Global Market Surferby INTAGE Inc

[Generation Z in Asian Countries] Thailand : The Work Style Generation Z is Seeking - Focus on Young Women Starting Their Own Businesses

Thailand also has a “ranking of companies that people want to work for” similar to Japan's. The ranking by Work Venture, a job matching service company *1, has been going on for about 10 years, and companies like Google, Thai conglomerates SCG and PTT, etc. are at the top of the list. From these results, you might get the impression that Thailand's Generation Z is also very stable-minded.
In this context, in January 2025, the human resources management consulting firm QGEN announced the “Top 55 Companies to Work For” (based on an online survey of 5,424 people aged 20 to 40)*2, and the Thai cosmetics brand SRICHAND*3 came in first place. What kind of company is this cosmetics brand that has made a breakthrough to first place, beating out popular IT companies and Thai conglomerates?

SRICHAND is a cosmetics brand developed by Srichand United Dispensary Co., Ltd. It started out as a small family business Chinese medicine pharmacy in 1948, and its face powder “Srichand Scented Powder” was once popular. However, as times changed, the brand gradually declined. In 2006, Mr. Rawat, the third generation of the Srichand family, appeared as the successor and carried out a bold rebranding. In 2014, he released the “Srichand Translucent Powder”. This face powder attracted attention for its innovative packaging, which combined functionality to control perspiration and sebum with a modern Thai design, as well as its pleasant feel when used, and became the catalyst for the brand's revival. As a result, sales, which were in the 10 million baht range in 2006, increased to 300 million baht in 2014. Since then, the company has continued to achieve double-digit growth, and in 2023, its revenue reached 1 billion baht. *4

    Reference: Gotomanger (2025/1/3)

SRICHAND is also known for its extensive employee benefits that support a diverse range of lifestyles, which is thought to be the reason why it has become a popular place of employment for Generation Z. The company has a flexible working hours system and a “Work from Anywhere” policy (which allows employees to work from anywhere), and employees are entitled to 20 days of paid annual leave. In addition, employees can take special leave in their birth month. Furthermore, during Pride Month in June 2022, the company introduced a new leave system that exceeds the legal standard.
・Paid maternity leave extended to 180 days (98 days under Thai law)
・ New 30-day leave for husbands to care for their wives after childbirth
・ 30-day leave for gender reassignment surgery
In addition, the company also has a range of other systems in place to support the growth and quality of life of its employees, such as a subsidy for the purchase of one book per month and free distribution of the company's products once a month. *5
The stable management of the company by the third-generation successor and the free and relaxed work environment are probably the main reasons for the company's popularity among the younger generation.

It is said that young people's safety orientation is also related to how they view the future economic situation of their country. If the economic situation is thought to be improving, it follows that there will be more Generation Z who are willing to take on challenges.
According to the Global Viewer consumer database held by Intage, in developed countries such as South Korea, Hong Kong and Singapore, many Z generation people (around 40-50%) think that the economic situation will not change in the next year. On the other hand, in developing countries such as Indonesia and Vietnam, many Z generation people think that the economy will improve (77% in both countries). Z generation people in Thailand (66%) are seen to be more inclined towards developing countries.

(Source: Intage Global Viewer (2024))

Looking at the rankings of companies that people want to work for, it seems that many members of Generation Z in Thailand want stable employment, but it is also thought that there are not a few young people who are struggling to make their dreams of starting their own business come true.
The author herself has recently heard of a Z-generation woman who delayed her university entrance exams to launch her own cosmetics brand, and who has gone on to open an acai berry sweets shop with several branches in Bangkok.
The hugely popular cosmetics brand LOVE POTION among Thai teenage girls is the brainchild of a Z-generation woman.

https://www.instagram.com/p/DC84oJWTx7p/?hl=en&img_index=5

LOVE POTION is a brand that has achieved rapid growth by selling products via live streaming, utilizing its TikTok account with 3.3 million followers (https://www.tiktok.com/@lovepotion_officialth?lang=en)). The system is set up so that if you buy something during a live broadcast, you can get it at a discounted price, and many young women participate in real time.
The brand owner is a woman in her 20s, Ms. Card. She launched LOVE POTION in 2014 when she was 17, with the desire to “make high-quality products at affordable prices”. Ms. Card's personal TikTok account with over 11 million followers: (https://www.tiktok.com/@cardncyn?lang=en) is also extremely popular with teenage and twenty-something girls.
Her posts feature not only product introductions for LOVE POTION, but also fashion and humorous content, and she sometimes attracts attention with her bold actions. For example, she once changed the color of her car, clothes and product packaging to green after being told by an astrologer that her lucky color was green. There have also been cases where products have sold out explosively through TikTok, with thousands of products selling out within a minute of going on sale at live sales. In 2023, revenue increased by 177% year-on-year to 150 million baht, and the momentum has not slowed down since then.

