The Ministry of Digital Economy and Society (DE) revealed that Thai e-Commerce grew the most in ASEAN with changes in consumer behaviour in 2018, estimating that the value would shoot up to 3.2 trillion baht.
The number of Internet users in Thailand has grown 4 times over the past 10 years, and many Thai-International platforms have grown to support the number of online shoppers, along with increasing confidence in e-Payment and faster logistics and delivery services.
Service providers have chosen to use Big Data to analyse the behaviour and needs of consumers, while AI is being used to develop the quality of the product and services through uses of Chatbots.
Trends show that growth will continue with the arrival of 5G, creating new innovations that will lift up the quality of life for consumers.
Mrs. Surangkana Wayuparp, the Executive Director and CEO of Electronic Transactions Development Agency (Public Organization) or ETDA, Ministry of Digital Economy and Society (DE) revealed that the results of surveys that value of e-Commerce in Thailand has grown consistently between 8-10% per year. ETDA has been collecting these statistics since 2014.
From 16 to 45 millions Internet users in 10 years
When comparing the number of Internet users over the past 10 years, there were only 16.1 million Internet users in 2008; latest information revealed that in 2017, there were 45.2 million users.
Thai e-Commerce is to develop even further because, statistically, Thailand has over 45 million Internet users (in 2018), 124.8 million mobile subscribers (2019), 44 million people using LINE messenger (2019), 52 million Facebook users (2019), and there is a trend that points to the value of e-Commerce in Thailand reaching up to 3.2 trillion baht (2019)
This reflects the change in consumer behaviour that has come as a result of the changes in technology and communication devices, as well as the reduction of the price of these devices and services, which has resulted in more people having more online access.
This has resulted in the e-Commerce market of Thailand growing as well, including increasing numbers of both buyers and online sellers, which is also in line with the growth of platforms by Thai and international businesses.
Understanding Asia’s fast-moving digital ecosystem
in 2017, Asia saw 319 million new mobile connections, compared with just 5 million new mobile connections in Europe over the same time period.
The digital future of Asia is already here. In China, millions of people enter public transportation each day using their smartphones, emerge and pay for their breakfast with WeChat, and use an app to have their lunch delivered a few hours later.(more…)
Thailand Tech Startup Ecosystem Report 2018
The announcement Eko closing a $20 million Series B funding was the biggest startup deal in Thailand at the end of the year
Alibaba and WHA Corporation Plc jointly invest in EEC e-commerce project
WHA invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.
The Thai Minister of Industry, Uttama Savanayana, stated that the Chinese e-commerce giant Alibaba and the Thai distribution and industry company, WHA Corporation Plc, have made joint investment plans.
WHA is registered in the Stock Exchange Thailand (SET) and recently obtained permission from the development committee for the Easter Economic Corridor (EEC) in Thailand to establish a special e-commerce district.
In concrete terms, WHA purchased an area of 371.2 thousand square meter in Bang Pakong, Chachoengsao, for their special e-commerce district.
WHA also invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.
“These two companies have become partners in the e-commerce district project of Chachoengsao. Apart from the company presence on the ground, this project also supports the national distribution system and online trade services.”
Thai Minister of Industry, Uttama Savanayana
“Alibaba plans to construct a distribution center and provide services to the e-commerce market in Southeast Asia,” said Mr. Uttama.
This is according to Mr. Uttama who added that the government encouraged this innovative project to lift the level of technology to new heights. At the same time, Alibaba seeks to invest more in Thailand and expand its business in Southeast Asia.
“The special e-commerce district includes a research and development center, and a development center for small and medium companies.”
Thai Minister of Industry, Uttama Savanayana
He further stated that Alibaba hopes to link the small and medium companies in this area into a supply chain that delivers products for their e-commerce market.
They also hope to attract more Chinese companies to invest in Thailand.
Building a better Belt and Road
BRI is a collection of loans and not a basket of free lunches. Belt tightening awaits indebted countries along the...
SET signs MoU with Shenzhen bourse to strengthen Thailand-China capital market
The Stock Exchange of Thailand (SET) signed a memorandum of understanding (MoU) with Shenzhen Stock Exchange (SZSE)
Cambodia-Thailand trade to develop further
Cambodia and Thailand have agreed to develop more strategies to boost bilateral trade, to achieve a target of USD 15...
World Bank cuts Thailand’s growth rate projection to 3.8%
Growth in developing East Asia and the Pacific (EAP) is projected to soften, while growth rate in Thailand is expected...
Four major EEC infrastructure projects reviewed
The Thai government is advancing four infrastructure projects in the Eastern Economic Corridor (EEC)
Subscribe via Email
- Economics2 days ago
Thailand’s Human Capital Key to Long-Term Growth
- Investment2 weeks ago
Thailand to support aerospace sector via new incentives
- Environment3 days ago
Thailand to tackle plastic waste by 2030
- Economics3 days ago
Thai exports drop 4.9% in March
- Banking2 days ago
Thai Banks to tax savings interest above 20,000 baht
- Environment3 weeks ago
Is “Dirty Air” the new normal for Thailand?
- China3 days ago
Will Thailand’s Chinese High-Speed Railway Be Worth It?
- Business4 days ago
Thailand to the Forefront of Asia and ASEAN’s MICE Industry