{"id":32461,"date":"2023-02-21T11:13:27","date_gmt":"2023-02-21T04:13:27","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=32461"},"modified":"2023-02-24T11:23:10","modified_gmt":"2023-02-24T04:23:10","slug":"retail-sector-in-thailand-goes-digital","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/retail-sector-in-thailand-goes-digital\/","title":{"rendered":"Retail sector in Thailand goes digital"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">E-commerce sites have caught the attention of the market<\/span><\/p>\n<figure id=\"attachment_32462\" aria-describedby=\"caption-attachment-32462\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-32462 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_1900373398.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_1900373398.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_1900373398-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_1900373398-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_1900373398-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-32462\" class=\"wp-caption-text\">Online retail sites make up around 4.6 percent of total retail in the region. DavidGyung\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The pandemic caused multiple shifts within the economic sectors of Thailand, one of it within retail. The local e-commerce, as reported by textile marketplace <\/span><a href=\"https:\/\/www.fibre2fashion.com\/news\/e-commerce-industry\/thailand-s-e-commerce-sector-to-grow-13-in-2023-report-285794-newsdetails.htm?amp=true\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Fibre2Fashion<\/span><\/a><span style=\"font-weight: 400;\">, grew by 13 percent in the beginning of the year and is predicted to grow even more. Analyst predict the market to reach THB916.3 billion (USD26.5 billion) by the end of 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This could be accredited to the increased levels of mobile phone penetration, mobile banking, and social media use within the kingdom, as well as the shift of multiple businesses and customers into e-commerce. The country has become a good starting point for e-commerce to grow, especially due to its better than average performance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the region, <\/span><a href=\"https:\/\/www.webretailer.com\/marketplaces-worldwide\/online-marketplaces-southeast-asia\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Webretailer<\/span><\/a><span style=\"font-weight: 400;\">, an online marketplace resource, revealed that major e-commerce companies, such as Shopee, Lazada, and Tokopedia, all selling a wide variety of products for anyone to purchase from anywhere within the region, have propelled this growth. These online retail sites make up around 4.6 percent of total retail in the region with a lot of potential to grow.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/battle-of-the-bases-as-thailand-and-indonesia-calls-on-digital-nomads\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Battle of the bases as Thailand and Indonesia calls on digital nomads<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">In particular, Shopee and Lazada aided the country\u2019s retail sector in growth. Shopee, as the largest online marketplace in Southeast Asia, enabled the widespread selling of Thai products and purchase of foreign products. Lazada does the same with its 128 million monthly visits, even going as far as getting celebrities to help boost its use by promoting the site.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The booming tourism industry also contributed to the growth of Thailand\u2019s retail sector. <\/span><a href=\"https:\/\/en.vietnamplus.vn\/thailands-retail-growth-projected-to-hit-68-in-2023\/248273.amp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Vietnam Plus<\/span><\/a><span style=\"font-weight: 400;\"> discussed the possible six to eight percent increase of retail\u2019s growth in 2023, doubling the country\u2019s GDP rate. Retail can be seen improving in Phuket, Samui, and Pattaya especially as popular tourist destinations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To further push this growth, the government has been urging to promote Phuket as a tax-free area to bring in more tourists to visit and spend more, hoping to help boost both retail and tourism.<\/span><\/p>\n<p><em>The Property Report editors wrote this article. For more information, email:\u00a0<a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noreferrer noopener\">propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-commerce sites have caught the attention of the market<\/p>\n","protected":false},"author":12,"featured_media":32462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2990,248,851,133],"class_list":["post-32461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-e-commerce","tag-retail","tag-retail-sector","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Retail sector 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