Top 10 eCommerce Marketplaces in Thailand
There is a lot more to Thailand than just pristine beaches and holiday hotspots. The Southeast Asian peninsula has been emerging (2019 data) as the second-largest economy of the region.
Largely a nation that depended on its exports, Thailand has seen its fair share of ups and downs owing to military coups and near recession like situations in the last decade.
Despite the gnawing setbacks, Thailand has repeatedly bounced back largely owing to its automotive exports and the meteoric rise of tourism, which contributes to six percent of its national income.
Known as a country with a heavy reliance on the export of electronics, automobile-related commodities, and processed food, it was no surprise that Thailand would take to e-commerce like a fish to water.
A survey carried out in 2019 showed that Thailand’s e-commerce marketplace contributes to a handsome $4,960 million to the economy, and the future course will only be upward with a predicted increase of approximately $1,500 million in the next four years. Thailand also boasts of a phenomenal e-commerce penetration of 52.1% as of 2020, with the average revenue per user pegged at $136.6.
Almost 82 percent of the 70-million strong population are avid internet users, a percentage that is only behind Singapore (84.2). Many players including brick-and-mortar brands have been vying heavily to grab a stake in the growing Thai e-commerce marketplace, but much like most of the Southeast Asian region, it is a two-horse race with Lazada and Shopee ruling the roost.
1. Lazada Thailand
The undisputed leader of the Thailand e-commerce marketplace, Lazada also has strong holdings in the rest of Southeast Asia. This brainchild of Rocket Internet was acquired by Chinese e-commerce giants Alibaba Group in 2016.
Lazada is an online departmental store that provides traditional retail merchants an opportunity to showcase their product range on the website. Beating second-best Shopee by a whopping 14-million visits, Lazada reaffirms its spot at the helm.
2. Shopee Thailand
A household name in Southeast Asia, Shopee is primarily a mobile-first online store offering a wide range of products, right from baby products to electronic devices.
With a massive 30-million visits a month, Shopee has been growing at a rapid pace and has expanded to other markets like Singapore, Vietnam, Malaysia, Indonesia, and the Philippines.
When it comes to technology and related products in the Thailand e-commerce marketplace, the frontrunner is JIB.
With a website dedicated to technology and a full range of the latest gadgets, JIB has, like most Thai e-commerce players, evolved from a chain of stores to establish itself firmly in the e-commerce space.
Fashioned along the lines of eBay’s bidding system, Chilindo allows users to place bids for various items they desire. By way of auctions, individuals can bid for a variety of objects ranging from fashion to electronics to sports, and even health and beauty.
Chilindo holds an edge and gains its popularity from the fact that users decide the right price and feel a sense of satisfaction at the end of the day. Its popularity can be gauged from the fact that the website has monthly traffic of over 1.75 million.
It is very evident that tech-based brands enjoy a lion’s share in the Thailand e-commerce marketplace. With close to 350 retail stores across Thailand and Laos, Advice had established itself as one of the leading wholesale distributors of Smartphones and IT-related goods.
With the internet boom, Advice then made their presence felt in the e-commerce space and have been reaping the benefits ever since. Apart from garnering revenue at its outlets, Advice has monthly traffic of 1.6 million on its e-commerce platform.
6. Power Buy
A classic example of how the Thailand e-commerce marketplace has aided brick-and-mortar franchises is the evolution of Power Buy.
With over 90 stores across the Thai peninsula, Power Buy has become the country’s premier online retailer of electrical appliancees, IT gadgets, and mobile phones. Power Buy witnesses an average of 1.5 million visits on a monthly basis.
Wellness and vanity have become a major trend in Southeast Asia for the better part of the 21st century. With that came the advent of plenty of players catering to the same in the Thailand e-commerce marketplace.
Central is one such player that went from being a chain of brick-and-mortar department stores to launching its own website catering to beauty, fashion, and home decoration verticals.
8. JD Central
JD Central, a Thai-Chinese collaboration, is an e-commerce website that has a wide range of products in the genres of electronics, fashion, health, and family.
Thai retail giants Central Group tied up with Chinese e-commerce platform JD.com to bring JD Central to life.
Kindle has captured the e-commerce marketplace thoroughly when it comes to books and other literature. While the brand provides digitised e-books for the reading audience, Se-ed offers a slightly different service, acting as an online book store.
Over time, it has become the leader in the Thailand e-commerce marketplace for the sale of books, magazines, and related novelties in different categories.
Furniture retail on the internet saw a boom five years ago growing from a $26.7 billion market in 2015 to a whopping $258 billion market at the end of 2018.
One of the oldest such players in the Thai e-commerce marketplace is HomePro. Having begun in 1995, the brand adapted well with changing times, transforming itself from a website to a competitive e-commerce platform. HomePro caters to all the essential home needs of the average citizen from furniture to equipment to tools et cetera.
It is interesting to note that there isn’t much to choose from the next three players with each averaging 1.2 million user visits per month.
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