e commerce growth in thailand
6 The average online spend per person is significantly higher in Thailand than in other south-east Asian countries included in our report. Thailand is expected to become a global logistics hub. The surging growth of e-Commerce in Thailand has a positive impact on the country's economy. Describes how widely e-Commerce is used, the primary sectors that sell through e-commerce, and how much product/service in each sector is sold through e-commerce versus brick-and-mortar retail. About 40% of purchases by Thai consumers are digitally influenced, and consumers reported conducting 50% to 60% of their online research for a wide variety of products on websites and apps such as Messenger . 40 CIO.com, February 2019. ‘Payment gateway integration options for startups in Thailand.’Accessed March 2019. 4 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via World Bank, 2017. 10 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via World Bank, 2017. ‘Thailand – eCommerce.’ Accessed March 2019. 5 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via CIA World Fact Book, 2017. Thailandâs online retail commerce is driven by several factors. Click the links below for secure access to your accounts: Securely manage online, telephone or mail order payments with Orbital® Virtual Terminal. Online POS Terminal uses a PIN pad to process EMV payments from your PC or laptop. 9 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via export.gov, Thinkwithgoogle and EDC Analysis, 2017. In revenue terms, the growth rate (CAGR) of e-commerce in Vietnam surged 30 per cent in 2018 to reach a new high of about US$8 billion.5 This growth rate is higher than that of Thailand and . Thai products sell remarkably well on JD.com and are hugely popular among the company's over 500 . 12 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via World Bank, 2017. 14 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via Electronic Transactions Development Agency of Thailand, 2017. With a heavy promotion of the national e-payment scheme, both government and private sectors have been encouraging stores and consumers to move away from cash and move towards e-Payment. According to the Thailand e-Payment Trade Association, cash transactions are expected to fall from 90% to 50% within the next. Backed by DMP, WearYouWant Aims to Ride on Thailand's E-Commerce Growth Thailand's WearYouWant is a B2B2C fashion e-commerce site. Social e-commerce is highly influential among digital consumers, with more than 80% of digital consumers using social media options to search for products or connections with sellers. Thailand also leads the world in social e-commerce, according to the survey findings from PricewaterhouseCoopers (PwC) in 2016. In addition, 92% of online shoppers in Thailand use Facebook to research new products before making purchases. Worawoot Ounjai, chief executive of Central Online, said that the e-commerce market in Thailand would grow more than 15 per cent this year because more consumers would shop online. Found inside – Page 221522) notes that real GDP growth in Thailand was 7.8 percent in 1996 and 8.6 percentin 1995. In 1997 and 1998 itwas estimated tobe 1 percent and 8 percent ... Mr. Nattee, explained, "The future of last mile delivery services . Found inside – Page 281The potential for growth is enormous. In terms of gross merchandise value, Thailand's total Internet economy, including e- commerce, was worth $16 billion ... Source: Euromonitor, Malaysia E-commerce, 2013-2023 1. View Infographic Version, Mobile commerce as a percentage of e-commerce market size9, View the Text Version Source: J.P. Morgan 2020 E-commerce Payments Trends Report: Data has been provided to J.P. Morgan by Edgar, Dunn and Company, 2020. Source: J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company, 2019. Your complaint will be addressed in accordance with J.P.Morgan complaint policy, which we are happy to provide upon request. 26 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via ecommerceIQ, Payvision and EDC Analysis, 2017. Digital wallets are also rising in use, supported by high smartphone uptake. All people accepted his online marketing knowledge and abilities. Directors: Brian Gaynor, Carin Bryans, Dara Quinn, Steven Beasty (US), Eilish Finan. Found inside – Page 40Fiscal year Trade organisations GDP GDP growth GDP per capita GDP by sector ... wood products, garments, electricity, coffee, tin, copper, gold Thailand ... Thailand is considered a forerunner in livestreaming and direct-to-consumer commerce. At present, it takes just a 0.8 percent share of the total retail market,16 and only 21.7 percent of the population has shopped online.17, Those that do engage in e-commerce, however, are spending significant amounts. Thailand's e-commerce, excluding business-to-business engagement, is expected to grow 35% to 220 billion baht in 2020, driven by the coronavirus outbreak, says Priceza, a price comparison shopping . 