Thailand Retail Market 2016-2020
About the Thailand Retail Market
The market is expected to post a positive growth during the forecast period. In 2015, the grocery sector accounted for the majority of the market with a share of 82.01%. Increasing urbanization, changing lifestyles, and demand for sophisticated products will be some of the major drivers propelling the market's growth over the next five years. An increase in consumer spending and growing acceptance of digitization will also help in the market's growth. With more adoption of smartphones and increasing penetration of the internet, the online segment is poised for a strong growth. The growth of online shopping can be seen as a major trend emerging in the market.
Technavio’s analysts forecast the Thailand retail market to grow at a CAGR of 6.38% by revenue during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the Thailand retail market for 2016-2020. To calculate the market size, the report takes into account the revenue generated from retail sales of the products offered. The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Thailand Retail Market 2016-2020
Technavio recognizes the following companies as the key players in the Thailand retail market: Big C, Central, CP ALL, Global House, and Home Pro.
Other Prominent Vendors in the market are: Adidas, AEON, Isetan Mistukoshi Holdings, Lazada Group, Nike, Sephora, Seven & I Holdings, Tesco, The Mall Group, and WearYouwant.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth of the launch of 4G services which is influencing social media and boosting e-Commerce. The B2C e-commerce market in Thailand accounts for less than 1% of the total retail market by value. However, it is expected to grow at a CAGR of 18% between 2016 and 2020 owing to increasing internet penetration, increasing trust on online payment options, and faster and efficient delivery and return options.”
According to the report, a key driver which is influencing growth is the expansion and growth of modern retail. The retail landscape in Thailand is mostly dominated by traditional mom and pop stores. However, the landscape is slowly changing and these traditional stores are now being replaced by modern retail stores and shopping malls. It is noted that convenience stores are highly proliferating in the market. The market leader in this format is the 7-Eleven franchise, which accounted for about 53% of sales in 2014.
Further, the report states that one challenge that could restrict market growth is the availability of counterfeit products.
Big C, Central, CP ALL, Global House, Home Pro, Adidas, AEON, Isetan Mistukoshi Holdings, Lazada Group, Nike, Sephora, Seven & I Holdings, Tesco, The Mall Group, WearYouwant.