E-commerce booms in Thailand despite economic slowdown

Thai consumers have flocked to online shopping amid the economic downturn, with platforms Shopee, Lazada and TikTok raking in billions of dollars.

Online shopping trend continues to grow strongly in Thailand despite economic downturn - Photo: The Nation

On October 20, Thailand's The Nation newspaper cited the latest reports showing that Southeast Asia's e-commerce sector is growing at an average annual rate of 12-15%. This trend is in complete contrast to the decline of the traditional retail industry.

Among them, Thailand is ranked as one of the largest and most dynamic markets in the region.

Data from Priceza.com shows that Thailand's e-commerce market grew 14% by 2024 to 1.1 trillion baht (about $33.6 billion), up from 980 billion baht in 2023. The figure is expected to reach 1.6 trillion baht by 2027.

Leading the market are Lazada and Shopee. Data from Creden Data shows that Shopee Thailand's revenue in 2024 will skyrocket to 49.96 billion baht, while Lazada's revenue will reach 30.16 billion baht.

TikTok, although newly emerged, thanks to its livestream sales model, generated 12 billion baht in revenue in its first year of operation.

The growth in e-commerce, despite signs of weakening purchasing power, reflects how consumers are quickly adapting to online shopping. Essentials, household goods, fashion and cosmetics are among the top sellers on digital platforms.

Price and promotions are the main factors that drive consumer decisions. Meanwhile, e-commerce platforms are enhancing the online shopping experience through recommendation systems, e-wallet payments, fast delivery and flexible payment options such as post-paid or installment payments. This has transformed consumer habits into "buy now, see later".

Varitha Kiatpinyochai, CEO of Lazada Thailand, said e-commerce continues to grow despite economic difficulties. "We estimate that e-commerce now accounts for about a quarter of Thailand's total retail market," she said.

Thailand strengthens consumer protection

In June 2025, the Bangkok Post reported that the Thai government will increase oversight of digital markets, imposing new regulations on certain types of platforms to protect consumers and promote a responsible e-commerce environment.

Platforms identified as having a "high impact", with high user numbers or transaction volumes, will be subject to close monitoring, the Electronic Transactions Development Authority (ETDA) said.

Accordingly, the regulations tighten control over platforms that lack effective monitoring mechanisms, pose a risk of violating the law, infringing on privacy and personal data. Platforms under management must register as legal entities in Thailand, submit periodic reports, collect and verify seller information, and publicly disclose detailed product information on the system...

TRAN PHUONG

Source: https://tuoitre.vn/thuong-mai-dien-tu-bung-no-o-thai-lan-du-kinh-te-suy-yeu-2025102016340863.htm