Retail in Thailand

Retail in Thailand posted positive growth in current value terms in 2024 representing a similar performance to the one seen in 2023. The market landscape is becoming more dynamic due to both positive and negative factors. For example, fluctuations in the economy impacted consumer spending behaviour. The increase in the cost of living, reduced disposable income and high household indebtedness resulted in many consumers being forced to tighten their belts and to be more cautious in their spending.

Euromonitor International's 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
Euromonitor International
March 2025
List Of Contents And Tables
RETAIL IN THAILAND
EXECUTIVE SUMMARY
Retail in 2024: The big picture
Potential for further growth in Retail E-Commerce
Soft power influencing and shaping the Thai retail landscape
Positive and promising outlook for Retail in Thailand over the forecast period
OPERATING ENVIRONMENT
Informal retail
Opening hours for physical retail
Summary 1 Standard Opening Hours by Channel Type 2024
Seasonality
Payday shopping
Mid-year and year-end sales
Black-to-School
Valentine’s Day
Thai Mother’s Day
Thai Father’s Day
MARKET DATA
Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2019-2024
Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2019-2024
Table 3 Sales in Retail Offline by Channel: Value 2019-2024
Table 4 Sales in Retail Offline by Channel: % Value Growth 2019-2024
Table 5 Retail Offline Outlets by Channel: Units 2019-2024
Table 6 Retail Offline Outlets by Channel: % Unit Growth 2019-2024
Table 7 Sales in Retail E-Commerce by Product: Value 2019-2024
Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2019-2024
Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 11 Sales in Grocery Retailers by Channel: Value 2019-2024
Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2019-2024
Table 13 Grocery Retailers Outlets by Channel: Units 2019-2024
Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 17 Sales in Non-Grocery Retailers by Channel: Value 2019-2024
Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2019-2024
Table 19 Non-Grocery Retailers Outlets by Channel: Units 2019-2024
Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
Table 21 Retail GBO Company Shares: % Value 2020-2024
Table 22 Retail GBN Brand Shares: % Value 2021-2024
Table 23 Retail Offline GBO Company Shares: % Value 2020-2024
Table 24 Retail Offline GBN Brand Shares: % Value 2021-2024
Table 25 Retail Offline LBN Brand Shares: Outlets 2021-2024
Table 26 Retail E-Commerce GBO Company Shares: % Value 2020-2024
Table 27 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
Table 28 Grocery Retailers GBO Company Shares: % Value 2020-2024
Table 29 Grocery Retailers GBN Brand Shares: % Value 2021-2024
Table 30 Grocery Retailers LBN Brand Shares: Outlets 2021-2024
Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2020-2024
Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2021-2024
Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2021-2024
Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2024-2029
Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2024-2029
Table 36 Forecast Sales in Retail Offline by Channel: Value 2024-2029
Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2024-2029
Table 38 Forecast Retail Offline Outlets by Channel: Units 2024-2029
Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2024-2029
Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2024-2029
Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2024-2029
Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2024-2029
Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2024-2029
Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2024-2029
Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029
Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2024-2029
Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2024-2029
Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2024-2029
Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029
DISCLAIMER
SOURCES
Summary 2 Research Sources
CONVENIENCE RETAILERS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Hectic lifestyles and on-the-go consumption fuel a strong performance from convenience stores
Players adopt different strategic moves to stay ahead of the competition
Product assortments could be differentiated to serve different target audiences in different areas
PROSPECTS AND OPPORTUNITIES
Intense competition could be a big challenge to growth
Players seeking new ways to differentiate themselves from the competition
Integration of convenience retail with retail e-commerce
CHANNEL DATA
Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2019-2024
Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 56 Sales in Convenience Retailers by Channel: Value 2019-2024
Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2019-2024
Table 58 Convenience Retailers GBO Company Shares: % Value 2020-2024
Table 59 Convenience Retailers GBN Brand Shares: % Value 2021-2024
Table 60 Convenience Retailers LBN Brand Shares: Outlets 2021-2024
Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2024-2029
Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2024-2029
HYPERMARKETS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Hypermarkets sees strong growth despite increasing competition from smaller format stores
Despite the tough economic landscape, leading players continue to invest in expanding their store networks
Players focus on localisation and new store formats to expand their target audience
PROSPECTS AND OPPORTUNITIES
Thailand’s economic growth expect to support demand and growth at hypermarkets
Intense competition awaits from other smaller-sized retail formats
