The e-commerce market in Thailand is growing rapidly, and is expected to reach $30 billion in value by 2023. This growth is being driven by a number of factors, including the increasing popularity of smartphones and mobile internet, the growing middle class, and the government’s support for e-commerce development.
The Growth of Smartphones and Mobile Internet
The increasing popularity of smartphones and mobile internet is one of the key drivers of e-commerce growth in Thailand. In 2023, there are expected to be over 70 million smartphone users in Thailand, and over 90% of the population will have access to mobile internet. This means that more and more Thai consumers are able to shop online, and they are increasingly using their mobile devices to do so.
The Growing Middle Class
Another factor driving e-commerce growth in Thailand is the growing middle class. The middle class in Thailand is expected to grow from 35 million in 2023 to 50 million by 2025. This growing middle class has more disposable income, and they are increasingly using this income to shop online.
Government Support for E-Commerce Development
The Thai government is also supporting the development of the e-commerce market. The government has launched a number of initiatives to promote e-commerce, including the establishment of a National E-Commerce Committee and the launch of a national e-commerce portal. These initiatives are helping to create a more favorable environment for e-commerce businesses in Thailand.
Conclusion
The e-commerce market in Thailand is growing rapidly, and is expected to reach $30 billion in value by 2023. This growth is being driven by a number of factors, including the increasing popularity of smartphones and mobile internet, the growing middle class, and the government’s support for e-commerce development.
Here are some additional statistics about the e-commerce market in Thailand:
- In 2023, the number of online shoppers in Thailand is expected to reach 36.6 million.
- The average online shopper in Thailand spends $1,500 per year.
- The most popular e-commerce categories in Thailand are electronics, fashion, and home goods.
- The most popular e-commerce platforms in Thailand are Lazada, Shopee, and Kaidee.
The e-commerce market in Thailand is still in its early stages of development, but it is growing rapidly. This growth is being driven by a number of factors, and it is expected to continue in the years to come.