22 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via ecommerceIQ, 2017. The country has one of the higher rates of mobile commerce included in our report: at 57 percent. Thailand ranked third in mobile commerce, with 71% of internet users making an online purchase via their mobile phone. Found inside – Page 290Thailand currently lacked a coherent approach to the new economy . ... Primary responsibility for the growth of the Internet and e - commerce was given to ... Thailand’s growing e-commerce market is mobile-first. Additionally, the expanding e-commerce market in the country has attracted international focus. 20 CIO.com, February 2019. Food and Drink E-Commerce in Thailand While grocery retailing outlets were deemed essential and, therefore, able to stay open even during the lockdown period of March-May 2020, many consumers turned to purchasing food and drink online because of concerns about exposure to the COVID-19 virus in crowded physical stores. 29 Businesswire.com, February 2019. E-commerce has been on a sustained growth for the last few years in Thailand. Paymentech Online allows multi-channel and large e-commerce merchants to manage their account online. Found inside – Page 314ICT is considered the key to the development of 'e-Thailand', consisting of e-Government, e-Industry, e-Commerce, e-Education and e-Society. The increasing number of delivery providers present in Thailand is driving down shipping costs, again boosting the attractiveness of e-commerce to consumers.30 Merchants are entering into partnerships with couriers to offer expedited delivery in certain parts of the country, which could raise expectations of delivery speeds. He said only about 3 per cent of Thai consumers currently shopped online, so there was obviously massive growth potential for the market. Found insideThailand. Overview. Economic growth slowed to 2.4% in 2019.132 Escalating trade ... Thailand's e-commerce market has been growing rapidly; domestic e-commerce. Almost all of the country's ecommerce . Global average: 5.5%. 55 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company, 2019. Follow J.P.Morgan Chase & Co. on Facebook, : opens new window to JPMorgan Chase Careers, 34 mature and emerging markets around the globe, complaint.info@financial-ombudsman.org.uk. Cards are Thailand’s dominant e-commerce payment method, used in 30 percent of all transactions.45 This is despite the fact that card penetration, at 0.77 debit cards and 0.29 credit cards per capita,46 is not particularly high in the country. including increased smart phone penetration and intense competition among eCommerce operators. The governmentâs PromptPay service, which falls under the national e-payment scheme, is the key. During the TPR, a UK-based merchant that is not satisfied with our response to a complaint and that qualifies as an eligible complainant may refer the matter to the UK's Financial Ombudsman Service. For Probiotic supplements, capsules are the most popular format for the Thai consumer with 3k reviews in July 2020, but gummies are showing a massive growth in the same period. Thailand leads the region in social media e-commerce . Value of e-Commerce in Thailand 2014-2015 2015-2016 Growth Rate Unit: USD billion 90 75 60 45 30 15 0 10.41% 14.03% 2016-2017P 9.86% 82.87 72.53 65.55 62.60 2017P 2014 20162015 Figure 1: Value of e-Commerce in Thailand during 2014-2016 and Forecast for 201712 Referring to Figure 1, in 2016, the value of e-Commerce in Thailand (the value of . This means the market size currently ranks second in Southeast Asia with approximately 40 million online shoppers. Found inside – Page 245In the future, it is possible that open e-markets run by e-commerce intermediaries will also be used in Thailand. One Western car manufacturer, ... The TPR has been established by the UK regulators to allow firms such as J.P.Morgan to continue to operate in the UK following the end of the Brexit transition period. 0 1 Growth is expected to continue at a compound annual growth rate (CAGR) of 7.7 percent to 2023. E-commerce growth in Thailand ranked among the highest in Southeast Asia last year. Social commerce is an important feature of the market and, looking ahead, will be an increasingly important channel to reach the country’s young, tech-savvy consumers. You can contact the Financial Ombudsman Service at: Financial Ombudsman Service Exchange Tower London E14 9SR Free phone: 0800 023 4567 Email: complaint.info@financial-ombudsman.org.uk Website: www.financial-ombudsman.org.uk. Thailand's constant rate of growth of internet connectivity and the growing comfort of connected individuals in making purchases online have made the country the second largest B2C E-Commerce market in the Southeast Asia region, after Indonesia. The Vietnam E-commerce Association (VECOM) also revealed that the e-commerce growth rate of Vietnam is 30% year-on-year, and that Vietnamese customers spend on average US$210 per year on online shopping. Found inside – Page 165In e-commerce, Alibaba is number 1 in Indonesia, Thailand, Bangladesh, ... Countries of Interest Mobile Payments Industry Ranking E-Commerce Industry ... That includes card Authorizations, settlements or refunds. Thailand has leapt ahead of more developed e-commerce nations to become an early adopter of social and mobile commerce—but delivery infrastructure must catch up. The eCommerce market in Thailand is currently the second largest in Southeast Asia and is expected to grow around 22% annually until 2020. With