FBI-亚洲零售业之泰国（英文）-2019.4-18页_1mb

Thailand Retail Summary

Core Content

Thailand's retail sector is undergoing significant transformation driven by digital innovation, e-commerce growth, and the tourism boom. The country has a population of 69.2 million, with a real GDP growth of 4.1% yoy in 2018 and a GDP per head of US$18,902. The retail sales reached US$113.5 billion in 2018, up 3.1% yoy. The retail market is also seeing an increase in mobile commerce and mobile payment adoption, with social media playing a pivotal role in e-commerce growth.

Main Points

• Economic Context:

  • Thailand has a large population and a growing economy, with significant retail sales and a rising GDP.
  • The tourism industry contributes about 12% to Thailand's GDP and has seen a surge in visitor numbers, reaching 38.27 million in 2018 and projected to reach 41.1 million in 2019.

• Major Domestic Retailers:

  • Central Group: A leading retail conglomerate with a diverse range of businesses including department stores, convenience stores, hypermarkets, and e-commerce platforms.
    • Sales in 2018: 397,308 million baht (US$12,205 million)
    • Outlets in 2017: 4,970
    • Major brands: Central Department Store, Big C, 7-Eleven Thailand, etc.
  • CP ALL PCL: Known for convenience stores and digital services.
    • Sales in 2018: 527,860 million baht (US$16,215 million)
    • Outlets in 3Q2018: 10,902
    • Major brands: 7-Eleven Thailand, Siam Makro, etc.
  • The Mall Group: Operates shopping malls and department stores.
    • Sales in 2017: 50,000 million baht (US$1,536 million)
    • Outlets in 2018: 12
    • Major brands: The Emporium, The Emquartier, etc.

• E-commerce Growth:

  • E-commerce sales in Thailand reached US$2.3 billion in 2018.
  • M-commerce accounted for 40% of total e-commerce sales in 1Q18.
  • Major e-commerce players include Alibaba (Lazada), CP Group (24 Shopping, iTrue Market), Sea (Shopee Mall), Amazon, and Tesco Lotus.

• Thailand 4.0 Policy:

  • Launched in 2016, the policy aims to transform Thailand into a high-income, value-based economy.
  • The government partnered with Alibaba to invest 11 billion baht in the Eastern Economic Corridor (EEC), enhancing logistics and e-commerce capabilities.
  • Thaitrade.com was transformed into a national e-marketplace, connecting micro SMEs and farmers with global e-commerce platforms.

• Digital Transformation:

  • Traditional retailers are integrating digital technologies to enhance consumer experience.
  • 7-Eleven Thailand introduced AI and facial recognition in its stores and expanded its digital payment and delivery services.
  • CP Group's TrueMoney expanded its payment network to 100,000 locations, including subway stations in Bangkok.
  • Central Group partnered with JD.com to launch an e-wallet and unmanned stores, leveraging AI and big data analytics.

• Social Commerce:

  • Social media is a major driver of e-commerce in Thailand, with users spending an average of 3.5 hours/day online.
  • Platforms like Instagram and Facebook are used for social commerce, with Instagram being a key platform for product sales, especially in fashion, beauty, and food.
  • Over 150 million Instagram users interact with businesses monthly, with a significant portion of interactions starting with Instagram stories.

• Mobile Payment:

  • Mobile payments have seen exponential growth, with the national e-payment service PromptPay launched in 2017.
  • Mobile transaction volume surged 130% yoy in 1Q18, reaching a cumulative transaction value of about 1.6 trillion baht.
  • Major digital wallets include PromptPay, TrueMoney, and Omise Payment, with major banks reducing digital transaction fees to encourage usage.

• Tourism and Retail:

  • The tourism boom has led to the development of new outlet malls to cater to foreign visitors, especially Chinese tourists.
  • Central Group and Siam Piwat are building outlet malls near major airports and in key areas of Bangkok.
  • Central Villageis, the largest outlet mall, is set to open in 3Q19 near Suvarnabhumi International Airport.

Key Information

• GDP: US$497.5 billion in 2018, with a GDP per head of US$18,902.
• Consumer Price Inflation: 1.4% in 2018.
• E-commerce Sales: US$2.3 billion in 2018, with M-commerce accounting for 40% of total e-commerce sales in 1Q18.
• Mobile Payment Growth: Mobile transaction volume surged 130% yoy in 1Q18, with cumulative transaction value of 1.6 trillion baht.
• Tourism Impact: 38.27 million tourists in 2018, with an expected increase to 41.1 million in 2019. Tourism contributes about 12% to Thailand's GDP.
• Major E-commerce Players and Market Shares:
  • Alibaba (Lazada): 23.3%
  • CP Group (24 Shopping, iTrue Market): 12.2%
  • Sea (Shopee Mall): 7.3%
  • Amazon: 6.2%
  • Tesco Lotus: 5.9%

Conclusion

Thailand's retail market is evolving rapidly due to digital transformation, government initiatives like Thailand 4.0, and the growth of e-commerce and social commerce. Traditional retailers are adapting by integrating advanced technologies, while new retail formats such as outlet malls are being developed to cater to the tourism boom. The increasing use of mobile payments and the popularity of social media platforms are also shaping the future of retail in Thailand.