LG Launches Appliance Subscription Service in Thailand, Targets Premium Market
Thailand: LG Electronics, the South Korean electronics giant, has announced plans to extend its appliance subscription service to Thailand. Amnaj Singhachan, head of marketing at LG Electronics (Thailand) Co Ltd, noted optimism about the Bank of Thailand's rate cut easing household debt and boosting consumer purchasing power, benefiting the electrical appliance sector. The subscription service, already launched in South Korea, Malaysia, and Taiwan, targets Gen Z consumers and young married couples in Thailand. LG’s subscription service, which offers flexible monthly payment plans, covers both small and large appliances, including air purifiers, washing machines, and refrigerators. LG is also considering launching the service in the US and Europe.
Sunghan Jung, president of LG Electronics (Thailand), stated that the subscription business trend is rapidly expanding globally and sees great potential in Thailand. The company aims to acquire 40,000 customers and reach 1 billion baht in revenue by 2025, with projections to reach 80,000 customers and 2 billion baht (59.8 million USD) by 2026.
Source: Bangkok Post