Thailand eCommerce sales estimates (February 2024)

Thailand Market

In the wave of cross-border e-commerce sweeping Southeast Asia, Thailand is considered one of the most promising markets in this region, mainly due to its sizable young consumer base and growing middle class population. According to the “Thailand – Country Commercial Guide” released by the U.S. Department of Commerce International Trade Administration in January 2024, Thailand has approximately 43.5 million e-commerce users, with 17-36 year-olds being the main force, accounting for 62% of Thailand’s e-commerce market. The influx of more young users has played a significant role in driving e-commerce sales in Thailand. In addition, affluent Thai online shoppers have strong brand awareness, and as this group continues to grow, it is bound to inject new vitality and business opportunities into the Thai e-commerce market.

The cross-border e-commerce market in Thailand is vibrant. According to the “Thailand – Country Commercial Guide,” cross-border e-commerce accounts for 30% of the entire Thai e-commerce market, and nearly half of online shoppers have experience shopping on cross-border e-commerce platforms. In February 2024, the total sales revenue of the two main platforms Shopee and Lazada in Thailand reached approximately 762 million.

Highlight

Platform Performance: Shopee’s sales are higher than Lazada’s. In February 2024, Shopee’s sales in the Thai market were 650 million, ranking fourth among the six Southeast Asian countries. Lazada’s sales revenue reached 110 million, also ranking fourth among the six countries. Keep an eye on TMO as we continue to observe the trends in the entire Thai e-commerce market this year.

In terms of categories, on the Shopee platform, electronic products and accessories occupy the top spot with a market share of 31.5%, followed by clothing and fashion, and health and beauty, with market shares of 15.4% and 14.3% respectively. On the Lazada platform, the most popular category among consumers is home and living, accounting for 19.1% of sales, followed by health and beauty (14.9%) and women’s fashion and accessories (11.0%).

With regards to best-selling products:

• In the electronic products and accessories category on the Shopee platform, smartphones are still the most popular electronic products. Thai consumers have a high brand preference, with Apple smartphones occupying three out of the top five spots in the sales rankings. It is worth noting that the sales revenue of home appliances accounted for around 40% market share, which was almost the same as that of electronic products and accessories. Chinese brands TCL and Hisense have entered the top five in the sales rankings. In the health and beauty category, weight management products are the best-selling products.
• In the health and beauty products category on the Lazada platform, perfumes have gained great popularity.

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What is in this datapack

In the data pack, we provide our estimates of the Shopee and Lazada sales for February 2024 (separate file for each platform) for the Thailand market, broken down by product categories.

We provide numbers such as total SKUs with sales, number of sales, revenue (both in local currency and USD), and distribution of sales by the price range of items. Where relevant, we show internal categories of product groups.

We list the top 5 products (by revenue) in each category, their price, sales volume, name, and picture.

Notification of Update

Starting February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada’s marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers’ understanding of the top products, we will also translate the parts containing local languages into English.

The country plan for 2024 is as follows: Indonesia (January), Thailand (February), Malaysia (March), Vietnam (April), Indonesia (May), Singapore (June), The Philippines (July), Vietnam (August), Thailand (September), The Philippines(October), Singapore (November), and Malaysia (December).

At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers’ needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!

If you are looking to dive deeper into Southeast Asia’s eCommerce market, look no further than our expert team! With our thorough research and analysis, you’ll gain a deep understanding of your niche, including market structure, size, and emerging trends. We’ll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.

Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia’s eCommerce market!