Germany-based secondary market research firm yStats.com has released a new publication titled “Thailand B2C E-Commerce Market 2019”. As revealed in this market report, Thailand is expected to maintain a double-digit growth rate in online retail sales, spurred by the trends of social commerce and mobile shopping. With this robust growth, Thailand is projected to maintain its strong position in Southeast Asia in terms of B2C E-Commerce sales through 2025.
Increasing digital connectivity leads to growth in online commerce
The second largest B2C E-Commerce market in Southeast Asia, Thailand is seeing rapid growth of online retail sales. Both Internet and online buyer penetration rates are on the rise, contributing to the expansion of digital commerce. According to a forecast cited in the yStats.com report, B2C E-Commerce sales in Thailand are expected to grow at a double-digit CAGR between 2018 and 2025.
Thailand is a world leader in social media shopping
The top two market trends in Thai B2C E-Commerce are mobile and social shopping. Thailand is the Southeast Asian regional leader in M-Commerce penetration. Mobile-related sales accounted for more than two-thirds of online retail in 2018 and M-Commerce sales in Thailand are projected to nearly double between 2018 to 2021, according to data cited by yStats.com. Furthermore, Thai consumers are among the world’s top social buyers, with around one-half of online shoppers making purchases through social networks like Facebook.
Local Thai firm links with Chinese seller to compete with regional online merchants
Lazada is the top online shopping destination in Thailand, maintaining a clear lead in terms of online shoppers’ preference, according to surveys referenced in the yStats.com report. In second rank is Shopee.co.th, a division of Singapore-based Sea Ltd. Affirming the unconditional leadership in Thailand, Shopee together with Lazada were also the top shopping mobile apps in Q1 2019, according to a source cited in the yStats.com report. In 2019, competition in Thai B2C E-Commerce could become more intense as the country’s largest retail operator Central Group and China’s top online retailer JD.com joined forces for the launch a new online shopping platform “JD Central” backed by a comprehensive E-Commerce ecosystem.