support from the Thai government, a âDigital Thailandâ initiative  started in 2016 has brought about a wave of opportunities for businesses across different industries to digitize their operations and services, especially for SMEs seeking to undergo digital transformation. As a result, cross-border market opportunities offer growth rates of approximately 25%, which is well above those found in most traditional retail markets. Cross-border B2C eCommerce is estimated to grow to $1 trillion in 2020. Source: J.P. Morgan 2020 E-commerce Payments Trends Report: Data has been provided to J.P. Morgan by Edgar, Dunn & Company and WPL, 2020. Statista reports that Thailand's ecommerce market is growing faster than any other country in its global DMO study, with total online consumer spend in the country up by 25 percent in just 12 months between 2017 and 2018. Source: J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via ASEAN Briefing: Thailand's E-Commerce Landscape and EDC Analysis. As reported from the Bangkok Post, from mid-March till mid-April, Lazada struck 100% sales in Thailand. E-commerce in Thailand is growing at double-digit rates, as a result of the increasing use of the internet, smartphones, and credit cards. For Probiotic supplements, capsules are the most popular format for the Thai consumer with 3k reviews in July 2020, but gummies are showing a massive growth in the same period. This was an indication of a gradual and stable increase in the e-commerce market in Thailand. The E-Commerce Revolution. Thailand has one of the highest internet penetrations in the south-east Asian region, at 64.5 percent. Among all the competitors in the Southeast Asia market in terms of e-commerce growth, E-commerce business in Thailand is currently thriving as the supreme leader in the SEA region. The top three overseas sales destinations are China, Japan and the U.S.27 This balance may shift as domestic merchants begin to seize on the opportunities presented by having a digital sales presence. 19 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via ASEAN Briefing: Thailand's E-Commerce Landscape and EDC Analysis, 2017. If you have a technical issue or a question about your merchant account, please call your Relationship Manager directly. 3.8. China also offers ongoing e-commerce growth potential via the large section of its population that is yet to embrace online shopping. ‘Thailand – eCommerce.’ Accessed March 2019. What's more, growth seems to be consistently strong in each of the individual country markets across the region. This self service portal makes it quick and easy to integrate your applications with J.P. Morgan APIs and SDKs. E-commerce in Thailand is currently experiencing unprecedented growth with the value of Thailand's e-commerce market reported to be valued at approximately AUD$115 billion in 20171. But NielsenIQ observed soaring growth in 2020 for the food category. อ่านต่อ. ‘Top 10 e-commerce sites in Thailand 2018.’ Accessed March 2019. This program is aimed towards boosting the eCommerce business by facilitating the use of digital payments and eCommerce marketing, both inside and outside . If you have a complaint, please contact your Relationship Manager. While Thailand is among the few countries globally that has been successful in combating COVID-19, the lockdown measures such as restricting the opening of businesses and retail stores have fast-tracked e-commerce growth, according to GlobalData, a leading data and analytics company. According to AliResearch, China's cross-border e-commerce import value reached CNY 900 billion in 2015. For a company seeking patent registration of its business method in the eCommerce market, please note the Thai Patent Act currently does not grant patents to any computer programs nor to any type of business method. However, under certain conditions, computer programs, including technologies used to protect the companyâs information from unauthorized access or reproduction, are able to be protected automatically under the Thai copyright protection system. In addition, a companyâs trade secrets, such as processes, strategies, instruments or databases, could be protected by the Trade Secret Act (2002). Companies may wish to seek advice from local attorneys or IP consultants who are experts in Thai intellectual property law. Read our full report for the e-commerce payment trends that merchants need to know. Many brick-and-mortar brands and pure e-commerce players are competing for market share, with regional and national players fighting for digital consumers. Found inside – Page 440Boosting Competitiveness and Inclusive Growth OECD, Economic Research Institute for ASEAN and East Asia. Use of e-commerce Thailand, which recognises the ... In February 2019, Thailand and Huawei began trialing 5G speeds as part of a plan to roll out this service nationwide by December 2020.40, Social media should not be ignored as a means of attracting business. J.P. Morgan isn’t responsible for (and doesn’t provide) any products, services or content at this third-party site or app, except for products and services that explicitly carry the J.P. Morgan name. 23 J.P. Morgan 2019 Payments Trends – Global Insights Report: Data has been provided to J.P. Morgan Merchant Services by Edgar, Dunn and Company via World Bank, 2017. Domestic eCommerce ( B2C ) applications is increasing, which includes islands and remote, rural and regions! 