Asia’s retail industry has been consistently evolving to meet the ever-changing consumer needs and expectations. For market players, the key to success lies in how well they understand and adapt to the changing market environment. In our latest report What’s New and What’s Next in Thailand Retail, we provide you with the major retail facts and latest trends in Thailand’s retail sector.

Key highlights

The Thai government has rolled out “Thailand 4.0 Policy”, a national economic scheme aiming to transform Thailand into a value-based economy through digital transformation and upgrading; the digital initiative has underpinned e-commerce growth and created abundant opportunities for e-commerce businesses in the country.

An increasing number of Thai shoppers using social media platforms, such as Instagram, Facebook and Line, to purchase online has fueled the growth of social commerce in the country. Social commerce is experiencing strong growth in Thailand and playing an increasingly important role in B2C and C2C e-commerce transactions. Meanwhile, driven by the social e-commerce boom and consumers’ strong desire for convenience, mobile payments are also witnessing rapid growth in Thailand.

To keep up in the digital age, many traditional retailers have embarked on digital transformation and applied digital technologies in-store to enhance the consumer experience. Such cutting-edge technologies have been reshaping Thailand’s retail market and impacting the buying behaviors of consumers.

In addition, facing new challenges from e-commerce players and stiffer competition in the market, some retailers have reinvented themselves by making inroads into new sectors or launching new services in a bid to create a greater shopping experience. To cash in on the tourism boom in the country, major retailers have also expanded into the outlet mall format to entice more foreign customers, especially free-spending Chinese tourists – currently the largest source of tourist arrivals in Thailand.