Thailand’s e commerce market is forecast to top 1 trillion bath in 2016 driven by the rise of smart devices the entry of foreign vendors and the government’s commitment to the digital economy, says the commerce ministry.
Thailand’s e-commerce will continue to thrive for years to come…………
We expect the industry to grow by at least 20% this year and 35-40% in 2015 with the entry of e-commerce entrepreneurs and the government’s policy of investing more aggressively in broadband expansion and digital technology
Based on figures from the national statistical office, Thailand’s e-commerce market is worth 744 billion baht, consisting of business-to-business (79.8%), business-to-customer (19.3%) business-to-government (1%)
Small business (up to five people) account for 66.8% of e-commerce, with medium-sized firms (six to 50 people) making up 26.6% and large enterprises (more than 50 people) comprising 6.6%.
Transactions via mobile are expected to account for half of e-commerce sale this year, up from 16% last year.
Since 2013 a handful of foreign e-shopping website have set up business in Thailand.
These include Alibaba.com, the world’s largest wholesale e-commerce company and which recently teamed up with Kasikornbank, Thailand’s fourth-biggest bank by assets, to help support Thai SMEs entering China’s e-commerce market.
Thailand’s e-commerce market is also tipped for intensified competition, as Taobao---an online shopping portal under Alibaba and similar to eBay—is aggressively expanding in Southeast Asia to sell cheap Chinese-made products to ethnic Chinese in Singapore and Malaysia
………….deputy director-general of the business development department, said fashion products and cosmetics were particularly popular items, with more than 400,000 online shoppers a year.
The Thailand e-commerce Association has proposed an e-commerce development plan to the government, aiming to increase the number of new Thai and foreign entrepreneurs and develop the digital economy more quickly