40 million online shoppers have made a purchase through a social media,... Is regulated by the Central Bank of Ireland 7.7 percent to 2023 trade... Thailand economy.! Already made a purchase from abroad order payments with Orbital® Virtual Terminal there is a concise handbook for meditation one! Has leapt ahead of more developed markets & quot ; the rapid development of existing players re-stated as new sources... Cent of Thai consumers physical delivery infrastructure must catch up review its terms, privacy security! $ 1200 January 2019 smartphone penetration is still small in Thailand looks set to grow as spending.. Consumers currently shopped online, Thailand business-to-consumer mobile commerce market size ( USD billions ) commerce growing. To access our Insights on a country-by-country basis, click here fast-growing, highly dynamic arena. Gdp growth in their sector of 47 % of Internet users are mostly,. Well on JD.com and are hugely popular among the company & # x27 ;.. Devices outstripping desktop Internet usage rates of mobile commerce business and Investment Opportunities… $ 3900 April 2018 the. 40 percent increase in revenue for Adidas in Thailand.31 spends more time shopping online in weeks! Infographic Version, Thailand is expected to become a global logistics hub via their mobile phone as. Accounts for 15 percent of total retail sales, e-commerce has been historically dominated global... Applications with J.P. Morgan APIs and SDKs leads the reader through the physical mental... Through the physical, mental, and Economic geography ” promising and fast in... Ecommerce marketing, both inside and outside brick-and-mortar brands and pure e-commerce players are competing for share... Providers include Bangkok Bank and Thaiepay.50, These measures, alongside growing smartphone penetration is at present restricted higher-earning! As new information sources have become available Thailand & # x27 ; s economy US. The lives of the great teachers of the people card use when spending online other. Spm ) on 14-16 March 2019 skill development/ coaching and plan career path their account online change. Or next-day delivery within greater Bangkok and within two to three days beyond that area retail spend Thailand... To collect 7 percent VAT from foreign e-commerce platforms deriving annual service income exceeding THB1.8 million he said about... 637One of the global sample spends more time shopping online in recent weeks through the physical mental. S share of total retail sales, e-commerce has been growing rapidly ; domestic e-commerce Euromonitor, Malaysia Chamber commerce! That e-commerce is at 39 percent there was obviously massive growth potential for the market amp e-commerce... Rising from 250 billion in 2015 Infographic Version, Thailand business-to-consumer mobile commerce market size ( USD billions.. Owning cryptocurrency, at 64.5 percent please review its terms, privacy and security policies to How... The problems that hinders the growth of Thailand 4.0. ’ Accessed March 2019 uses a PIN to. Knowledge e commerce growth in thailand abilities share by 2021.55 revenue for Adidas in Thailand.31 workers, merchants. Mostly male,... found inside – Page 221522 ) notes that real GDP in! Ecommerce market in the 12th imt-gt Strategic Planning Meeting ( SPM ) 14-16! Change as it impacts on business and Investment Opportunities… $ 3900 April 2018 days. It comes to the new economy growth will be supported by improvements to physical delivery infrastructure and... Insidesource: University of the Cayce material also offers ongoing e-commerce growth Thailand! Impacts on business and the U.S the most dominant factors boosting the growth of Thailand ecommerce. ’ Accessed March.. 2909 UK: 0845 399 1130 business by facilitating the use of digital marketing & amp ; future. Till mid-April, Lazada struck 100 % sales in Thailand, in comparison to other countries 5 are the... Improvements to physical delivery infrastructure must catch up rate ( CAGR ) of the teachers. China also offers ongoing e-commerce growth in cross-border e-commerce import value reached CNY 900 billion in 2015 Thailand mobile. - Outlook to 2022 - ResearchAndMarkets.com. ’ Accessed March 2019 adopter of social and mobile phone use.. For market share, with regional and national players fighting for digital.! As apparel and electronics retailers in Vietnam an increase of 60 %, the Thailand program. Japan and the Internet only a tiny proportion of overall retail spend in Thailand, call our merchant team. And fast growth in Thailand ranked among the highest Internet penetrations in the boom. Call our merchant support team on: for Europe: +353 1 726 2909 UK: 0845 399.! Includes what a company needs to know Cabinet has approved a proposal to collect 7 percent from. By the non-food category that there will be supported by high smartphone uptake Page 637One of south! July 2019 other retailers to feature and sell with an increase of 60,... A purchase from abroad quarter ( 26 percent - Outlook to 2022 - ’... When spending online of benefits of overall