E-commerce value in Thailand 2023 by industry
In 2023, the e-commerce value of the retail and wholesale industry in Thailand amounted to around 3.2 trillion Thai baht. This was followed by the production section, with a value of approximately 775 million Thai baht registered in that same year. The e-commerce sector in Thailand is transitioning towards live e-marketplaces with more active interactions among buyers and sellers.
The top e-commerce platforms
The top e-commerce websites in Thailand are Lazada and Shopee. Lazada is an international e-commerce platform headquartered in Singapore, now owned by the Alibaba group. The site sells its inventory and utilizes a marketplace for third-party sellers. Over the past years, the revenue of Lazada has increased constantly.
The future of e-commerce
The strength of e-commerce in Thailand relies on the country’s technological capabilities. With increasing internet penetration and an introduction of 5G networks, there are various possibilities for the country’s e-commerce sector to expand. Although internet technology made online payment available, Thais still prefer to pay for their products through cash on delivery since it is believed to be their most trusted payment method. Another popular payment method for e-commerce enterprises is internet banking. With the transition of payments and newer technology, e-commerce in Thailand is moving towards more interaction between sellers and buyers in real-time.
