Retail in Thailand - Research and Markets

Thailand’s retail industry in 2023 continued to evolve and improve, responding to growing demand from consumers with convenience as a key driver. The wholesale and retail sectors, along with the vehicle maintenance and household goods sectors, have contributed considerably to the GDP in Thailand in recent years - a solid indication of the GDP contribution retail in Thailand has to offer.

The Retail in Thailand report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Retail market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market’s major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

RETAIL IN THAILAND

EXECUTIVE SUMMARY

Retail in 2023: The big picture
Sustainable retail: modernising small local grocers
Digitalised retail: next-gen online-to-offline
What next for retail?

OPERATING ENVIRONMENT

Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2023
Seasonality
11.11 or single day
Mid- and end-year sales
Black Friday
Back-to-School

MARKET DATA

Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2018-2023
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2018-2023
Table 3 Sales in Retail Offline by Channel: Value 2018-2023
Table 4 Sales in Retail Offline by Channel: % Value Growth 2018-2023
Table 5 Retail Offline Outlets by Channel: Units 2018-2023
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2018-2023
Table 7 Sales in Retail E-Commerce by Product: Value 2018-2023
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2018-2023
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 11 Sales in Grocery Retailers by Channel: Value 2018-2023
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2018-2023
Table 13 Grocery Retailers Outlets by Channel: Units 2018-2023
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2018-2023
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2018-2023
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2018-2023
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2018-2023
Table 21 Retail GBO Company Shares: % Value 2019-2023
Table 22 Retail GBN Brand Shares: % Value 2020-2023
Table 23 Retail Offline GBO Company Shares: % Value 2019-2023
Table 24 Retail Offline GBN Brand Shares: % Value 2020-2023
Table 25 Retail Offline LBN Brand Shares: Outlets 2020-2023
Table 26 Retail E-Commerce GBO Company Shares: % Value 2019-2023
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2020-2023
Table 28 Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 29 Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2019-2023
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2020-2023
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2020-2023
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2023-2028
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2023-2028
Table 36 Forecast Sales in Retail Offline by Channel: Value 2023-2028
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2023-2028
Table 38 Forecast Retail Offline Outlets by Channel: Units 2023-2028
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2023-2028
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2023-2028
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2023-2028
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2023-2028
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2023-2028
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2023-2028
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2023-2028
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2023-2028
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2023-2028
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2023-2028

DISCLAIMER

SOURCES

Summary 2 Research Sources

CONVENIENCE RETAILERS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Convenience stores continues to expand, as the channel with the highest outlet growth in 2023
Operators innovate store formats to reach out to targeted consumers
E-commerce boosts product offering in convenience channel

PROSPECTS AND OPPORTUNITIES

Family Mart exits and rebrands as Tops Daily as food and alcohol offers boost channel sales
Delivery and foodservice offers to see further development
Continued growth predicted for current value sales and outlet numbers as players lure customers away from hypermarkets

CHANNEL DATA

Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2018-2023
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 56 Sales in Convenience Retailers by Channel: Value 2018-2023
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2018-2023
Table 58 Convenience Retailers GBO Company Shares: % Value 2019-2023
Table 59 Convenience Retailers GBN Brand Shares: % Value 2020-2023
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2020-2023
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2023-2028
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2023-2028

DISCOUNTERS IN THAILAND2023 DEVELOPMENTSHYPERMARKETS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Value sales see slowed growth 2023 in face of competition from other channels
Operators turn to new store formats
Players invest more in online presence

PROSPECTS AND OPPORTUNITIES

Hypermarkets will continue to struggle against smaller formats
Central Retail looks to push channel growth as hypermarkets players focus on providing broader offer
E-commerce to present greater competition

CHANNEL DATA

Table 65 Hypermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 66 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 67 Hypermarkets GBO Company Shares: % Value 2019-2023
Table 68 Hypermarkets GBN Brand Shares: % Value 2020-2023
Table 69 Hypermarkets LBN Brand Shares: Outlets 2020-2023
Table 70 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 71 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SUPERMARKETS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Increase in current value sales for supermarkets in 2023
Fresh food as a key growth driver
Major supermarket chains rebrand to differentiate

