“Retail Market in Thailand by Product and Distribution Channel – Forecast and Analysis 2021-2025” has been added to Technavio’s offering. The market witnessed a YOY growth of 5.01% in 2021 and the growth will accelerate a CAGR of almost 6% between 2020 and 2025. The report is segmented by product (grocery, apparel and footwear, BPC, home and garden, and others) and distribution channel (offline and online).
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Vendor Insights
The retail market in Thailand is highly fragmented and competitive in nature. The market is characterized by the presence of both international and local players operating across the country. The rising competition coupled with changing consumer demands is forcing vendors to launch innovative products and expand their customer base. The competition in the market is expected to intensify further with the entry of several new players, private label brands, price wars, and mergers and acquisitions.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Aeon Co. Ltd.
- Berli Jucker Public Co. Ltd.
- Central Group of Company
- CP All Public Co. Ltd.
- Foodland Supermarket Co. Ltd.
- Home Product Center Public Co. Ltd.
- Isetan Mitsukoshi Holdings Ltd.
- Seven & i Holdings Co. Ltd.
- Tesco Plc
- The Mall Group
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Key Segment Analysis
By product, the market share by the grocery segment will be significant during the forecast period. The rising consumer preference for purchasing day-to-day grocery requirements and the expansion of hypermarkets, supermarkets, and other retail outlets have been crucial in driving the growth of the segment. In addition, factors such as changing lifestyles, increasing disposable incomes, and rapid urbanization have increased the growth opportunity in the segment.
Similarly, by distribution channel, the offline segment accounted for maximum revenue generation in the market in 2021. However, faster growth is expected in the online distribution channel segment owing to the increasing number of online shopping portals and the growing penetration of smartphones.
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Key Market Drivers & Challenges:
The retail market is primarily driven by continuous improvement increase in tourist arrivals. The presence of several tourist destinations, pleasant weather, and the availability of luxury hotels has increased the number of tourists visiting Thailand. The presence of many recreational activities has also increased the number of international tourists in the country. The growth in the tourism industry is consequently supporting the growth of various other industries, which is expected to play a crucial role in the development of the market in focus.
However, the threat from counterfeit products will reduce the growth potential in the market. The retail market in Thailand is witnessing a surge in the number of counterfeit products ranging from FMCG to electronic goods. This is making it difficult for customers to differentiate them from genuine products. The availability of such products is also hampering the sales and reputation of major brands, thereby negatively influencing the market growth.
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