eCommerce market in Thailand

Thailand is the 17th largest market for eCommerce with a predicted revenue of US$29,841.0 million by 2024, placing it ahead of Poland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 17.8%, resulting in a projected market volume of US$57,388.8 million by 2028. With an expected increase of 22.9% in 2024, the Thai eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. 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 24.3% of the Thai eCommerce revenue. It is followed by Hobby & Leisure with 19.5%, Fashion with 19.3%, Furniture & Homeware with 11.7%, Grocery with 9.8%, Care Products with 8.0%, and DIY with the remaining 7.4%.

Monthly revenues

Monthly revenues in the Thai eCommerce market

The monthly eCommerce revenue of the Thai eCommerce market was US$2,261 million in July 2024. This refers to a growth of -7.9% compared to June 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 9.7% of the total 2024 revenue of the Thai eCommerce market and the lowest in September 2023 with 7.6% of the total 2023 revenue.

Revenue Last Month

US$2,261.1m

The eCommerce revenue fell by 7.9% from June 2024 to July 2024.

07-2024-7.9%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)91.421.365.552.880.719.020.958.662.620.765.462.6

Market development

eCommerce revenue development in Thailand

Thailand is the 17th largest market for eCommerce with a predicted revenue of US$29,841.0 million by 2024, placing it ahead of Poland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 17.8%, resulting in a projected market volume of US$57,388.8 million by 2028. With an expected increase of 22.9% in 2024, the Thai eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. 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 24.3% of the Thai eCommerce revenue. It is followed by Hobby & Leisure with 19.5%, Fashion with 19.3%, Furniture & Homeware with 11.7%, Grocery with 9.8%, Care Products with 8.0%, and DIY with the remaining 7.4%.

eCommerce revenue development in Thailand

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in Thailand

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)90.112.61.928.821.152.321.244.1

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 12.9% and will increase by an average of 8.8% to 18.1% by 2028.

eCommerce online share in Thailand

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights, ECDB analysis

20202021202220232024202520262027
Online share (in %)24.7%58.4%8.0%15.1%38.5%10.9%79.4%70.1%

Top stores

Top five online stores in Thailand by net sales 2023

The biggest player in the Thai eCommerce market is central.co.th. The store had a revenue of US$644.5 million in 2023. 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 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Thailand - All Categories Worldwide - All Categories

Payment Methods

Top 5 offered payment methods in the Thai eCommerce market

With 77.8% VISA the most commonly offered payment method of all online stores in the Thai eCommerce market in 2023. Like VISA Mastercard with a share of 75.6% and JCB with a share of 41.1% the payment type Cards is the most common used by online retailers in in the Thai eCommerce market in 2023. Other commonly used payment methods in that market are Bank transfer/cash in advance (Bank transfer) with 67.8% and Cash on delivery (Cash on delivery) with 41.1% of stores offering that payment method to the clients.

Top 5 offered payment methods in the Thai eCommerce market

in %

Note: A store can offer more than one payment method (Multi-pick), based on 90 stores in the Thai eCommerce market

Source: ECDB analysis

See all stores offering

VISA Mastercard PayPal