PROSPECTS AND OPPORTUNITIES

Current value sales set to rise in supermarkets
Promotional offers and discounting will become more aggressive
Expansion to persist, with a focus on mini formats, along with greater investment in omnichannel offer

CHANNEL DATA

Table 72 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 73 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 74 Supermarkets GBO Company Shares: % Value 2019-2023
Table 75 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 76 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 77 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 78 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

SMALL LOCAL GROCERS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Sales in small local grocers benefit from trend of shopping close to home
Higher prices hamper faster growth
Traditional grocery retailing remains highly fragmented

PROSPECTS AND OPPORTUNITIES

Small local grocers to focus on adapting to changing consumer needs
Modern retail operators are building their own local grocery formats across the country, with the need to differentiate becoming more urgent
Competition will intensify both within the channel and from modern grocery retail

CHANNEL DATA

Table 79 Small Local Grocers: Value Sales, Outlets and Selling Space 2018-2023
Table 80 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 81 Small Local Grocers GBO Company Shares: % Value 2019-2023
Table 82 Small Local Grocers GBN Brand Shares: % Value 2020-2023
Table 83 Small Local Grocers LBN Brand Shares: Outlets 2020-2023
Table 84 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 85 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPAREL AND FOOTWEAR SPECIALISTS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Leading players rise rapidly in harsh competitive landscape
Players pivot towards omnichannel model, while promotions become more prevalent
Marketing continues to shift online in 2023

PROSPECTS AND OPPORTUNITIES

Current value sales set to see slowed growth during forecast period as sustainability focus sharpens
Outlets expansion expected to resume
E-commerce expected to gain momentum over the forecast

CHANNEL DATA

Table 86 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 87 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 88 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 89 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 90 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 91 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 92 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

APPLIANCES AND ELECTRONICS SPECIALISTS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Rebound in demand aided by short-term government stimulus program
Digital devices encroach further on local lifestyles
Demand impacted by rising health and wellness trends, while competitive landscape remains fragmented

PROSPECTS AND OPPORTUNITIES

Demand will remain stable in terms of current value sales
Aggressive expansion of multi-brand retailers
E-commerce to continue rising and become greater competitive threat

CHANNEL DATA

Table 93 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 94 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 95 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 96 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 97 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 98 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 99 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

HEALTH AND BEAUTY SPECIALISTS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Normalised patterns in daily life drive recovery
Health and wellness trends continue to inform development
Chained pharmacies player Watsons maintains number one spot in overall health and beauty specialists

PROSPECTS AND OPPORTUNITIES

Shift online will be gradual
Premiumisation trends will become more prevalent

CHANNEL DATA

Table 100 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 101 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 102 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 103 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 104 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 105 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 106 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 107 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 108 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 109 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 110 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

HOME PRODUCTS SPECIALISTS IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Channel sees substantial expansion thanks to investment of major brands
Previous purchases slow sales growth
Consumers have become more comfortable buying home products online

PROSPECTS AND OPPORTUNITIES

Local and independent retail operators adapt to grow, while demographic trends and government investment will boost channel performance
Differentiation through new and improved services and membership schemes
E-commerce will keep on rising

CHANNEL DATA

Table 111 Home Products Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 112 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 113 Sales in Home Products Specialists by Channel: Value 2018-2023
Table 114 Sales in Home Products Specialists by Channel: % Value Growth 2018-2023
Table 115 Home Products Specialists GBO Company Shares: % Value 2019-2023
Table 116 Home Products Specialists GBN Brand Shares: % Value 2020-2023
Table 117 Home Products Specialists LBN Brand Shares: Outlets 2020-2023
Table 118 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 119 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 120 Forecast Sales in Home Products Specialists by Channel: Value 2023-2028
Table 121 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2023-2028

GENERAL MERCHANDISE STORES IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Variety stores sales slow in 2023 following previous year’s robust rebound
Mr DIY proves popular in variety stores, while department stores invest in e-commerce
Premium player MUJI adapts sales channels to broaden reach

