With changing consumer behavior in the last year, Thai e-Commerce was estimated to shoot up to a value of 3.2 trillion baht. In fact, internet users in the country have grown almost 4 times in the past 10 years. Besides, so many international platforms have come in the support of the online shoppers with increasing confidence in online payment. To ensure that, the service providers have turn to using Big Data in order to analyze the needs and behavior of the consumers, whereas AI is used to ensure quality products through Chatbots.
According to the trends, the growth is expected to continue with usage of 5G while creating new innovations to lift the quality of life of the consumers. To this, the Executive Director of Electronic Transactions Development Agency (ETDA) revealed that survey results on e-Commerce in Thailand shows a consistent growth between 8-10% per year. And these statistics have been collected since 2014.
Past Vs Present Stats
In 2008, there were just 16.1 million internet users, whereas after 10 years that has increased to 45.2 million. Change in technology and communication tools are supposedly the major reasons behind this sudden change in the consumer behavior. Additionally, reduction in the price of these tools and services has resulted in more people having online access.
The e-Commerce market of Thailand, not only has a good number of buyers but also seller that are also in line with the growth of platforms. To sum up, individuals who have been thinking of investing in the online business in Thailand, this could be the opportunity to seize.
