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.

Highlights

• 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%.