Thailand's e-commerce expected to reach 700 billion baht in 2024

The growth of Thailand's e-commerce sector is being driven by increased internet usage and online purchases, with many companies registering in the sector.

• Thailand's e-commerce sector is expected to reach 700 billion baht this year due to a significant increase in business registrations and consumer adoption of technology in retail purchases.
• The growth of e-commerce has led to a surge in demand for warehouse space and sustainable packaging solutions, as well as expansion of domestic supply chains and logistics operations.
• The market value of e-commerce is expected to continue to rise over the next few years, with companies focusing on last-mile delivery services, digital advertising, and analyzing consumer behavior through social media data analysis.

According to a report by DataReportal, as of January 2024, there were 63.2 million internet users in Thailand, with a penetration rate of 88%.

Thais are spending more time online, on average 7 hours and 58 minutes per day. Social media is the most popular digital activity, followed by communication and online purchases.

The most used social media platforms in Thailand are Facebook, Line, and TikTok. A 2023 survey found that 66.9% of Thai internet users make weekly online purchases.

The number of registered e-commerce businesses has increased significantly over the past six years, as have the number of establishments and the amount of registered capital. In 2018, there were 310 establishments with a registered capital of 545 million baht.

As a result, demand for warehouse space and logistics services to facilitate expedited shipping is increasing. The rise of e-commerce has also increased the focus on sustainable packaging solutions.

The Director of Business Development expects the market value of e-commerce to grow further in the coming years and reach 750 billion baht in 2025.