Retail Industry in Thailand Market Trends

Statistics for the 2023 & 2024 Retail Industry in Thailand market trends, created by Mordor Intelligence™ Industry Reports. Retail Industry in Thailand trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Market Trends of Retail Industry in Thailand

This section covers the major market trends shaping the Thailand Retail Market according to our research experts:

Growth of the Tourism Industry in Thailand is Driving the Market

The tourism sector generates the majority of the revenue, and it plays a key role in driving the country's economy. Tourists are augmenting the demand for products related to fashion, apparel, and electronics. Chinese tourists are the top customers of Thai stores. The most widely purchased product categories by Chinese consumers are health products, herbs, handicrafts, cosmetics, etc. The cosmetics products are popular in terms of purchasing for reselling, followed by clothing and herbs. The main groups of tourists visiting Thailand include China, Malaysia, India, South Korea, Laos, and Japan. Furthermore, the tourists from these six countries account for almost 60% of the total foreign tourists.

Thailand Retail Industry - Number of foreign tourists in Thailand in the first half of 2020, by region of origin

Increase in Urban Population in Thailand

Urban population comprises nearly half of the total population in Thailand, and these urban consumers are showing increasing propensity for convenience, high-quality brands frequenting smaller shops, stores and supermarkets near their workplaces or transportation routes, primarily to purchase daily necessities and meals rather than less-frequent, higher purchases at larger traditional markets. Over the past 30 years, in the country, urbanization has been a primary growth factor. The presence of a large young urban population is expected to augment the demand for retail sales of products, such as apparel, consumer electronics, fashion, and personal care.

Thailand Retail Industry - Share of Urban Population, In %, Thailand, 2015 - 2020

Thailand Retail Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)