Thor Group and Focus Technology have reached a cooperation agreement to launch an e-commerce platform to enter Europe

It is understood that Thor Group is headquartered in Singapore, specializing in online casual games and financial services, and has offices in multiple countries in Southeast Asia and South Asia .

Currently, Thor Group is launching a cross-border e-commerce business that serves consumers directly through a partnership with Focus Technology, a B2B international trade company .

Thor Group is not the first company in Singapore to expand from gaming to e-commerce across multiple markets. Sea Group’s e-commerce platform Shopee is a good example.

Frank Lee, vice president of Thor Group, said : "Our research and analysis show that core capabilities accumulated in the gaming sector, such as technology applications, have proven to be particularly effective in e-commerce.

The reason why Thor Group chose the European market is that the European e-commerce market still has great potential in terms of the volume of cross-border e-commerce , good infrastructure and relatively favorable market environment .

At the same time, European financial institutions can provide more services , and in an environment of fierce global competition, Thor Group can use its understanding of local users to enter the market faster.

The company's expansion from the gaming business to e-commerce has both obvious advantages and disadvantages in terms of operations. The expansion of game developers into the e-commerce field depends on how they work , and as the company began to engage in e-sports and gaming equipment, Thor Group has the "gene" of e-commerce.

The obvious advantage of Thor Group is that it can accurately target users, but its disadvantage is that there is little room for vertical expansion, and it is difficult to rely on the attributes of e-sports to promote cross-border sales of other products with similar user groups.

The COVID-19 epidemic has greatly accelerated the pace of global consumers' acceptance of online shopping during 2020. As China took the lead in restoring the supply chain, cross-border e-commerce platforms have also assumed more responsibility in stabilizing foreign trade , leading to more investment in the industry.

The Thor Group and Focus Technology partnership will shift its focus from serving businesses to serving consumers directly .

Leading assets in Focus Technology's e-commerce portfolio include Made-in-China.com, a B2B international trade platform, and Crov.com, a B2B cross-border trading platform , inQbrands Inc. and Doba.com.

The core strength of the collaboration between Thor Group and Focus Technology is their expertise in increasing traffic and supply chain, two elements that are critical in the global market .

If these two companies cooperate and expand into the European market, it will also be a great opportunity for sellers who are preparing to enter this market.

Cross-border e-commerce market

Southeast Asia