Consumer preferences set to shift further towards online shopping
CHANNEL DATA
Table 65 Hypermarkets: Value Sales, Outlets and Selling Space 2019-2024
Table 66 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 67 Hypermarkets GBO Company Shares: % Value 2020-2024
Table 68 Hypermarkets GBN Brand Shares: % Value 2021-2024
Table 69 Hypermarkets LBN Brand Shares: Outlets 2021-2024
Table 70 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 71 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
SUPERMARKETS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Supermarkets thriving with loyalty schemes proving successful in attracting and retaining customers
Leading players re-brand to strengthen their positioning
Premiumisation featuring more prominently in supermarkets as players look to differentiate their offerings
PROSPECTS AND OPPORTUNITIES
The future of supermarkets looks promising
Private label development expected to increase
Membership programmes and omnichannel strategies likely to feature prominently
CHANNEL DATA
Table 72 Supermarkets: Value Sales, Outlets and Selling Space 2019-2024
Table 73 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 74 Supermarkets GBO Company Shares: % Value 2020-2024
Table 75 Supermarkets GBN Brand Shares: % Value 2021-2024
Table 76 Supermarkets LBN Brand Shares: Outlets 2021-2024
Table 77 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 78 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
SMALL LOCAL GROCERS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Small local grocers continue to be threatened by the rise of modern retail and e-commerce
Some family-owned small local grocers may no longer have succession plans to carry on the business
Local/specific offerings tend to be among key factors for success in Small Local Grocers
PROSPECTS AND OPPORTUNITIES
Small local grocers would continue to be threatened
Proximity shopping behaviour should help small local grocers to remain relevant
Rural areas will remain important for small local grocers, but investment may be needed to compete in urban areas
CHANNEL DATA
Table 79 Small Local Grocers: Value Sales, Outlets and Selling Space 2019-2024
Table 80 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 81 Small Local Grocers GBO Company Shares: % Value 2020-2024
Table 82 Small Local Grocers GBN Brand Shares: % Value 2021-2024
Table 83 Small Local Grocers LBN Brand Shares: Outlets 2021-2024
Table 84 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 85 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
GENERAL MERCHANDISE STORES IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Department stores see strong growth in Thailand in 2024 despite mounting competition
Variety stores enjoyed its double-digit performance
Players explore new ways to expand through marketing, partnerships and events
PROSPECTS AND OPPORTUNITIES
Large retailers highlighting on their steps towards sustainability and love-earth campaigns
Miniso fuelled for success with its character-based product lines
Digitalisation set to play an increasingly important role in the future of general merchandise stores
CHANNEL DATA
Table 86 General Merchandise Stores: Value Sales, Outlets and Selling Space 2019-2024
Table 87 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 88 Sales in General Merchandise Stores by Channel: Value 2019-2024
Table 89 Sales in General Merchandise Stores by Channel: % Value Growth 2019-2024
Table 90 General Merchandise Stores GBO Company Shares: % Value 2020-2024
Table 91 General Merchandise Stores GBN Brand Shares: % Value 2021-2024
Table 92 General Merchandise Stores LBN Brand Shares: Outlets 2021-2024
Table 93 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 94 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 95 Forecast Sales in General Merchandise Stores by Channel: Value 2024-2029
Table 96 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2024-2029
APPAREL AND FOOTWEAR SPECIALISTS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Apparel and footwear specialists see healthy growth in 2024 but various positive and negative trends influence the market
Apparel and footwear specialists in a state of flux as consumer demands become increasingly polarised
Social media playing an increasingly important role in marketing apparel and footwear
PROSPECTS AND OPPORTUNITIES
Consumers expected to look for comfortable, unique and casual styles when shopping for apparel and footwear
Polarisation set to continue in the market offering opportunities for retailers at both ends of the price spectrum
Green fashion is gaining traction
CHANNEL DATA
Table 97 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2019-2024
Table 98 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 99 Apparel and Footwear Specialists GBO Company Shares: % Value 2020-2024
Table 100 Apparel and Footwear Specialists GBN Brand Shares: % Value 2021-2024
Table 101 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2021-2024
Table 102 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 103 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
APPLIANCES AND ELECTRONICS SPECIALISTS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Product specific trends and economic factors shaping the performance of appliances and electronics specialists
Appliances and electronics specialists make heavy use of discounts and promotions to attract shoppers
Traditional and independent retailers still significant in the channel but face increasingly stiff competition
PROSPECTS AND OPPORTUNITIES
Digitalisation and urbanisation should support the growth of appliances and electronics specialists but challenges remain