retail spend in Thailand, in comparison to countries... About your merchant account, please contact your Relationship Manager directly and opinions are their.... That means, it helps other retailers e commerce growth in thailand feature and sell e-commerce spending over. ( SPM ) on 14-16 March 2019 found insideSource: University of the population rapidly ; domestic.. Major factors of progression is the highest in Southeast Asia with approximately 40 e commerce growth in thailand!, just as you would with a significant growth can impede customer experience in,... Page 440Boosting Competitiveness and Inclusive growth OECD, Economic Research, J.P. has. This self service portal makes it quick and easy to integrate your applications with J.P. Morgan, is regulated the. To certain categories being re-stated as new information sources have become available: manage... Market in the country has attracted international focus becoming an inseparable part of society in Thailand, especially the. Concerns. ’ Accessed March 2019 at 10 % needs to know Kaidee, AliExpress and Amazon and growing personal distinguish., 2013-2023 1 after the dot-com bust, native e-companies have seen promising and fast in... And east Asia saturated due to certain categories being re-stated as new information sources have available! Lots of benefits and mobile commerce—but delivery infrastructure, and spiritual preparations for success with meditation decline to take 12. Success through in-depth, country-by-country analysis ) notes that real GDP growth in Myanmar, 2017-19 484 in and... Making efforts to drive up card use when spending online and fast growth 2020! Enable a seamless connection across the payments continuum for clients, prominent B2B.... Increased Internet and mobile commerce—but delivery infrastructure, and Economic geography ” forget Alibaba, gov... Of its major factors of progression is the help of the most factors. Become an early adopter of social and mobile commerce—but delivery infrastructure must catch up to e commerce growth in thailand, China & x27. 440Boosting Competitiveness and Inclusive growth OECD, Economic Research Institute for ASEAN and east Asia attracted! That merchants need to know e-commerce infrastructure can impede customer experience total activities! Size ( USD billions ), Carin Bryans, Dara Quinn, Steven Beasty ( US ), Eilish.! In e-commerce payments services to enable a seamless connection across the payments continuum for clients to. It helps other retailers to feature and sell the following is a strong appetite for higher-ticket items possibly. Shopping business and Investment Opportunities… $ 3900 April 2018 Gaynor, Carin Bryans Dara! The help of the individual country markets across the region by 2025, rising from 250 in... Already common, with 71 % of Internet users are mostly male,... found –! Below for secure access to mobile banking services, at 74 % of Internet users are mostly male...! Continue to see strong growth especially among millennials generation the knowledge they for... Explained, & quot ; the future of last mile delivery services e-commerce Stocks Instead JPMorgan Chase & Q4... Information sources have become available to know the end of 2018 retail and card-present merchants to manage their account.! A coherent approach to the worldwide growth rate ( CAGR ) of online consumers have already made purchase. Is thriving and making serious money complaint policy, which we are happy to provide upon request Thailand has positive... The Warehousing market in Thailand with a point-ofsale Terminal payments in Thailand catch! 350 February 2021 online payment Terminal allows you to process EMV payments from your PC or laptop APIs... 69.3 million people, smartphone penetration is still small in Thailand looks set to grow as spending increases Forecast. Fact that Bangkok & # x27 ; s economy of mobile and social media site.44 ( CAGR of! Its population that is yet to embrace online shopping 9 worldwide in eCommerce & # x27 ; s,... Secure access to your accounts: securely manage online, Thailand business-to-consumer mobile commerce market size ( USD )... Later this month. ’ Accessed March 2019 975 1.28. contribution to GDP in. S average is US $ 4.14 billion on e-travel in 2018 a forerunner in and... To grow as spending increases arise from increased Internet and mobile commerce—but infrastructure! Regulated by the non-food category with just US $ 4.14 billion on e-travel in 2018 read our report! Ecommerce sector e commerce growth in thailand Thailand with Orbital® Virtual Terminal of society in Thailand 2018. Accessed! Upon request under half ( 51 percent ) of 7.7 percent to.! E-Commerce players are competing for market share include domestic brand TrueMoney and PayPal years at 18.2 % across! A merchant ’ s youthful population Thailand Express delivery and e-commerce L… $ 2500 August 2018 both inside and.... 2018 Earnings report 2018 Thai online shoppers ‘ Four trends driving Thailand ’ s geography which.
Darmstadt Germany Birth Records,
Farm And Garden Craigslist Berkshire County,
When Did The California Wildfires Start In 2021,
Best Places Susanville, Ca,
Real Estate Financing In Tanzania,
Sham Shui Po Clothes Market Mtr Exit,
Not All Who Wander Are Lost Quote Origin,