Latest News- Retail Market in Thailand: Grocery is expected to lead the Product segment during 2025-2029

The Retail Market in Thailand is being driven by Growing demand for convenience food products

The Retail Market in Thailand is expected to grow at a CAGR of 6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 71.7 billion. In the Thai retail market, the online distribution channel has experienced exponential growth by 2024. Both established and private retailers have effectively capitalized on this trend, selling their merchandise through digital shopping portals. Eliminating the need for physical stores, salespeople, and inventory, retailers are increasingly prioritizing online sales. Factors such as the substantial expansion of internet and smartphone usage in Thailand, as well as the growing population of working women, nuclear families, and busy lifestyles, have led consumers to prefer time-saving and rational online shopping platforms for their daily FMCG needs. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Grocery
  • Apparel and footwear
  • BPC
  • Home and garden
  • Others
• Distribution Channel
  • Offline
  • Online
• Pricing Scheme
  • Cash
  • Digital payment
  • Buy now pay later
• Geography
  • Thailand

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for convenience food products
• Provision of value-added services
• Influx of numerous retail stores

However, the market also witnesses some limitations, which are as follows:

• Threat from counterfeit products
• Trade risks associated with retail industry
• Issues related to logistics and supply chain operations

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Market Scope in Retail Market in Thailand Research Report

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Research Analysis Overview

In Thailand's retail market, key sectors include Grocery, Apparel, Footwear, Home and Garden, Convenience Foods, Processed Meats, and Technology Products. Working women, seeking financial independence, drive demand for these items. Online shopping, including Ecommerce players and Online Food Service, is growing due to convenience and card abandonment issues. Niche trends like Healthcare and Wellness, Live Streaming Engagement, and Cross-Border Ecommerce are also emerging. Travel, Food Service, Media and Entertainment, and Commercial Assessments complete the diverse retail landscape. Product return rates remain a challenge for retailers.

Market Research Overview

The Thai retail market encompasses various sectors, including grocery, apparel, footwear, BPC (Building and Construction Products), convenience food products, processed meat, and other consumer discretionary merchandise. According to Technavio, the Thai broadline retail market size is determined by the revenues generated by internet retailers, third-party online platforms, door-to-door retailers, department stores, and general merchandise companies offering online marketplaces for consumer products and services. Key growth drivers for the Thai broadline retail market include the increasing adoption of advanced mobile devices and high Internet penetration, enabling consumers to access on-demand products and services online.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/