Adaptation Strategies of Thai SMEs in the Digital Economy Era

Abstract

This article aims to investigate the adaptation strategies employed by small and medium-sized enterprises (SMEs) in Thailand amid the digital economy era. Grounded in a neoliberal economic framework emphasizing the role of market mechanisms and competition as key drivers of development, this qualitative study analyzes case studies and relevant literature on the adoption of digital technologies in business operations. Findings reveal that Thai SMEs   utilize digital technologies such as e-commerce platforms, social media, and data management systems as primary strategies to enhance efficiency and expand market reach. Moreover, innovation development and digital marketing emerge as critical factors enabling SMEs   to differentiate themselves and respond rapidly and effectively to customer demands. The enhancement of skills and training for personnel is also essential for sustaining competitiveness in the long term. Case study analyses highlight key enabling factors for SME adaptation, including government support, access to financing, and the establishment of business networks. Nevertheless, SMEs   face challenges related to technological knowledge, financial constraints, and disparities in infrastructure access, especially in rural areas.