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*The sale of certain products in this market may be subject to international export regulations. If you would like to learn more about selling into this market, lets chat.
Thailand is the second largest ecommerce market in Southeast Asia with cross-border spending making up 50% of its spend. Ecommerce spending per capita is high in Thailand at $1,746 per person annually. Thailand’s mobile commerce is valued at $8.9 billion in-app and $4.7 billion in-browser mobile purchases. The driving factors for ecommerce growth come from increased internet and smartphone use as well as improved logistics.
Revenue in the ecommerce market is projected to reach $7.3 million in 2020. Revenue is expected to show an annual growth rate of 11.1%, resulting in a projected market volume of $12.3 million by 2025. The market’s largest segment is electronics and media with a projected market volume of $2.4 million in 2020.
Cash on delivery continues to be the most popular online payment method, although efforts are being made to motivate shoppers to move away from cash. Cash on delivery represents 28% of the market, with credit cards at 24%, bank transfers at 23%, and digital wallets at 14%.
Southeast Asia was already a fintech and an ecommerce hub, but 2020 has seen a resounding increase in the speed with which the region accelerated toward online payments in ecommerce, riding the trend created by the Covid-19 pandemic swiftly into establishing a cashless society as the new norm.
Cross-Border Fulfillment: Landed Cost is Available.
In-Country Fulfillment: Not available