,” McNamara pointed out.

AWS Asia Pacific (Bangkok) Region will enable organisations to build with AWS technologies such as AI and machine learning, data analytics, and the Internet of Things (IoT), he said.

“With these new tools, AWS is empowering governments to better engage citizens, enterprises to innovate for their next stage of growth, and entrepreneurs to build businesses and compete on a global scale,” McNamara noted.

Amazon plans $5-billion investment to boost cloud ecosystem in ThailandEric Conrad, AWS’ regional managing director for the public sector in ASEAN, explained that now is the time to invest in Thailand’s cloud industry. It is due to the government’s supportive policy and businesses’ strong desire to transition to digital after witnessing cloud’s effectiveness during the pandemic.

“We want to be the first comprehensive cloud service provider in this country and a reliable long-term partner for Thai agencies and entrepreneurs as well as multinational companies interested in conducting business in Thailand and the Asean region,” Conrad said.

 “Thailand’s demand is growing exponentially, and AWS saw this potential.”

AWS intends to introduce AWS Local Zone in Bangkok in addition to Region. This type of AWS infrastructure deployment enables customers to deliver applications that need single-digit millisecond latency to end-users by moving compute, storage, databases, and other select services closer to major population centres, industries, and IT hubs.

Amazon plans $5-billion investment to boost cloud ecosystem in ThailandMeanwhile, AWS continues to invest in Thailand’s developers, students, and the next generation of IT leaders through programmes such as AWS re/Start, AWS Academy, and AWS Educate. These AWS education programmes prepare students from a variety of backgrounds and experiences for careers in the cloud.

McNamara stated that the training course is part of AWA’s goal of creating 30 million skilled workers worldwide. AWS has already trained 700,000 people in the Asean region.

Amazon plans $5-billion investment to boost cloud ecosystem in ThailandHe also promised to expand its AWS Partner Network, which already includes over 100,000 independent software vendors and systems integrators worldwide. This collaboration will assist AWS clients in serving their customers or finding the best solution for small and medium-sized businesses.

Thai Deputy Prime Minister and Energy Minister Supattanapong Punmeechow lauded the AWS investment plan.

He described it as a significant milestone that would bring advanced cloud computing services to more organisations and assist the government in achieving the Thailand 4.0 ambition of creating a digitised, value-based economy.

Narit Therdsteerasukdi, secretary-general of Thailand’s Board of Investment (BOI), said that the BOI is one of AWS’ partners to facilitate the company’s investment in Thailand. He is confident that this latest initiative will help boost Thailand’s global competitiveness while also driving innovation and economic productivity across all industries.

AWS now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence, IoT, mobile, security, hybrid, virtual and augmented reality, media, and application development, deployment, and management from 87 availability zones within 27 geographic regions.

Nongluck Ajanapanya

Nation Group to purchase Nation News for THB293 million

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Nation Group to purchase Nation News for THB293 million

Nation Group to purchase Nation News for THB293 million

TUESDAY, OCTOBER 18, 2022

Nation Group Thailand Plc (NATION) on Monday notified the Stock Exchange of Thailand (SET) that its October 17 board meeting approved a move to purchase 189,997 ordinary shares of Nation News Co Ltd (NN), or 99.99 per cent of the company’s shares, from its parent company, Nation Broadcasting Corporation Plc (NBC).

The total purchase price for the shares is 293.77 million baht.

Nation TV Co Ltd (NTV), a subsidiary of NN, is included in the acquisition.

NBC is in the process of changing its name to King Gen Public Co Ltd.

Lawyer targets TCC chief, ex-NBTC member over ‘leaks’ on Thailand’s True-Dtac merger

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Lawyer targets TCC chief, ex-NBTC member over 'leaks' on Thailand's True-Dtac merger

Lawyer targets TCC chief, ex-NBTC member over ‘leaks’ on Thailand’s True-Dtac merger

MONDAY, OCTOBER 17, 2022

The secretary-general of the Thailand Consumers Council (TCC) and a former member of the National Broadcasting and Telecommunications Commission (NBTC) have recently been accused of allegedly leaking confidential information.

Lawyer Trairong Tanthasuk said on Monday that he had filed police complaints against TCC secretary-general Saree Ongsomwang and ex-NBTC member Prawit Leesathapornwongsa early this month.

