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E-commerce in Thailand expected to reach 700 billion baht in 2024
The e-commerce segment in Thailand is expected to reach 700 billion baht this year, driven by a significant increase in business registrations and consumer adoption of technology for retail purchases.
The growth of the e-commerce sector in Thailand is driven by increased internet usage and online purchases, with many businesses registering in this sector.
- The e-commerce segment in Thailand is expected to reach 700 billion baht this year, driven by a significant increase in business registrations and consumer adoption of technology for retail purchases.
- The growth of e-commerce has led to a surge in demand for warehouse space and sustainable packaging solutions, as well as an expansion in the country’s supply chain and logistics operations.
- With the e-commerce market value expected to continue rising in the coming years, businesses are focusing on last-mile delivery services, digital advertising, and analyzing consumer behavior through data analytics on social media.
In January 2024, Thailand had 63.2 million internet users, with an 88% penetration rate, according to a DataReportal report.
Thais are spending more time online, averaging 7 hours and 58 minutes per day. Social media is the most popular digital activity, followed by communication and online purchases.
The most used social media platforms in Thailand are Facebook, Line, and TikTok. A 2023 survey found that 66.9% of Thai internet users made online purchases on a weekly basis.
E-commerce business registrations have significantly increased over the past six years, with the number of establishments and the value of registered capital growing. In 2018, there were 310 establishments with registered capital of 545 million baht.
As a result, there is a growing demand for warehouse space and logistics services to facilitate express delivery. The rise in e-commerce has also led to an increased focus on sustainable packaging solutions.
The director-general of the Business Development Department anticipates further growth in the e-commerce market value in the coming years, reaching 750 billion baht in 2025.
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