Thailand’s nascent e-commerce industry is thriving and making serious money. According to the Ministry of Digital Economy and Society, Thai e-Commerce grew the most in ASEAN, the value of Thai ecommerce grew 14% in 2018, estimating that the value would increase to USD 103 billion, and its growth is expected to hit 20% this year.
The region is flourishing
According to the report Asia-Pacific B2C E-Commerce Market, over one half of total global online retail sales happens in the Asia-Pacific region. Over 50% of all the online shopping for retail goods and services takes place in the Asia Pacific region, and South-East Asia accounts for about 40% of the e-commerce market of the region.
Southeast Asia is definitely a new big e-commerce hit, and the region is currently a very attractive market for big players involved globally in the e-commerce sector and smaller local companies.
At a reflection point of Internet penetration and mobile devices rapid spread, the population of Southeast Asia is quickly adapting its behaviors to take advantage of new purchasing products and services online opportunities.
According to the latest e-Conomy Southeast Asia 2018 report from Google and Singapore-based Temasek, the digital economy in Southeast Asia is on track to hit $240 billion by 2025, which is $40 billion more than previous estimates.
As e-commerce continues to grow exponentially, Southeast Asia will account for 20% of worldwide e-commerce by as early as 2022.
Thriving Market
With a GDP worth of USD 602 billion, Thailand is the second largest economy in Southeast Asia, surpassed only by Indonesia. In addition to that, according to EcommerceIQ research, Thailand is also the second…
