The Electronic Transactions Development Agency (ETDA) has released its “Value of e-Commerce Survey in Thailand 2023” report, revealing a significant surge in the Thai e-commerce market in 2023, reaching a total value of 5.96 trillion baht, a substantial increase from 5.43 trillion baht in 2022.
#ThaiEcommerce #ETDA #ValueofeCommerce
Insurance Sector’s Remarkable Growth
The most noteworthy finding is the exceptional growth of the insurance industry, boasting a 31% increase in value,outperforming all other sectors. This is followed by the arts, entertainment, and recreation industry (24%) and the retail and wholesale trade industry (13%).
B2C Dominates, Online Sales Channels Thrive
The report also highlights that the B2C segment continues to dominate the Thai e-commerce market, accounting for 51.7% of the total value. Meanwhile, e-Marketplaces and Social Commerce remain the most popular channels for online transactions.
#B2C #eMarketplaces #SocialCommerce
Driving Factors and Challenges
The most crucial internal factor influencing the growth of Thai e-commerce is the creation of excellent customer experiences (Customer Experience), including expanding service channels, sales, payment options, and offering quality products and services at reasonable prices. External factors include economic conditions, shifting consumer behavior, and the availability of internet infrastructure.
#CustomerExperience #DigitalTransformation
Emerging Technologies and the Future of E-commerce
Affiliate Marketing and Artificial Intelligence (AI) are two technologies gaining traction among Thai e-commerce entrepreneurs. Affiliate Marketing has proven to significantly boost sales, while AI is being applied to various aspects of businesses.
#AffiliateMarketing #AI
The Next Chapter of Thai E-commerce
With continuous growth and rapid changes, Thai e-commerce is entering a new era filled with opportunities and challenges. Entrepreneurs and stakeholders must adapt to these changes to seize opportunities and thrive in the flourishing e-commerce market.
For further information, please visit the ETDA Thailand page: https://www.facebook.com/ETDA.Thailand
