Thailand e-commerce sales growth to lead region
Thailand e-commerce sales growth is likely to reach 8.5 per cent this year, valued at THB3.06 trillion (US$92.3 billion).
A report from the Electronic Transactions Development Agency (ETDA) showed B2C e-commerce in Thailand ranking top within Southeast Asia, with chief strengths in the wholesale/retail trade, accommodation and manufacturing sectors.
Faced with the emerging potential of the online retail industry, The ETDA is spearheading two initiatives to nurture the business – dealing with Alibaba’s e-commerce platform Tmall to help Thai SMEs enter the Chinese market; and establishing an e-commerce park with Srinakarinwirot University to support e-transaction activities.
ETDA CEO Surangkana Wayuparb said, “The ETDA aims for the Thailand e-commerce park to push 15 Thai brands on the global platform in the first year of operations and help 10,000 people create 1000 micro SMEs within five years.”
She added that B2C commerce accounts for 29% of Thailand’s e-commerce value.
The Thai e-commerce industry is trending towards big data approaches to trade this year, with greater personalisation and AI algorithms driving online shopping experiences.