The Quick Commerce market in Thailand has experienced significant growth in recent years.
Customer preferences: Thai consumers are increasingly turning to Quick Commerce platforms for their convenience and speed. With the rise of e-commerce and the increasing use of smartphones, customers are looking for fast and efficient delivery options. Quick Commerce platforms offer just that, with delivery times often as short as 10-15 minutes. Additionally, customers are drawn to the variety of products available on these platforms, from groceries to electronics to beauty products.
Trends in the market: One trend in the Quick Commerce market in Thailand is the expansion of international players. Large companies from China and Japan have entered the market, bringing their expertise and resources to compete with local players. Another trend is the focus on sustainability, with some Quick Commerce platforms implementing eco-friendly packaging and delivery options. Additionally, there is a growing trend of partnerships between Quick Commerce platforms and traditional retailers, allowing customers to access a wider range of products and services.
Local special circumstances: Thailand's geography and infrastructure present unique challenges for the Quick Commerce market. The country's dense urban areas and heavy traffic can make delivery difficult and slow. However, Quick Commerce platforms have adapted by using motorbikes and bicycles for deliveries, and by strategically locating their warehouses and distribution centers. Additionally, the high percentage of unbanked individuals in Thailand has led to the development of cash-on-delivery options for customers.
Underlying macroeconomic factors: Thailand's strong economic growth and increasing middle class have contributed to the growth of the Quick Commerce market. With more disposable income and less time to shop, customers are turning to Quick Commerce platforms for their convenience. Additionally, the government has implemented policies to support e-commerce and digital innovation, further fueling the growth of the Quick Commerce market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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