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Retail Market in Thailand 2019-2023 | Increase in Tourist Arrivals to Boost Growth | Technavio

November 29, 2018

LONDON--(BUSINESS WIRE)--Nov 29, 2018-- analysts forecast the retail market in Thailand to grow at a CAGR of close to 7% during the forecast period, according to their latest market research report.

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Technavio has released a new market research report on the retail market in Thailand for the period 2019-2023. (Graphic: Business Wire)

The surge in sales through online distribution channel is one of the major trends being witnessed in the . In recent times, sales of retail products through the online distribution channel have undergone a substantial surge. Both established and private retailers are effectively selling their products through online shopping portals. Also, retailers are leveraging factors such as the significant increase in internet and smartphone penetration in the country to offer their products online. Furthermore, consumers are choosing online shopping as a time-saving and rational platform, especially for their day-to-day FMCG needs. Factors such as the rapidly expanding population of working women, the rising number of nuclear families, and busy lifestyles discourage consumers from going to brick-and-mortar stores to fulfill their requirements. Therefore, consumers are increasingly adopting the online mode of shopping for buying FMCG and other products.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the retail market in Thailand is the increase in tourist arrivals:

Retail market in Thailand: Increase in tourist arrivals

A substantial upsurge in the influx of tourists has played an important role in the development of the retail market in Thailand. The country is one of the top tourism destinations in the world. Thailand welcomed more than 30 million tourists in 2017, an increase of more than 8% from a year earlier. The largest contribution (more than 25%) comes from China, followed by various other Asian countries, including Japan, South Korea, Australia, and India. The presence of numerous tourism destinations, pleasant weather conditions, the availability of luxury hotels and numerous recreational activities, and many other factors are attracting tourists over the years. Retailers in the country are largely benefiting from rising tourist expenditure, with each visitor spending $30 to $35 on retail goods every day. Hence, the exponential growth in the number of tourists visiting the country plays a significant role in the overall development of Thailand’s retail sector.

According to a senior analyst at Technavio for research on retail goods and services, “Along with increase in tourist arrivals, other factors boosting the growth of the retail market in Thailand are provision of value-added services, innovative packaging and marketing initiatives by prominent vendors, and rise in demand for private labels and low-cost products.”

Retail market in Thailand: Segmentation analysis

The Retail market in Thailand research report provides market segmentation by product (grocery, apparel and footwear, BPC, and home and garden), and by distribution channel (online and offline). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The grocery segment held the largest share of the market in 2018, accounting for close to 85% share, followed by the apparel and footwear, BPC, and home and garden respectively. With various leading domestic and international retailers expanding their product portfolios and retail stores to cater to growing consumer numbers, the market is expected to continue dominating as well as register the highest incremental growth, during the forecast period.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181129005442/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: ASIA PACIFIC THAILAND

INDUSTRY KEYWORD: ONLINE RETAIL RETAIL OTHER RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/29/2018 09:32 AM/DISC: 11/29/2018 09:32 AM

http://www.businesswire.com/news/home/20181129005442/en

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