The eCommerce market in Thailand is currently worth about $3.5 billion making up 3-5% of Thailand's total retail market and is growing at a rate of 13.2% annually. This makes Thailand the third-largest eCommerce market in Southeast Asia by GMV, next to Indonesia ($12.2 billion) and Vietnam ($6 billion). High internet and smartphone penetration rates, and a growing middle class that's stepping into the 5G era are behind an increasingly important eCommerce scene in Thailand.In this blogpost, we estimate the Total Addressable Market (TAM) of B2C eCommerce companies selling physical goods in Thailand and then profile the TAM distribution by Product Categories, Web Sales and Shopping Carts.
Based on secondary research, validation, and analysis of PipeCandy's proprietary data, we estimated that, across brands, (<- Check this out to understand the evolution of D2C brands, identify the winners and emerging companies and track DNVBs) retailers, and marketplaces, there are about 30,000 eCommerce companies in Thailand. Amongst the other product categories, Electronics is the most dominant, with about 40% share to the eCommerce market followed by Fashion (20%) and Toys-Hobbies-DIY (15%) companies.
The eCommerce is dominated by businesses that do between 5M to 50M in online revenue (~60%).
Magento (<- Check this out to build a list of Magento ecommerce stores with specific insights like web sales, shipping volume and more.) has emerged as a popular player among other big players followed by WooCommerce, OpenCart & PrestaShop. However, since the sample surveyed accounts for just 30% of the TAM, there could be other popular shopping carts.
Prodding into the market, we found that Global Retailers (<- Check this out to build a list of top retailers from around the world in minutes) such as Amazon and eBay remain popular while local C2C marketplaces like Weloveshopping prove strong contenders that cater to local preferences. The most visited website (and ﬁrst in the eCommerce category) in Thailand is Lazada.co.th, making it the unrivaled champion of internet shopping in the country. Following Lazada’s footsteps is the Thai branch of Shopee, Notebook Spec, JIB, Advice, Chilindo and JD Central. Conclusion Apart from eCommerce marketplaces, Social media has also emerged as an important platform for eCommerce in Thailand. According to various reports, more than 50% of online shoppers make orders through social networks and thousands of eCommerce sellers maintain accounts on popular social media such as Facebook, Instagram, and LINE to transact with their customers. Currently, Facebook and Instagram have upwards of 10,000 operating eCommerce stores in Thailand. To bridge the gaps in digital connectivity in the country, the government of Thailand has implemented a “Thailand 4.0” policy, whose goal on the eCommerce front is to get the local population - everyone from villagers to sole proprietors - to adapt to selling their products and services digitally. Download free market research reports like this. We value your feedback, let us know if there are any suggestions/corrections below. For customized market research report reach out to us at email@example.com :)
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