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Retail Market in Thailand 2019-2023 | Surge in Sales through Online Distribution Channel to Boost Growth | Technavio

November 21, 2019 GMT
Retail Market in Thailand 2019-2023 | Surge in Sales through Online Distribution Channel to Boost Growth | Technavio
Retail Market in Thailand 2019-2023 | Surge in Sales through Online Distribution Channel to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Nov 21, 2019--

The retail market in Thailand is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled retail market in Thailand 2019-2023. (Graphic: Business Wire)

The increase in tourist arrivals will be one of the major drivers in the retail market in Thailand. The influx of tourists in Thailand is increasing significantly and the largest contribution comes from China, followed by various other Asian countries, including Japan, South Korea, Australia, and India. The presence of numerous tourism destinations, pleasant weather conditions, along with the availability of luxury hotels and numerous recreational activities attract tourists to Thailand. Retailers in the country benefit from the high tourist expenditure on retail goods. Hence, the exponential growth in the number of tourists visiting the country plays a significant role in the overall development of Thailand’s retail sector.

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As per Technavio, the surge in sales through online distribution channels, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Retail Market in Thailand: Surge in Sales Through Online Distribution Channel

The surge in sales through online distribution channels will be one of the critical trends in the retail market of Thailand. Online distribution channels boost the sale of retail products and helps retailers to earn maximum profit. Both established and private retailers are selling their products through online shopping portals. Also, retailers are leveraging factors such as the significant increase in internet and smartphone penetration to offer their products online. Furthermore, consumers are choosing online shopping as a time-saving platform, especially for day-to-day FMCG needs. Several factors such as the rapidly expanding population of working women, the rising number of nuclear families, and busy lifestyles encourage consumers to adopt the online mode of shopping which will boost market growth.

“Other factors such as the provision of value-added services and the influx of numerous retail stores will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Retail Market in Thailand: Segmentation Analysis

This market research report segments the retail market in Thailand by product (grocery, apparel and footwear, BPC, home and garden, personal accessories, and consumer electronics) and distribution channel (offline and online).

The grocery segment led the market share in 2018, followed by apparel and footwear, BPC, home and garden, and others respectively. During the forecast period, the grocery segment is expected to maintain its dominance over the global market. This is due to the expansion of product portfolios by various leading domestic and international retailers to cater to growing needs of consumers.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005704/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: ASIA PACIFIC THAILAND

INDUSTRY KEYWORD: RETAIL ONLINE RETAIL HOME GOODS FASHION

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/21/2019 04:00 PM/DISC: 11/21/2019 04:01 PM

http://www.businesswire.com/news/home/20191121005704/en