e-Commerce Market Analytics

The eCommerce market in Thailand

Thailand is the 22nd largest market for eCommerce with a revenue of US$10.5 billion in 2021, placing it ahead of Austria and behind Switzerland.

With an increase of 28%, the Thai eCommerce market contributed to the worldwide growth rate of 15% in 2021. Just like in Thailand, global eCommerce sales are expected to increase over the next years. As new markets are emerging, global growth will continue over the next years. This development will be propelled by East and Southeast Asia with their growing middle class and their lagging offline infrastructure.

With a yearly growth rate of 8% between 2021 and 2025, Thailand is even expected to outperform the global average of 6%.

The eCommerce market in Thailand

Top online stores

The biggest player in the Thai eCommerce market is jd.co.th. The store had a revenue of US$1.2 billion in 2021. jd.co.th is followed by apple.com and shopee.co.th as the second- and third largest stores with US$194 million and US$139 million, respectively. Altogether, the top three stores account for 15% of online revenue in Thailand.

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.

One of the fastest-growing stores in the Thai market is maccosmetics.co.th. The store achieved online net sales of about US$1.3 million in 2021. Its revenue growth amounted to 123% in the previous year.

More information on the top 100 online stores in Thailand can be found in our ecommerceDB Country Report.

Growth champions:
Editorial tips:

Top online eCommerce stores in Thailand by eCommerce net sales 2021 in million US$

# Store
1. shopee.co.th
US$363.0m
2. jd.co.th
US$213.5m
3. apple.com
US$184.6m
4. advice.co.th
US$65.7m
5. central.co.th
US$54.5m

The eCommerce market in Thailand

Market size and growth rate

Revenue in 2021
US$19,088.5m
REVENUE
CAGR 2021-2025
14.1%
CAGR
Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.

Visit Statista.com

The eCommerce market in Thailand is expected to increase over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate for the next four years (CAGR 21-25) will be 8%. Compared to the year-over-year growth of 28% between 2020 and 2021, this decrease in yearly growth suggests a moderately flooded market. However, an indicator of growth potential is the online penetration of 44% in Thailand; in other words, 44% of the Thai population have bought at least one product online in 2021.

Five categories are considered by ecommerceDB. Food & Personal Care is the largest segment in Thailand and accounts for 35% of the eCommerce revenue in Thailand. It is followed by Electronics & Media with 31%, Toys, Hobby & DIY with 20%, Fashion with 9%, and Furniture & Appliances with the remaining 5%.


The eCommerce market in Thailand

Top shipping service providers

In Thailand, Kerry Logistics is the most frequently offered delivery service provider among online stores. Of those stores indicating which service they use to transport their goods, 50% cited Kerry Logistics as one of their providers. Moreover, EMS and TNT are among the top three shipping service companies offered by online retailers in Thailand, at rates of 50% and 12%.

Shipping information is based on orders from the store's main country, which is defined as the one where the store generates most of its online revenue. As a result, only stores that generate more net sales in Thailand than in any other country are taken into account. Furthermore, only stores that provide information about their shipping providers can be considered.

Competitor analysis of shipping service providers in Thailand

# Shipping service provider
1. Kerry Logistics
50.0%
2. EMS
50.0%
3. TNT
12.0%