Thai e-commerce ranked 1st in ASEAN for its growth.
The Electronic Transactions Development Agency (Public Organization) of the Ministry of Digital Economy and Society, furthermore referred to as the ETDA, reported noteworthy statistics about Thai e-commerce.
Thailand was ranked 1st in ASEAN for its growth!
From 2014 until present, ETDA reported that the asset value of Thai e-commerce has been increasing consistently by 8-10% every year, especially in the B2C sector which increased by upwards of 14.04%.
This incredible growth is a result of the fast growing number of internet users, which increased 9.3 to 45 million during the last 10 years. Other contributing factors are an increasing trust in e-commerce, a better online payment infrastructure as well as improved delivery capabilities.
In 2019, ETDA expects that Thai e-commerce will grow to 3.2 trillion baht, largely due to seasonal promotional events such as 11.11, 12.12 and Black Friday that allow e-commerce platforms to launch enticing promotions and boost their sales.
During the holiday season, some platforms are able to generate 1.44 billion baht in sales by selling 1.7 million units within 3 days. The most popular categories during this time are children’s products, electronics, smartphones, cosmetics and skincare.
Lazada Thailand, a major player in Thai e-commerce, hit a record high during their 11.11 event by driving 10 million users to its platform and generating a ten times higher order volume than usual.
In addition to e-commerce, social commerce is another popular shopping channel for Thais. ETDA reported that social media ranked as the 2nd most popular shopping channel. This is due to the conveniences that come with these channels such as a closer distance between buyers and sellers and bargaining opportunities.
The most popular social commerce platforms are Facebook (93.94%), Line (3.09%), Google (1.48%), YouTube (1.34%) and Instagram (0.15%)
While many enterprises prioritise Big Data as intelligent tool to analyse consumers behaviour to advertise new products (100%), plan marketing strategy (92.85%) and select the distribution channel (85.71%) Many large e-commerce enterprises prioritise Big Data as a tool to analyse consumer behavior to help advertise new products, plan marketing strategies and select the best distribution channels.
With Thailand ranking first in ASEAN for e-commerce growth, Heroleads foresees numerous opportunities for Thai e-commerce, which is why we have built up digital expertises and are capable of offering a one-stop-service solution to manage online campaigns effectively.