THAILAND
Thailand’s eCommerce market has been growing steadily since 2017 and is worth more than US$ 27.7 billion. Growth is expected to continue at a compound annual rate of 7.7%.
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Brief
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Key Players
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Highlights
Brief
Thailand’s eCommerce market has been growing steadily since 2017 and is worth more than US$ 27.7 billion. Growth is expected to continue at a compound annual rate of 7.7% until 2023. Thailand’s growing eCommerce market is focused on mobile applications, with an estimated mobile eCommerce market of US$ 15.8 billion in 2020. Cross-border eCommerce consumes almost 30% of the overall eCommerce market in Thailand.
Almost 50% of online shoppers have already made a purchase from abroad.
Thailand has around 48.6 million internet users, an increase of 3.4 million (7%) between 2020 and 2021. Thailand also has 47.5 million mobile users and 55 million social media users.
Key Players
The top five eCommerce platforms are Shopee, Lazada, Kaidee, AliExpress, and Amazon, all seller platforms with advanced logistics and delivery infrastructure.
Highlights
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Thailand’s eCommerce market is now worth more than US$ 27.7 billion; Growth is expected to continue at a compound annual rate of 7.7%
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Online sales are expected to hit US$ 49 billion in 2020, up from US$ 33 billion in 2017
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The mobile commerce market expects a compound annual growth rate of 12% to US$ 25 billion by 2023, driven by rising smartphone penetration (around 40%) and an established preference for mobile over desktop shopping.
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eCommerce platforms in Thailand are divided into B2B transactions, B2C transactions, and B2G (Government) transactions.
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Among the three groups of transactions, B2B transactions are the largest and account for 55%, followed by B2C transactions at 29% and B2G transactions at 16%.