Retail in Thailand

February 2024
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Overview:

Understand the latest market trends and future growth opportunities for the Retailing industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Convenience Stores
  • Discounters
  • Hypermarkets
  • Supermarkets
  • Traditional Grocery Retailers
  • Apparel and Footwear Specialist Retailers
  • Electronics and Appliance Specialist Retailers
  • Health and Beauty Specialist Retailers
  • Home and Garden Specialist Retailers
  • Department Stores
  • Variety Stores
  • Warehouse Clubs
  • Direct Selling
  • Homeshopping
  • Vending

If you're in the Retailing industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Retailing in Thailand report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Retailing in Thailand?
  • Which are the leading retailers in Retailing in Thailand?
  • How are products distributed in Retailing in Thailand?
  • How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
  • How significant are discounters and private label in Thailand?
  • How has the impact of COVID-19 and national lockdown impacted consumer demand?
  • Which formats have benefited the most from stockpiling and enforced home seclusion?
  • How will the wider economic impact of COVID-19 shape the retail landscape in the future?
  • Where is future growth expected to be most dynamic?
Download Table of Contents

Retail in Thailand

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

Summary 2 Research Sources

Convenience Retailers in Thailand

KEY DATA FINDINGS

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
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
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

Supermarkets in Thailand

KEY DATA FINDINGS

Increase in current value sales for supermarkets in 2023
Fresh food as a key growth driver
Major supermarket chains rebrand to differentiate
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
Table 65 Supermarkets: Value Sales, Outlets and Selling Space 2018-2023
Table 66 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 67 Supermarkets GBO Company Shares: % Value 2019-2023
Table 68 Supermarkets GBN Brand Shares: % Value 2020-2023
Table 69 Supermarkets LBN Brand Shares: Outlets 2020-2023
Table 70 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 71 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Hypermarkets in Thailand

KEY DATA FINDINGS

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

Small Local Grocers in Thailand

KEY DATA FINDINGS

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

General Merchandise Stores in Thailand

KEY DATA FINDINGS

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
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
Table 86 General Merchandise Stores: Value Sales, Outlets and Selling Space 2018-2023
Table 87 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 88 Sales in General Merchandise Stores by Channel: Value 2018-2023
Table 89 Sales in General Merchandise Stores by Channel: % Value Growth 2018-2023
Table 90 General Merchandise Stores GBO Company Shares: % Value 2019-2023
Table 91 General Merchandise Stores GBN Brand Shares: % Value 2020-2023
Table 92 General Merchandise Stores LBN Brand Shares: Outlets 2020-2023
Table 93 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 94 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 95 Forecast Sales in General Merchandise Stores by Channel: Value 2023-2028
Table 96 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2023-2028

Apparel and Footwear Specialists in Thailand

KEY DATA FINDINGS

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
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
Table 97 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 98 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 99 Apparel and Footwear Specialists GBO Company Shares: % Value 2019-2023
Table 100 Apparel and Footwear Specialists GBN Brand Shares: % Value 2020-2023
Table 101 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2020-2023
Table 102 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 103 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Appliances and Electronics Specialists in Thailand

KEY DATA FINDINGS

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
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
Table 104 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 105 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 106 Appliances and Electronics Specialists GBO Company Shares: % Value 2019-2023
Table 107 Appliances and Electronics Specialists GBN Brand Shares: % Value 2020-2023
Table 108 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2020-2023
Table 109 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 110 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028

Home Products Specialists in Thailand

KEY DATA FINDINGS

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

Health and Beauty Specialists in Thailand

KEY DATA FINDINGS

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
Shift online will be gradual
Premiumisation trends will become more prevalent
Table 122 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2018-2023
Table 123 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2018-2023
Table 124 Sales in Health and Beauty Specialists by Channel: Value 2018-2023
Table 125 Sales in Health and Beauty Specialists by Channel: % Value Growth 2018-2023
Table 126 Health and Beauty Specialists GBO Company Shares: % Value 2019-2023
Table 127 Health and Beauty Specialists GBN Brand Shares: % Value 2020-2023
Table 128 Health and Beauty Specialists LBN Brand Shares: Outlets 2020-2023
Table 129 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2023-2028
Table 130 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2023-2028
Table 131 Forecast Sales in Health and Beauty Specialists by Channel: Value 2023-2028
Table 132 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2023-2028

Vending in Thailand

KEY DATA FINDINGS

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

Direct Selling in Thailand

KEY DATA FINDINGS

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

Retail E-Commerce in Thailand

KEY DATA FINDINGS

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
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
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
The following categories and subcategories are included:

Retailing

      • Fashion Vending
      • Health and Beauty Vending
      • Appliances and Electronics Vending
        • Alcoholic Drinks Vending
        • Hot Drinks Vending
        • Soft Drinks Vending
        • Tobacco Products Vending
      • Foods Vending
      • Home Products Vending
      • Other Products Vending
        • Apparel and Footwear Direct Selling
        • Personal Accessories Direct Selling
        • Eyewear Direct Selling
        • Beauty and Personal Care Direct Selling
        • Consumer Health Direct Selling
        • Tissue and Hygiene Direct Selling
      • Appliances and Electronics Direct Selling
      • Drinks and Tobacco Direct Selling
      • Foods Direct Selling
      • Home Products Direct Selling
      • Other Products Direct Selling
        • Apparel and Footwear E-Commerce
        • Personal Accessories E-Commerce
        • Eyewear E-Commerce
        • Beauty and Personal Care E-Commerce
        • Consumer Health E-Commerce
        • Tissue and Hygiene E-Commerce
        • Consumer Appliances E-Commerce
        • Consumer Electronics E-Commerce
        • Toys and Games E-Commerce
      • Drinks and Tobacco E-Commerce
      • Foods E-Commerce
        • Home Care E-Commerce
        • Home and Garden E-Commerce
        • Pet Care E-Commerce
      • Other Products E-Commerce
        • First-Party (1P) Marketplace E-Commerce
        • Third-Party (3P) Marketplace E-Commerce
      • Grocery E-Commerce
      • General Merchandiser E-Commerce
      • Apparel and Footwear Specialist E-Commerce
      • Appliances and Electronics Specialist E-Commerce
      • Home Products Specialist E-Commerce
      • Health and Beauty Specialist E-Commerce
      • Leisure and Personal Goods Specialist E-Commerce
      • Other E-Commerce Retailers

Retailing

Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, and wholesale sales (e.g. Cash and Carry). Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.

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