Everyday Thai Tea is a Thai tea shop on Bang That Thong Road, a student district in Bangkok. The Thai name of the shop, ฉันจะกินชาเย็นทุกวัน, literally means “I will drink Thai tea every day”.
The shop interior is decorated in bright orange, with cute illustrations with bold outlines. The owner, Mr. Biew, opened the shop in 2023 after graduating from university and deciding to start his own business. It is popular with the Z generation who visit Bang Tat Tong Road, and has popular menu items such as “Signature Cha Yan” (iced tea, 70 baht).
Remarkably, in just one year since opening, it has expanded to 16 shops in Bangkok, and it is expected that revenue will reach 100 million baht in 2024. *7

In Thailand, economic growth has led to an increase in large companies with stable salaries and liberal companies with good welfare benefits. They tend to be popular places of employment for young people. On the other hand, there have always been many free-spirited people in Thailand who dislike being constrained, and many people who want to try their hand at their own business. The Z generation also shows a preference for starting their own businesses. The success stories mentioned above, which show the energy of 20-something women and their ability to use social networking services to build their brands, are truly remarkable. I think that in the future, we will see more young people inspired by these success stories and taking up the challenge of starting their own businesses.

Translated with AI Translator

*1 https://www.workventure.com/top50-companies-2024
*2 https://www.facebook.com/qgenconsultant/posts/pfbid02mru7ERmffS1W1nJh5FyZXmySjDgewN9D3wjr3QVrSeXF1iZ8fBsRqBjz2AQHhew2l
*3 https://srichand.com/
*4 https://gotomanager.com/content/136493/#:~:text=%E0%B8%97%E0%B8%B1%E0%B9%89%E0%B8%87%E0%B8%99%E0%B8%B5%E0%B9%89%20%E0%B8%A8%E0%B8%A3%E0%B8%B5%E0%B8%88%E0%B8%B1%E0%B8%99%E0%B8%97%E0%B8%A3%E0%B9%8C%E0%B8%84%E0%B8%B2%E0%B8%94%E0%B8%A7%E0%B9%88%E0%B8%B2%E0%B9%83%E0%B8%99,%E0%B8%9A%E0%B8%B2%E0%B8%97%20%E0%B8%81%E0%B8%B3%E0%B9%84%E0%B8%A3%2080%20%E0%B8%A5%E0%B9%89%E0%B8%B2%E0%B8%99%E0%B8%9A%E0%B8%B2%E0%B8%97
*5 https://srichand.co.th/en/our-benefits
*6 https://www.amarintv.com/spotlight/business-marketing/71150
*7 https://www.bangkokbiznews.com/business/business/1147398

What is Global Viewer?

A service that provides reports tailored to your needs, using questionnaire data on the various circumstances and attitudes of consumers in 11 countries (Asia and the US) that INTAGE has in stock.
The items covered include 400 items on the actual circumstances and attitudes of consumers regarding various product and service categories (*), as well as their values and information contact.

(*) Examples of categories:
Food and beverages, personal care and cosmetics, household care, childcare and nursing care, mobility, home appliances, smart homes, housing, entertainment content (games, music, etc.), finance, insurance, travel (inbound to Japan), online services, etc.

In addition to the country-by-country comparison analysis introduced in this article, it is also possible to conduct analysis by attribute (sex, age, income, etc.) within a single country.
For details, click here.

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  Author profile

  TNC Lifestyle Researcher

  I have lived in Bangkok for 18 years with my Thai husband and three children. My second daughter, who is in sixth grade, is crazy about the food, goods, and makeup items she sees on TikTok, and her dream for the future is to open a café with her friends!

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  Editor profile

  Chew Fong-Tat

  A Malaysian who has lived in Japan for 14 years. He is in charge of creating the Global Market Surfer website.

• Mar 07, 2025
• 1404 Views