Thailand

Thailand

General Information

  • Population 69.8m
  • Population 15 + 58.3m
  • Online Population 48.5m
  • Area 513,120 km2
  • Currency THB
  • GDP 501.9bn USD
  • GDP per Capita 7,190 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"17"},{"label":"Cash-based payments","value":"22"},{"label":"Bank transfer","value":"31"},{"label":"Wallets","value":"19"},{"label":"Other","value":"11"}]
Banked population
  • Thailand 82%
  • Asia Pacific 71%
  • World 67%
Credit card penetration
  • Thailand 10%
  • Asia Pacific 13%
  • World 19%
Internet penetration
  • Thailand 70%
  • Asia Pacific 60%
  • World 62%
Smartphone penetration
  • Thailand 54%
  • Asia Pacific 71%
  • World 70%

The number of Thai households that switched to online shopping rose by 58% in 2020, with a massive rise in the food category of 74% compared to 60% for the non-food segment.

On 1st September 2021 non-resident companies providing digital services in Thailand will be expected to register to pay 7% VAT if their annual income exceeds 60,000 $US.

Thailand’s economy dropped by 6.1% in 2020 but is forecast to grow by 2.6% in 2021 and 5.6% in 2022 according to the IMF. Inflation also dipped in 2020 by 0.8% but is expected to rise by 1.3% in 2021 and 1% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 76.0
2022 91.4
2023 107.8
2024 124.6
2025 139.4
E-Commerce spending per capita ($US)
2021 1074
2022 1287
2023 1513
2024 1746
2025 1949
E-Commerce spending as % of GDP
2021 14.0
2022 16.1
2023 18.1
2024 20.1
2025 21.6

Thailand

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 57% | 30%
  2. Electrical Goods: 11% | 10%
  3. Health & Beauty: 10% | 10%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 13%
  2. Value of cross-border e-commerce ($US billion) – 8.1
  3. % of online shoppers who have shopped cross-border – 30%

Top 3 cross-border shopping origin markets

  1. China: 52%
  2. Japan: 14%
  3. USA: 7%
E-commerce % of total retail
  • Thailand 13%
  • Asia Pacific 23.8%
  • World 20%
E-commerce completed on a mobile device
  • Thailand 60%
  • Asia Pacific 59%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • American Express
  • Local Schemes
  • other
[{"label":"Visa","value":"68"},{"label":"Mastercard","value":"20"},{"label":"American Express","value":"1"},{"label":"Local Schemes","value":"10"},{"label":"other","value":"1"}]
  • E-commerce market size ($US billion) 62.0bn USD
  • E-Commerce spending per capita ($US) 879 USD
  • E-commerce spending as % of GDP 11.9%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Thailand

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 GoPay (by Gojek) Type Wallet Regions Asia Pacific GrabPay Type Wallet Regions Asia Pacific Market relevance High Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High 123 Type Bank transfer, Cash Regions Asia Pacific Market relevance High AirPay Type Wallet Regions Asia Pacific Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Bangkok Bank PromptPay Type Bank transfer Regions Asia Pacific Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Rabbit LINE Pay Type Wallet Regions Asia Pacific Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Tesco Lotus Type Cash Regions Asia Pacific Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High 7-Eleven Type Cash Regions Asia Pacific, Middle East & Africa, North America Market relevance Medium CenPay Type Cash Regions Asia Pacific Market relevance Medium Huawei Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS Market relevance Medium LINE Pay Type Wallet Regions Asia Pacific Market relevance Medium PromptPay Type Bank transfer Regions Asia Pacific Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Big C Type Cash Regions Asia Pacific Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Cash on Delivery Type Cash Regions Asia Pacific G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Krungsri Online Type Bank transfer Regions Asia Pacific KrungThai Next Type Bank transfer Regions Asia Pacific mPay Wallet Type Wallet Regions Asia Pacific NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Pay@Post Type Cash Regions Asia Pacific SCB PromptPay Type Bank transfer Regions Asia Pacific Tot Quick Pay Type Wallet Regions Asia Pacific Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 TrueMoney Type Wallet Regions Asia Pacific Market relevance High

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