eCommerce market in Thailand

Thailand is the 19th largest market for eCommerce with a predicted revenue of US$22,416.7 million by 2023, placing it ahead of Argentina. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 5.5%, resulting in a projected market volume of US$27,800.6 million by 2027. With an expected increase of 1.8% in 2023, the Thai eCommerce market contributed to the worldwide growth rate of 8.7% in 2023. Like in Thailand, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Thai eCommerce market. Electronics is the largest market and accounts for 23.8% of the Thai eCommerce revenue. It is followed by Hobby & Leisure with 23.2%, Fashion with 18.8%, Furniture & Homeware with 11.1%, Grocery with 8.1%, Care Products with 7.7%, and DIY with the remaining 7.2%.

Market development

eCommerce revenue development in Thailand

Thailand is the 19th largest market for eCommerce with a predicted revenue of US$22,416.7 million by 2023, placing it ahead of Argentina. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 5.5%, resulting in a projected market volume of US$27,800.6 million by 2027. With an expected increase of 1.8% in 2023, the Thai eCommerce market contributed to the worldwide growth rate of 8.7% in 2023. Like in Thailand, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Thai eCommerce market. Electronics is the largest market and accounts for 23.8% of the Thai eCommerce revenue. It is followed by Hobby & Leisure with 23.2%, Fashion with 18.8%, Furniture & Homeware with 11.1%, Grocery with 8.1%, Care Products with 7.7%, and DIY with the remaining 7.2%.

eCommerce revenue development in Thailand

in million US$

eCommerce revenue growth in Thailand

in %

Net eCommerce revenue split by sub-category

in %
2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 24.3 3.7 70.9 90.7 19.9 0.2 99.5 51.0

Online share

eCommerce online share in Thailand

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Thai retail market, the online share is 11.9% and will increase by an average of 8.0% to 16.1% by 2027.

eCommerce online share in Thailand

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 81.6% 56.6% 75.3% 7.2% 85.0% 72.6% 93.0% 84.9%

Top stores

Top five online stores in Thailand by net sales 2022

The biggest player in the Thai eCommerce market is central.co.th. The store had a revenue of US$565.7 million in 2022. Store rankings include every store that generates revenue in Thailand. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Thailand was considered.

eCommerce net sales generated in Thailand in 2022

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m 8.3%
US$550.0m
12.0%
US$4,600.0m 12.4%
US$470.0m
3.9%
US$1,190.0m 33.6%
US$430.0m
20.6%
US$2,122.0m 18.0%
US$370.0m
20.7%
US$1,814.0m 12.6%

Payment Methods

Top 5 offered payment methods in the Thai eCommerce market

With 78.3% VISA the most commonly offered payment method of all online stores in the Thai eCommerce market in 2022. Like VISA Mastercard with a share of 76.1% and JCB with a share of 41.3% the payment type Cards is the most common used by online retailers in in the Thai eCommerce market in 2022. Other commonly used payment methods in that market are Bank transfer/cash in advance (Bank transfer) with 66.3% and Cash on delivery (Cash on delivery) with 42.4% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Thai eCommerce market

in %

See all stores offering