Thailand's E-commerce Market Surges with 14% Revenue Growth in 2024
Projections and Trends in the ASEAN E-commerce Landscape
Thailand's e-commerce market is witnessing significant growth, with an expected 14% increase in revenue for 2024.
During the 'DAAT DAY ADVOLUTION' event, it was projected that the market will reach 1.6 trillion baht by 2027, making Thailand the second-largest e-commerce market in ASEAN, after Indonesia.
This growth is driven by Thai consumers' growing preference for online shopping and businesses optimizing e-commerce platforms.
Thanawat Malabuppha highlighted that promotional incentives significantly impact purchasing decisions, with 54% of consumers attracted by coupons and discounts, 51.8% valuing free shipping, and 40.4% preferring cash on delivery.
Popular shopping platforms include Shopee (75%), Lazada (67%), and TikTok (51%), with Shopee leading in fashion, Lazada excelling in electronics, and TikTok in beauty products.
Additionally, social media influencers like Bella Ranee Campen, Pimry Pie, and Urassaya Sperbund increasingly shape consumer preferences in beauty and fashion.
The market is also seeing the arrival of China's Temu, a platform presenting cost-effective options by sourcing directly from manufacturers.
During the 'DAAT DAY ADVOLUTION' event, it was projected that the market will reach 1.6 trillion baht by 2027, making Thailand the second-largest e-commerce market in ASEAN, after Indonesia.
This growth is driven by Thai consumers' growing preference for online shopping and businesses optimizing e-commerce platforms.
Thanawat Malabuppha highlighted that promotional incentives significantly impact purchasing decisions, with 54% of consumers attracted by coupons and discounts, 51.8% valuing free shipping, and 40.4% preferring cash on delivery.
Popular shopping platforms include Shopee (75%), Lazada (67%), and TikTok (51%), with Shopee leading in fashion, Lazada excelling in electronics, and TikTok in beauty products.
Additionally, social media influencers like Bella Ranee Campen, Pimry Pie, and Urassaya Sperbund increasingly shape consumer preferences in beauty and fashion.
The market is also seeing the arrival of China's Temu, a platform presenting cost-effective options by sourcing directly from manufacturers.
