The other day, when I was on a business trip to Bangkok, I visited a popular Thai general merchandise chain,Moshi Moshi (Hello)I stopped by "[place name]".
Actually, Bonbon Drop stickers (3D stickers) are currently very popular in Japan and have become a social phenomenon. I got information on Instagram that "Moshi Moshi sells stickers made in the same factory," so I decided to check it out while I was in Bangkok. I visited a store near Chinatown and wandered around the store for about 30 minutes, and the result was quite shocking, so I'll report it here.
Moshi Moshi is a lifestyle goods chain founded in Thailand in 1973. It offers over 5,000 products across approximately 13 categories, including stationery, bags, plush toys, cosmetics, toys, and snacks, and currently operates over 200 stores throughout Thailand. In 2022, it was listed on the Stock Exchange of Thailand (SET), making it a publicly traded company.
Prices start from a very affordable 20 baht (approximately 80 yen), and it's like a mix of Daiso, MINISO, and Muji – that should give you an idea of what it's like. In fact, its business positioning is very similar to MINISO, and it has an overwhelming market share in Thailand, using "cute and inexpensive daily necessities" as its weapon.
The first thing that surprised me when I entered the store was the sheer amount of Japanese. The POP displays and tags were overflowing with Japanese, and the background music was Japanese songs with female vocals, like J-POP. The brand name, of course, is "Moshi moshi" (a Japanese greeting used when answering the phone), and even the signs have Japanese text. (Although I personally say "Yo" when I answer the phone.)
MINISO also prominently features "Japanese design," and it made me realize once again how strongly the brand image of "Japan = high quality and cute" is ingrained in Thai consumers. As a Japanese person, I was honestly happy about that.
As I walked around the store, I noticed that some of the product tags had two numbers on them. At first, I didn't understand what they meant, but the mystery was solved when I looked at the information board near the cash register.
"Buying Condition: Wholesale price applies to purchases of 1,000 baht or more."
In other words, for example, an item that normally costs 30 baht will become 26 baht. That's a 20% discount.
I thought this was a brilliant strategy. The weakness of general merchandise stores is the low average transaction value, but this system encourages customers to spontaneously think, "If I buy just a little more, I'll get a good deal." Before I knew it, I was frantically going back to the shelves and buying more to reach 1,000 baht. It's a unique model that combines retail and wholesale, and I was impressed by the revenue design, which is befitting of a listed company.
I had gathered so much information about these "puffy, three-dimensional stickers" from Instagram that I found them lined up in stores with exactly the quality I was looking for. The packaging is different from the ones currently popular in Japan, but the texture and design are clearly in the same vein.
The price was an incredible 60 baht (approximately 240 yen). Compared to popular items in Japan that are scarce and expensive, this is amazing value for money. I bought a ton of them.
However, I couldn't find any stickers featuring officially licensed characters from Sanrio or Disney; the focus was mainly on original characters. Perhaps that's why the prices are lower.
Behind its outward appearance of being "cute and inexpensive," Moshi Moshi was a reputable Thai company with a solid business model that incorporated high gross profit margins through private label products, increased average customer spending through a 1,000 baht wholesale system, and the maintenance of product freshness through licensed characters.
If you ever have the chance to visit Bangkok, be sure to stop by while you're sightseeing. It's especially great for finding souvenirs for children. Just be careful not to overspend, like I did!
