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The Thai Department of Business Development is bolstering support for online commerce
The Thai Department of Business Development is actively promoting e-commerce adoption among small and medium-sized enterprises (SMEs).
The Thai Department of Business Development is working to support the adoption of e-commerce by small and medium-sized enterprises (SMEs).
Key takeaways
- The Thai Department of Business Development is working to support online commerce.
- E-commerce is expected to reach 750 billion baht by 2025.
- The department has partnered with TikTok Shop, Shopee, Lazada, and NocNoc.
According to various sources, e-commerce will reach 750 billion baht by 2025. Auramon Supthaweethum, the department’s director-general, explained that the Thai e-commerce market is expected to reach 700 billion baht in 2024, up from 634 billion in 2023, driven by a significant increase in business registrations and consumer adoption of technology for retail purchases.
In 2024, nearly 7,393 e-commerce businesses were registered with a capital of 43.7 billion baht, compared to 1,713 entities with a capital of 2.27 billion in 2023.
Supthaweethum added that those who quickly adapt and leverage technology can reach a broader customer base, increase sales rapidly, and grow their businesses more easily.
The initiatives carried out by the department aim to ensure solid growth, adaptability to change, and readiness for the expanding e-commerce market.
Recently, the department has carried out various initiatives to support online commerce. A recent example is the partnerships formed with e-commerce platforms TikTok Shop, Shopee, Lazada, and NocNoc.
As part of these partnerships, a wide range of training and digital enhancement courses have been provided to entrepreneurs, including online marketing tools and techniques, sales campaign execution, and building strong networks with leading brands and creators to improve their growth and performance.
The development of the e-commerce in Thailand
Thailand’s e-commerce sector is experiencing remarkable growth, driven by increased internet penetration and a shift in consumer behavior towards online shopping. The market is projected to reach 700 billion baht, up from 634 billion baht in 2023, reflecting a robust expansion. This surge is largely due to the rising number of business registrations and the widespread adoption of digital technologies by consumers.
Consumer behavior in Thailand has also evolved significantly, with more people spending time online and making frequent online purchases. As of January 2024, Thailand had 63.2 million internet users, with an 88% penetration rate. Social media platforms like Facebook, Line, and TikTok are particularly popular, serving as key channels for digital advertising and consumer engagement.
The e-commerce boom has also led to increased demand for logistics and warehouse services, as well as sustainable packaging solutions. Businesses are focusing on last-mile delivery services and leveraging data analytics to better understand consumer behavior.
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