In the coming years e-commerce is expected to grow driven by the growing number of users of mobile phones and internet.
So, how do can one say that Thailand is ready to become an e-commerce city?
To say that, we need to consider several other factors other than just the economic size. To begin with, the attractiveness of the e-commerce landscape, which includes the readiness to adapt to the technological disruption, ecosystem and competitiveness, customer behavior, and network infrastructure. And most significantly, growth opportunities in the future.
All of these factors not only let a city sustain high economic growth rates, but also builds a stable and harmonious business ecosystem for the e-commerce to strive.
Those who have been in Thailand are have been closely associated with the country should know how fast is its growth in the ecommerce sector. According to the Electronic Transactions Development Agency (ETDA), the Thai ecommerce grew by 14% in 2018 that reached to some 3.2 trillion baht. Owing to that, its growth is likely to hit 20% this year. Besides, with a GDP of USD 602 billion, the country is the 2nd largest economy in the Southeast Asia.
So, what actually makes the country a strong foundation for ecommerce?
It’s great number of internet users. While saying that, we also have to mention one thing which is high acquisitive power of the middle class that enables rich internet penetration.
Top 12 e-commerce cities in Asia
- Bangkok,
- Beijing,
- Ho Chi Minh City,
- Hong Kong,
- Jakarta,
- Kuala Lumpur,
- Mumbai,
- Osaka,
- Seoul,
- Shanghai,
- Singapore, and
- Tokyo
To add more, Bankok’s online retail commerce is highly manipulated by the increased internet penetration, mobile usage, intense competition among the various ecommerce operators, and mobile usage. In fact, third party logistic assistance retailers in the city have become more efficient by using online delivery system. Thai government even has their e-payment scheme, which is yet another key driver for stimulating the ecommerce activities.
Moreover, the government’s first Digital Thailand Initiative that began in 2016 has brought ample business opportunities for business across various industries in order to digitize the operations.
