Friday, February 28, 2020

Thailand Business News – Retail in the age of social media – Ecommerce, Facebook, Real Estate, Social Media, Tech

Thailand’s nascent e-commerce industry is thriving and making serious money. According to the Ministry of Digital Economy and Society, Thai e-Commerce grew the most in ASEAN, the value of Thai ecommerce grew 14% in 2018, estimating that the value would increase to USD 103 billion, and its growth is expected to hit 20% this year.

The region is flourishing

According to the report Asia-Pacific B2C E-Commerce Market, over one half of total global online retail sales happens in the Asia-Pacific region. Over 50% of all the online shopping for retail goods and services takes place in the Asia Pacific region, and South-East Asia accounts for about 40% of the e-commerce market of the region.

Southeast Asia is definitely a new big e-commerce hit, and the region is currently a very attractive market for big players involved globally in the e-commerce sector and smaller local companies.

At a reflection point of Internet penetration and mobile devices rapid sp were only 16.1 million Internet users in 2008 and the number reached approximately 45 million in 2018; moreover, at present there are 124.8 million mobile subscribers, 44 million people using LINE messenger and 52 million Facebook users.

Internet-savvy young people here definitely play a key role in driving mobile commerce. Thailand is a regional leader in mobile commerce, as 52% of online transactions take place via mobile devices (only South Korea is higher with 58%). According to the Thailand Marketing Research Society, 71% of smartphone users in Thailand shop online an average of twice a month, while 90% intend to shop online in the future. 

On top of that, a growing middle class with…

Retail in the age of social media – Ecommerce, Facebook, Real Estate, Social Media, Tech

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