In an effort to jump start its Pattaya operation, Barter Card (Thailand) hosted a welcoming party and marketing promotion to lure in new members.
The Dec. 8 party at Valentine’s restaurant on Soi 13 was hosted by Barter Card (Thailand) managing director, Raevadee Wattanurak, Pattaya branch manager, Ginna Bradbury, and local brand manager, Niran Kossaeng.
The Barter Card team, with leader Raevadee Wattanurak (2nd left) addresses potential new subscribers at their press conference Dec. 8.
Executives said the Thai program has, in the past, seen growth of 10 percent per year and up to 8 million baht in sales per month. Members, they said, exchange about 42,000 baht each. The Pattaya branch, despite several rounds of management turnover, still is recording 900 transactions a month.
The company has a goal of reaching 90 million in goods to be exchanged in the next year, although executives conceded more marketing work needs to be done to teach customers the Barter Card system.
Raevadee acknowledged that Barter Card’s business has been affected in Thailand by a number of factors, including political strife, natural disasters and the economy. Small and mid-size companies have been particularly hurt and Barter Card, she said, is interested in obtaining new members in the tourism industry.
She said cash-strapped companies are ideal candidates for Barter Card as they can obtain items they need to operate without using cash. Barter Card, however, requires paid memberships and business owners who feel they cannot find customers on their own tend to rely on Barter Card agents to supply them enough customers so they can fund their barter spending.
Niran said the Pattaya branch has about 220 companies under its care, including real estate and construction businesses, restaurants and tourism ventures who have seen demand from customers in Barter Card’s home country, Australia.
Lifetime memberships can be purchased for 18,000-50,000 baht. The company then fronts members up to double that in credit. However, if the customer cannot find enough business to pay off that credit, the member is held financially liable for any credit over the initial enrollment payment.
In addition, Barter Card keeps 5.5 percent of all transactions and collects monthly maintenance fees, whether its services are used or not.
Founded in Australia in 1991, Barter Card operates six branches in Thailand, including Bangkok, Chiang Mai and Phuket.