His allegation is that the two had leaked confidential NBTC information by exposing the “14 conditions” set for the merger between True Corporation and Total Access Communication (Dtac).

In his complaint with Huai Khwang Police Station, Trairong also named some news agencies that had published interviews with Saree and Prawit over the 14 conditions.

He said the NBTC had not announced the conditions it will set to mitigate the impact the merger would have on consumers, but the duo had managed to obtain the information and leaked it to the public. He also accused them of distorting confidential information.

TCC and Prawit have openly expressed opposition to the merger, saying it would hurt consumers as it will leave only two key players in the market – the merged company and Advanced Info Service (AIS).

Trairong is also threatening to file another complaint against Saree for publishing a report from a foreign NBTC adviser on the negative impact the merger would have on consumers.

The lawyer said NBTC had last week deferred its decision on the merger to October 20, pending a report from the foreign adviser, SCF Associates Ltd.

Lawyer targets TCC chief, ex-NBTC member over 'leaks' on Thailand's True-Dtac mergerHowever, he claimed, Saree had got her hands on the classified report and published it on her Facebook page.

He said the NBTC chief later told reporters he did not know how Saree had obtained the document.

Trairong also mentioned that Dr Pirongrong Ramasoota was part of the NBTC public relations team, but stopped short of making allegations.

“Both the 14 conditions and SCF Associates’ study are confidential and still pending deliberation by the NBTC,” he said.

Trairong advised NBTC to guard all secret documents and prevent them from being leaked ahead of official announcements. He added that leaking confidential government information violates the Criminal Code’s Articles 83, 86 and 164, while distorting information violates Article 14 of the Computer Crimes Act.

“I don’t know how the two got the confidential information, but they have done it repeatedly,” he said.

Early last month, Trairong also filed a complaint of malfeasance and nonfeasance with the National Anti-Corruption Commission against Napat Winitchaikul, a member of the panel monitoring NBTC.

He alleged that Napat’s behaviour had caused damage to the state because he acted beyond his authority as a member and former chair of the NBTC monitoring panel.

The complaint cited an incident in which Napat wore a shirt with the panel’s logo while submitting a letter to the NBTC to oppose the merger.

Trairong said this action caused the public to believe that the monitoring panel was opposed to the merger when the panel had made no decisions on the issue.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

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Illumina launches faster and cheaper genomic sequencing platform in Thailand

Illumina launches faster and cheaper genomic sequencing platform in Thailand

MONDAY, OCTOBER 17, 2022

Tippawan Limsamarnphun

Illumina, a US-based manufacturer of equipment used to analyse genetic variations and biological functions, has unveiled a new genome sequencing platform – the NovaSeqX series.

Illumina, a US-based manufacturer of equipment used to analyse genetic variations and biological functions, has unveiled a new genome sequencing platform – the NovaSeqX series.

The new platform is a significant improvement on the previous models in terms of speed, cost and protection of the environment, Illumina’s top executive for Thai and Asia-Pacific markets said.

Robert McBride, senior director of sales for Asia Pacific and Japan, said in an interview that the new platform will better serve cancer patients, reproductive healthcare patients and screening of premature babies. This is because the new platform reduces the turnaround time of DNA sequencing from 48 hours to just 24 hours, making diagnostics faster.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

The NovaSeqX series will also reduce the cost of genome sequencing to just US$200-$300 per person, down from $600. This does not include processing, interpretation and counselling costs.

The new platform delivers more than 20,000 whole genomes of high-resolution optics and ultra-high density flow cells per year, which is 2.5 times greater throughput than the previous model.

According to McBride, innovations over the several decades have driven down the cost of sequencing exponentially, from $3 billion in the original Human Genome Project in 1990 to $100 million in 2001.

With technology becoming even cheaper, healthcare services are becoming more widely accessible, he said. Besides, he said, the new platform is more environmentally friendly as it cuts down packaging waste by 90 per cent, plastic usage by 50 per cent, and a 500-tonne saving in dry ice per year.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

McBride said Illumina’s mission is to improve human health by unlocking the power of genomic technology in identifying genetic diseases and disorders, drug development, personalised medicines, precision therapy and pandemic preparedness.

During the Covid-19 pandemic, Illumina partnered with more than 120 labs worldwide to sequence 75 to 80 per cent of coronavirus genomes in 2020.