PROSPECTS AND OPPORTUNITIES

On-going expansion of e-commerce will hamper growth in variety store value sales as department stores faces threat from specialists
Store-based retailers will pivot towards omnichannel retail
Popularity of Japanese culture will drive revival in Japanese-style variety stores, and department stores will attempt to woo consumers through foodservice

CHANNEL DATA

Table 122 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 123 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 124 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 125 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 126 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 127 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 128 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 129 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 130 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 131 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 132 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

DIRECT SELLING IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Current value sales decline in direct selling in 2023
Digital disruption forces direct sellers to adapt
Ranking remains stable for top players, but newcomers are stealing share, with leading players focused on health and wellness offers

PROSPECTS AND OPPORTUNITIES

Overall health and wellness will remain central to new product development
Rising unemployment will prompt greater interest in direct selling jobs as recovery continues
E-commerce will continue to cannibalise sales in direct selling

CHANNEL DATA

Table 133 Direct Selling by Product: Value 2018-2023
Table 134 Direct Selling by Product: % Value Growth 2018-2023
Table 135 Direct Selling GBO Company Shares: % Value 2019-2023
Table 136 Direct Selling GBN Brand Shares: % Value 2020-2023
Table 137 Direct Selling Forecasts by Product: Value 2023-2028
Table 138 Direct Selling Forecasts by Product: % Value Growth 2023-2028

VENDING IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Vending makes a comeback with smart models and digital payments
Tao Bin, your robotic barista, enters market as players invest more in modernisation
Leader Sun Vending Technology boosts value share through new franchise model

PROSPECTS AND OPPORTUNITIES

Convenience stores set to install more vending machines
Contactless payments will increasingly become the norm as product offer diversifies
New entrants expected to join the competition

CHANNEL DATA

Table 139 Vending by Product: Value 2018-2023
Table 140 Vending by Product: % Value Growth 2018-2023
Table 141 Vending GBO Company Shares: % Value 2019-2023
Table 142 Vending GBN Brand Shares: % Value 2020-2023
Table 143 Vending Forecasts by Product: Value 2023-2028
Table 144 Vending Forecasts by Product: % Value Growth 2023-2028

RETAIL E-COMMERCE IN THAILANDKEY DATA FINDINGS

2023 DEVELOPMENTS

Value sales slow though growth remains high for e-commerce in 2023
Online grocery shopping drives up value and volume
Landscape fragments further with more and more retailers shifting online, while JD central withdraws from competition

PROSPECTS AND OPPORTUNITIES

Current value sales will continue to rise throughout the forecast period
Multinational players will continue to lead
Home products marketplace to see strong growth going forward

CHANNEL DATA

Table 145 Retail E-Commerce by Channel: Value 2017-2022
Table 146 Retail E-Commerce by Channel: % Value Growth 2017-2022
Table 147 Retail E-Commerce by Product: Value 2017-2022
Table 148 Retail E-Commerce by Product: % Value Growth 2017-2022
Table 149 Retail E-Commerce GBO Company Shares: % Value 2018-2022
Table 150 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
Table 151 Forecast Retail E-Commerce by Channel: Value 2022-2027
Table 152 Forecast Retail E-Commerce by Channel: % Value Growth 2022-2027
Table 153 Forecast Retail E-Commerce by Product: Value 2022-2027
Table 154 Forecast Retail E-Commerce by Product: % Value Growth 2022-2027

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

CP 7-Eleven PCL
Central Retail Corp Ahold Co
Ek-Chai Distribution System Co Ltd
Big C Supercenter PCL
Mall Group Co Ltd, The
Cencar Co Ltd
Samart I-Mobile PCL
Home Product Center PCL
Amway (Thailand) Ltd
V Shop Co Ltd
Siam Family Mart Co Ltd
Foodland Supermarket Co Ltd
Boots Retail (Thailand) Ltd
IT City PCL
Better Way (Thailand) Co Ltd
Se-Education PCL
Conoco (Thailand) Ltd
Tung Hua Seng Dept Store Co Ltd
Siam Jusco Co Ltd
SB Furniture Co Ltd

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Why buy this report?

Table of Contents

Companies Mentioned (Partial List)

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