The internet economy in Southeast Asia has continued to show tremendous potential in recent years, exemplified by the drastic increase in the sector’s market value. Within the market,
, ahead of online travel and online media. Regionally, Thailand was second after Indonesia in terms of
in 2022. The growth did not come as a surprise, as Thailand has demonstrated high
of approximately 720 billion baht in 2022. Additionally, the market is likely to flourish by around six percent per year. With various industries such as insurance, transportation, arts, entertainment, and recreation partaking in e-commerce, the retail and wholesale industries were the most significant contributors to the sector’s constant growth.
The thriving e-commerce market in Thailand
Due to the shifting consumer behaviors as repercussions of the COVID-19 pandemic along with hectic lifestyles,
online shopping has become very popular among Thai consumers regardless of income level. More than half of the Thai population uses or has purchased products and services through e-commerce channels. The spending increase on e-commerce purchases per person in 2019 is estimated to nearly triple in 2023. The e-commerce platforms in Thailand offer a variety of products and services with competitive prices and promotions.
The most popular e-commerce products among Thai consumers were fashion products. Within the
fashion category, the apparel segment generated the highest revenue in 2022. Meanwhile, in recent years, Thai consumers have increasingly turned to buying
personal and household care,
beverages, and
food on e-commerce platforms. When it comes to
online payment methods, consumers prefer to pay directly via the website or banking application. Cash on delivery (COD) has somewhat lost its popularity since the pandemic. The rise of digital payments in Thailand, including QR payments and e-wallets, has also slowly diverted the Thai market away from being a cash-based society.
Leading e-commerce platforms in Thailand
As the e-commerce market in Thailand continues to prove its success due to its rising competitiveness, many online shopping platforms also demonstrate the capacity to maintain and expand their customer base. For Thai online shoppers, e-marketplaces such as Shopee and Lazada appeared to be
the most popular platforms in the country due to their vast range of products, promotions, simple platform structure, and timely delivery. In comparison, Facebook took the lead as
Thailand‘s most preferred sales channel for online social sellers. Given the rise of Thailand’s social commerce scene, Thai merchants see the opportunity to promote and sell products through Facebook pages, Instagram accounts, LINE SHOPPING, and more. Furthermore,
TikTok’s Thai user base has exponentially grown within the last two years, with the penetration of TikTok Shop set to expand in the upcoming years. Additionally, Grab, traditionally known as a ride hailing provider, also hopped on the e-commerce wagon and launched GrabMart offering grocery delivery in limited cities in Thailand. With consumers’ growing demand for online shopping and the efficient response of e-commerce suppliers, the future of the e-commerce market in Thailand seems to be steadily thriving.
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Due to varying update cycles, statistics can display more up-to-date
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