Illumina established a presence in Thailand more than 18 years ago, especially in the reproductive health industry for DNA and next-generation sequencing. Next Generation Genomic Co Ltd (NGG Thailand) is one of the companies that rely on Illumina for invitro fertilisation testing, pre-implantation genetic screening (PGS) and testing the foetus for genetic diseases. McBride said testing for genetic diseases among babies is critical because they can be treated in time. Genomics has also proved to be effective in the diagnostics and treatment of cancer.

He said genomic technology can also help find diseases in agriculture and livestock to help improve yields.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

McBride said the key challenge now is finding genome sequencing data analysts and scientists, as well as safeguarding public health information. He said in the Asia-Pacific region, Australia has 400,000 scientists and genetic councillors, while Japan only has 160,000. Figures of scientists in Thailand are still unavailable.

He added that there are just three or four large companies that specialise in DNA sequencing, with Illumina holding an 80-per-cent share of the global market.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

According to Brandessence Market Research, the global genome sequencing market was valued at $13.58 billion last year and is expected to hit $46.43 billion marking a 19.2 per cent growth by 2028.

Illumina’s annual revenue last year came in at $4.5 billion. Its newest NovaSeq X series provides extraordinary sequencing power through a single platform to fuel data-intensive applications like whole-genome sequencing, single-cell sequencing and multi-omics. With numerous technical innovations, it enables maximum throughput and accuracy for genomics scientists.

The technology also accelerates genomic discovery and clinical insights to understand disease, its impacts on human lives and ultimately provide effective treatment.

Illumina launches faster and cheaper genomic sequencing platform in Thailand

The highlights of the NovaSeq X series include:

• A fundamentally new sequencing by synthesis (SBS) chemistry, engineered for 2x higher speed and accuracy.

• Highest resolution optics and ultra-high density flow cells, delivering 2.5x greater throughput while driving down sequencing costs.

• Integration of onboard Bio-IT with ORA compression, enabling highly accurate and fully automated secondary analysis with 5x loss-less data compression.

• 15 new thermostable reagents, supporting ambient-temperature shipping, eliminating the need for dry ice and reducing waste.

To achieve peak performance and minimise interruptions, Illumina also has a support team on standby comprising scientists and experts. Technical support is available via phone five days a week or online support 24/7.

Tippawan Limsamarnphun

As inflation pinches, many Thais willing to risk buying second-hand beauty products: survey

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As inflation pinches, many Thais willing to risk buying second-hand beauty products: survey

As inflation pinches, many Thais willing to risk buying second-hand beauty products: survey

TUESDAY, OCTOBER 18, 2022

A large portion of Thai consumers are willing to buy second-hand beauty products via social media channels due to the rising cost of living, a survey has found.

Despite the risk of getting fake products, 22 per cent of Thai consumers are willing to take the risk of buying second-hand beauty products via Twitter and Instagram channels as well as other social media channels because they do not want to pay the full price for the products, said Mintel, a global market research firm.

Chayapat Ratchatawipasnan, senior beauty and personal care analyst of Mintel, said Thailand is now experiencing a 7.1 per cent inflation, so consumers are trying to save costs when buying beauty products.

Chayapat said that owners of beauty brands may lose some customers to second-hand sellers, but the brands could still command loyalty by creating an exchange market for users to sell their second-hand products.

Chayapat said the brands could also add their own promotions to the second-hand products exchange market. Such exchange markets also would ensure the quality of the second-hand products while retaining brand loyalty.

Mintel found that many consumers had turned to social media to search for second-hand beauty products instead of looking for new products on conventional media, he said.

He added that TikTok, which is a short video clip platform, has become popular among Gen Z Thais searching for second-hand beauty products.

Sales of second-hand beauty products via TikTok is expected to grow by 42 per cent, he added.

Mintel found that 46 per cent of Gen Z Thais admitted social media influenced their purchase of beauty products via online stores, Chayapat added.

He recommended that owners of leading beauty brands should use their second-hand exchange markets to contact various groups of customers via chats and messages through applications to draw them to their new products.

Chayapat said the research by Mintel also found that most of the buyers, who are at least 45 years old, do not like to risk buying second-hand products and 40 per cent of this group stated they bought beauty products directly from online stores of the brands.

So, while the brands create and run exchange markets for second-hand products of their own brands, they can still use the market to reach out to the group of buyers who are over 45 years old, Chayapat added.