NocNoc Utilizes AI for Enhanced Personalization
NocNoc, a home products and services e-marketplace, has integrated artificial intelligence to deliver tailored experiences both online and in physical locations, broadening its offerings in the home and living sector—a market valued at 450 billion baht.
The platform's operator, Better Bee Marketplace Co, aims to go public with an IPO by 2028. The home and living market is anticipated to grow by 3%, echoing last year's expansion, according to CEO Chollak Mahasuweerachai, despite economic adversity and ongoing real estate developments.
Online home and living sales are predicted to increase by 10% this year, outpacing the general market but slightly trailing last year's 11% growth. Online sales are expected to represent 5% of the overall market in 2024, up from 3.5% in 2023.
This year, NocNoc will concentrate on AI-assisted customization in response to customer preferences, with post-pandemic strategies including a focus on physical pop-up stores and events. With operations in Southeast Asia, the company is charting its IPO within five years to expand in the Asean market.
Last year, NocNoc doubled its sales due to enhanced customer access and market expansions. Revenue is split between 70% from direct-to-customer sales and the remainder from the business sector, including commission fees and additional services.
NocNoc has reached a GMV of over 5 billion baht, projected to hit 6.5 billion baht in 2024. It boasts 5,000 sellers, 600,000 products, and over 6,000 partners, with an average transaction size of 10,000-15,000 baht.
The company prioritizes ecosystem support over immediate profits and continues investing in technology and AI to benefit customers and sellers alike.
Chief Commercial Officer Anupong Tasaduak mentioned most clients are from Bangkok and its vicinity, aged 25 to 45, but demand is growing nationwide. The platform receives 3 million visitors monthly and offers comprehensive home and business solution services, catering to individual and commercial needs.
Anupong is confident in NocNoc's 40% sales growth in 2024, equivalent to 6.5 billion baht.
Online home and living sales are predicted to increase by 10% this year, outpacing the general market but slightly trailing last year's 11% growth. Online sales are expected to represent 5% of the overall market in 2024, up from 3.5% in 2023.
This year, NocNoc will concentrate on AI-assisted customization in response to customer preferences, with post-pandemic strategies including a focus on physical pop-up stores and events. With operations in Southeast Asia, the company is charting its IPO within five years to expand in the Asean market.
Last year, NocNoc doubled its sales due to enhanced customer access and market expansions. Revenue is split between 70% from direct-to-customer sales and the remainder from the business sector, including commission fees and additional services.
NocNoc has reached a GMV of over 5 billion baht, projected to hit 6.5 billion baht in 2024. It boasts 5,000 sellers, 600,000 products, and over 6,000 partners, with an average transaction size of 10,000-15,000 baht.
The company prioritizes ecosystem support over immediate profits and continues investing in technology and AI to benefit customers and sellers alike.
Chief Commercial Officer Anupong Tasaduak mentioned most clients are from Bangkok and its vicinity, aged 25 to 45, but demand is growing nationwide. The platform receives 3 million visitors monthly and offers comprehensive home and business solution services, catering to individual and commercial needs.
Anupong is confident in NocNoc's 40% sales growth in 2024, equivalent to 6.5 billion baht.
