Thailand. eCommerce sales estimates (September 2023)

Thailand eCommerce market

Thailand is the second largest economy in Southeast Asia, and its GDP growth rate in 2022 was 2.7%. Data released by Data Reportal shows that as of early January 2023, Thailand’s internet penetration rate was up to 85.3%. According to Statista’s forecast, Thailand’s e-commerce sales will reach US$24.2 billion in 2023.

Market Highlights:

In September 2023, the combined sales of Shopee and Lazada in Thailand reached US$1.06 billion. Thai consumers have strong purchasing power and are highly receptive to electronic products and home appliances from well-known international brands. Thanks to Thai consumers’ love for gold and trust in e-commerce channels, a variety of gold jewelry has entered the best-selling product list. 

• Shopee’s sales in Thailand are significantly higher than Lazada’s. In September 2023, Shopee’s sales in the Thai market were US$628 million, while Lazada’s sales were US$424 million.
• In categories such as electronics and accessories, TVs and home appliances, hobbies and toys, Thai consumers are willing to accept high-quality products from famous international brands such as Apple, Dyson, LG, Samsung, and Sony. However, when it comes to beauty supplements, Thai consumers tend to place their trust in local brands. Notably, within the “Apparel and Fashion” and “Women’s Fashion and Accessories” categories on Shopee and Lazada, gold jewelry and luxury bags with premium price points are exceptionally popular, setting Thailand apart from other Southeast Asian countries.

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What is in this datapack

In the datapack we provide our estimates of the Shopee and Lazada sales in February 2023 (separate file for each platform) for Thailand market, broken down by product categories.

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

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

Notification of Update

Starting from 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 2023 is as follows: Thailand for February issue, Malaysia for March issue, Vietnam for April issue, Indonesia for May issue, Singapore for June issue, the Philippines for July issue, Vietnam for August issue, Thailand for September issue, Malaysia for October issue, Singapore for November issue, and the Philippines for December issue.

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!