Thailand’s E-commerce Market will Reach US$18.8 Billion in 2024
Jayson 08 May 2024 12:21
According to news on May 7, with the substantial increase in the number of e-commerce companies and consumers' preference for online shopping, the Thai e-commerce market is expected to reach 700 billion baht (approximately US$18.898 billion) in 2024, with an annual revenue growth rate of 10.69%. . By 2029, Thailand's e-commerce market is expected to reach US$35.27 billion.
It is reported that the growth of Thailand's e-commerce industry is driven by the increase in Internet usage and online purchases. According to Data Reportal, in January 2024, Thailand had 63.2 million Internet users, with an Internet penetration rate of 88%.
Currently, the most popular social media platforms in Thailand are Facebook, Line and TikTok. As the most popular digital activity, social media has further stimulated the development of the e-commerce market.
Data shows that in 2023, the proportion of global consumers who shop online every week will be 56.1%, and in Thailand this proportion will reach 66.9%, leading many countries in the world. According to Statista's forecast, the number of online consumers in Thailand will reach 22.82 million in 2029, and the average revenue per user (ARPU) is expected to reach US$1,282.
It is reported that the growth of Thailand's e-commerce industry is driven by the increase in Internet usage and online purchases. According to Data Reportal, in January 2024, Thailand had 63.2 million Internet users, with an Internet penetration rate of 88%.
Currently, the most popular social media platforms in Thailand are Facebook, Line and TikTok. As the most popular digital activity, social media has further stimulated the development of the e-commerce market.
Data shows that in 2023, the proportion of global consumers who shop online every week will be 56.1%, and in Thailand this proportion will reach 66.9%, leading many countries in the world. According to Statista's forecast, the number of online consumers in Thailand will reach 22.82 million in 2029, and the average revenue per user (ARPU) is expected to reach US$1,282.
