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Hong Kong tackles online counterfeit products with the launch of the ‘Hong Kong Trust Mark’ electronic logo, reports Enterprise Innovation.

Small and medium enterprises are expected to benefit from the initiative, launched by the Hong Kong Federation of ecommerce. Hong Kong’s retail industry offers a wide variety of goods and services. However, due to the rampant selling of fake goods online, a lot of consumers feel reluctant of buying goods on the internet.

The Hong Kong Trust Mark is recognized by the ‘Belt And Road Ecommerce Strategic Alliance’, including the Thailand ecommerce association.

A trust mark will improve confidence of new customers in purchasing from unfamiliar websites, including a guarantee against the risk of fraud and non-payment.

Pawoot Pongvitayapanu, founder of tarad.com and President of the Thai Ecommerce Association comments, “For a healthy growth of ecommerce in Thailand and surrounding countries, a well developed trust system is necessary. Our association will give full support to this Trust Mark in the ASEAN market.”

The scheme could build a trust worthy image for Hong Kong’s online trading platforms. The Trust Mark will also provide a channel for complaints and legal consultations. Meanwhile, HKFEC will actively communicate with local government and organizations to make Hong Kong a better place for ecommerce.

HKFEC will aggressively promote the “Hong Kong Trust Mark” and encourage more online retailers to participate. It will also raise awareness regarding IP rights.

Those who obtained the Trust Mark would be authorized to post the electronic logo of the “Hong Kong Trust Mark” issued by HKFEC on their website and linked to a given webpage. Online consumers can click the “Hong Kong Trust Mark” logo on the approved website to review the details and status of that particular site.

Following Alibaba’s various initiatives at battling counterfeit, more ecommerce organizations are stepping up to battle fake goods to better the ecommerce landscape for consumers.

A version of this appeared in Enterprise Innovation on August 18. Read the full version here.

Source: wemall.com

Ascend Corporation has officially launched its own online marketplace, Wemall on June 6, reports Bangkok Post. Wemall is an $8.5 million (300 million THB) investment by the corporation and is positioned as Thailand’s first ‘online brand marketplace’.

Wemall has replaced Ascend Corporation’s iTruemart.com and now has over 100 brands participating with the company’s platform, providing approximately 60,000 product items after launching for one trial month. Wemall’s goal is to have 3,000 brands in its marketplace by 2017, selling products ranging from beauty, fashion and electronic gadgets.

Thailand’s online retail commerce will continue to grow by at least 30% over the next few years, driven by increased smartphone penetration and intense competition among ecommerce operators

The government’s PromptPay service under the national e-payment scheme is also speculated to spur the nation’s ecommerce growth. According to Punnamas Vichitkulwongsa, Chief Executive of Ascend Commerce, Thailand’s online retail commerce accounted for 2% of the total retail market in 2015. Punnamas Vichitkulwongsa, Chief Executive of Ascend Commerce comments,

We expect online retail will account for 10% of the total retail market within the next few years. 

As reported by The Nation, Wemall is focusing on end-to-end services, with two main forms of partnerships with brands; one being full-scale services and the other self-formulated services. Brands will be able to run their own online outlets via ready-to-use features, which can be adjusted in real time to accommodate increasingly competitive environments.

Mr. Punnamas also expressed optimism about mobile commerce, as the sector claims 49% of total ecommerce transactions.

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.

A version of this article appeared in The Bangkok Post on July 7. Read the full version here.