Thailand recently allowed people to grow cannabis at home after the country’s authorities officially removed the plant from the list of banned drugs. During this situation, the market for special products has become more active than ever with many direct and indirect forms of selling. In this article, we will introduce how to sell cannabis online and how to increase impulse purchases in Thailand.
Overview of cannabis in Thailand
The cannabis market in Thailand is witnessing strong growth, especially as the country opens up to tourism and attracts foreign visitors. At the same time, government policies on cannabis trade and use were introduced to promote agriculture and tourism, which allowed the market to grow significantly. Businesses in Thailand, large and small, are speeding up their investments in the cultivation and exploitation of cannabis and hemp because these are highly profitable new crops. It is estimated that this will bring the people and the government new revenue of about 10 billion baht or 289 million dollars a year. According to the Thai Industrial Hemp Trade Association, the market value of the cannabis-related business is estimated at 40 billion baht and is expected to grow to 70 billion baht by 2024.
Sell cannabis online to increase impulse purchases in Thailand
Requirements for selling
In order to conduct cannabis business, especially selling cannabis online, companies need to obtain appropriate permits from the Plant Quarantine Department of Thailand to be able to import seeds. In addition, the production of cannabis-containing products is possible for foreign-owned businesses. However, they are subject to different licensing requirements and obligations depending on the type of product. In addition, when exploiting to sell cannabis online, the purpose of businesses must be medical and academic. The licensing requirements state that licenses will only be issued to medical service organizations or academic institutions. To sell cannabis online, products are only allowed to contain THC (tetrahydrocannabinol) levels below 0.2%. Products created by mechanically extracting and purifying parts of the cannabis plant to produce hash, oil, and tinctures that are higher than the specified number will be considered illegal in the Thai market.
Set up a company to sell
Setting up a business to sell cannabis online is essential. First of all, in order to do business, the owner must register the Company in Thailand. To buy and sell cannabis within this country, you can start as soon as formalities are completed with the authorities. Businesses must also pay prescribed fees to maintain business.
In addition to having to prepare valid documents for sale, businesses also need to prepare omnichannel selling forms to meet the needs of customers. A good tool is one that can help businesses manage products and related information that also makes it easier to sell cannabis online and increase impulse purchases in Thailand. Moreover, it must assist the business in inventory management, payment processing support, and customer data management.
To sell cannabis online in Thailand, you must understand the laws and have a powerful tool to help increase impulse purchases. Contact us if your business is looking for a management support solution.