As an e-commerce retailer, you probably have considered exploring emerging markets such as the ASEAN. Before making your move, let’s have a glimpse of some of the most popular markets in the region, including Thailand.
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Thai E-Commerce Trends
Thailand is a reasonable choice for your next e-commerce expansion, as its market is expected to grow at a rate of 11.73% between 2023 and 2027. In fact, Thailand was already developing out its e-commerce retail infrastructure long before the pandemic, and the trend continues with a renewed fervor.
Rapid E-Commerce Expansion in Thailand
E-commerce in Thailand has grown like wildfire in the past several years. In 2024 Q1, 7,393 new e-commerce businesses registered with capital of 43.7 billion baht. According to DEPA (Digital Economy Promotion Agency), online purchases in Thailand are expected to grow a whopping 20% this year.
Thai Consumers’ Product Preferences
The most popular category for Thai e-commerce purchases is clothing and apparel. Fashion makes up about 60% of the market, personal care is a little over 43%, and food and beverage makes up around 35%, with reference to the latest Statista figures.
Social Media & Live Commerce Influence
Alongside India and China, Thailand has the highest rate of live commerce sellers. Social media in itself is a mega-popular space for e-commerce shopping in the nation, with live commerce making up a large part of sales made off of social media sites.
When it comes to live commerce, TikTok is the most popular live-selling platform among Thai users, followed by Lazada and Shopee’s live platforms, according to a detailed coverage by Meltwater.
Thai Goverment's Investments In Support of Local E-Commerce
Financial Measures
To stimulate online retail, the Thai government as well as private and state investors have made significant investments into digital banking, a key focus area of local policies. By now, 50% of Thai e-commerce shoppers pay for their goods using the cash-on-delivery method.
Various tax incentives were also introduced to spur retail spending.
Building Better Infrastructure
Apart from banking, flourishing tourism and growing business demands in the nation have prompted the Thai government to improve its transportation infrastructure, as it plans to invest 19.4 billion USD into the construction of various motorways, ports, and trains between 2024 and 2025 to facilitate the goods and services logistics.
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This article is originally published by CBIP Logistics:
CBIP Logistics provides full-scope logistics services for DTC businesses, including freight logistics, order fulfillment, and logistics consulting. As a fourth-party logistics provider, we work with an extensive partner network of warehouses, fulfillment centers, and other logistics providers around the world to design optimized logistics operations for all of our DTC clients. Learn more about our company and services at cbiplogistics.com.
