Insights into the growth of Thailand eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
Thailand is home to 68 million people with a total GDP of 395 billion USD. GDP per capita is currently 6,205 USD and expected to reach 7,349 USD by 2021. Thailand is ranked 119th by the World Bank GDP per capita rankings.
Digital User Insights
There are currently 12.1 million eCommerce users in Thailand, with an additional 1.8 million users to be shopping online by 2021. These 13.9 million eCommerce users will represent 24.5% of the total population. The average user spends 243 USD online, which will grow to 382 USD by 2021.
Dividing internet usage into age groups, gives a better picture of the Thailand eCommerce market. 76% of 15-19 year olds use the internet, and 52% of 20-29 year olds, with 34% of 30-39 year olds. The older generations log on less regularly with 40-49 year olds showing 23% internet penetration, and 9% of those over 50 logging on.
Total eCommerce revenue across all product categories is 2.9 billion USD, expected to reach 5.3 billion USD by 2021. Electronics is currently the leading product category, accounting for 1.3 billion USD market share. Fashion is second, accounting for 525 million USD.
By 2021, Electronics will still lead the charge, valued at 1.8 billion USD. Fashion will also grow, reaching 1.3 billion USD.
Preferred Online Payments
A significant number of payments for online purchases are made offline via Cash on Delivery and Payments Over-the-Counter (together these account for 35% of all online payments). There are less than 8 million credit card owners in Thailand. Digital payments which are made online utilize bank transfers (30% of all online payments).
Where does Thailand buy from?
China supplies Thailand with 40.9 billion USD in imports. Other key import partners are Japan (29.6 billion USD), the United States (12.3 billion USD), Malaysia (11.8 billion USD) and Singapore (7.59 billion USD).
Internet and Device Usage
Internet penetration in Thailand is currently at 43%, and should reach 50% by 2021. Smartphone penetration is 32% and is projected to grow to 40% by 2021.
Thailand is among several countries in the Asia Pacific region which is considered mobile first. 66% of all web traffic is mobile, with 44% of traffic divided between all other devices.
Marketing spend in Thailand is spread across a range of platforms. Digital/Internet advertising spend is relatively low in comparison to other networks (0.05 billion USD). Brands spend more on traditional advertising mediums like TV and newspapers. TV accounts for the highest market spend and the only advertising spend to surpass 1 billion USD.
For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets.
*Insights derived from eShopWorld data, Statista, WorldBank, OECD and other industry sources.