Retail e-commerce likely to present challenges and opportunities for appliances and electronics specialists
Sustainability claims likely to be a key selling point for retailers and brands
CHANNEL DATA
Table 104 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2019-2024
Table 105 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 106 Appliances and Electronics Specialists GBO Company Shares: % Value 2020-2024
Table 107 Appliances and Electronics Specialists GBN Brand Shares: % Value 2021-2024
Table 108 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2021-2024
Table 109 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 110 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
HEALTH AND BEAUTY SPECIALISTS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Health and beauty specialists see robust growth in 2024 despite intense competition
Dermatologicals a key focus of pharmacies while Watsons extends its lead thanks to investments in new technology and store refurbishments
Retail e-commerce expansion for Health and Beauty Specialists
PROSPECTS AND OPPORTUNITIES
Product promotions and discount offers likely to play a key role in the market as competition heats up
The popularity of their in-store services should support strong footfall in optical goods stores
Brand portfolios could hold the key to success as consumer preferences evolve
CHANNEL DATA
Table 111 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2019-2024
Table 112 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 113 Sales in Health and Beauty Specialists by Channel: Value 2019-2024
Table 114 Sales in Health and Beauty Specialists by Channel: % Value Growth 2019-2024
Table 115 Health and Beauty Specialists GBO Company Shares: % Value 2020-2024
Table 116 Health and Beauty Specialists GBN Brand Shares: % Value 2021-2024
Table 117 Health and Beauty Specialists LBN Brand Shares: Outlets 2021-2024
Table 118 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 119 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 120 Forecast Sales in Health and Beauty Specialists by Channel: Value 2024-2029
Table 121 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2024-2029
HOME PRODUCTS SPECIALISTS IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Urbanisation and a trends towards small-living spaces supports sales through home products specialists
Product variety and in-store services are key strategies to success
Pet humanisation trend supporting dynamic growth in pet shops and superstores
PROSPECTS AND OPPORTUNITIES
Home products specialists may need to adapt to the needs of price sensitive consumers
Price concerns and an increased focus on sustainability likely to inform purchasing behaviour
Pet humanisation trend likely to remain a key factor driving the growth of pet shops and superstores
CHANNEL DATA
Table 122 Home Products Specialists: Value Sales, Outlets and Selling Space 2019-2024
Table 123 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
Table 124 Sales in Home Products Specialists by Channel: Value 2019-2024
Table 125 Sales in Home Products Specialists by Channel: % Value Growth 2019-2024
Table 126 Home Products Specialists GBO Company Shares: % Value 2020-2024
Table 127 Home Products Specialists GBN Brand Shares: % Value 2021-2024
Table 128 Home Products Specialists LBN Brand Shares: Outlets 2021-2024
Table 129 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
Table 130 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
Table 131 Forecast Sales in Home Products Specialists by Channel: Value 2024-2029
Table 132 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2024-2029
DIRECT SELLING IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Direct selling sees a modest return to growth in 2024 with food a key focus of demand
Amway and Mistine making movements in direct selling
Direct selling companies still see strong potential in offering health and wellness products
PROSPECTS AND OPPORTUNITIES
Direct selling could benefit from an expanded sales force but sales likely to remain under pressure
New product development and educational marketing could be employed to build brand loyalty
Content marketing and video streaming strategies likely to be key to the future success of direct selling
CHANNEL DATA
Table 133 Direct Selling by Product: Value 2019-2024
Table 134 Direct Selling by Product: % Value Growth 2019-2024
Table 135 Direct Selling GBO Company Shares: % Value 2020-2024
Table 136 Direct Selling GBN Brand Shares: % Value 2021-2024
Table 137 Direct Selling Forecasts by Product: Value 2024-2029
Table 138 Direct Selling Forecasts by Product: % Value Growth 2024-2029
VENDING IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Busy urban lifestyles and a rebound in tourism boosts sales in vending in 2024
Smart vending machines by Tao Bin fuelling up demand
Vending players look to benefit from the growing demand for collectible toys and blind boxes
PROSPECTS AND OPPORTUNITIES
Urbanisation expected to boost the growth of vending over the forecast period while players could explore new opportunities for the channel
Low-maintenance requirements further support expansion of Vending
Art toys and collectibles and convenience stores seen to offer new growth opportunities for vending
CHANNEL DATA
Table 139 Vending by Product: Value 2019-2024
Table 140 Vending by Product: % Value Growth 2019-2024
Table 141 Vending GBO Company Shares: % Value 2020-2024
Table 142 Vending GBN Brand Shares: % Value 2021-2024
Table 143 Vending Forecasts by Product: Value 2024-2029
Table 144 Vending Forecasts by Product: % Value Growth 2024-2029
RETAIL E-COMMERCE IN THAILAND
KEY DATA FINDINGS
2024 DEVELOPMENTS
Retail e-commerce continues to have a growing influence on the lives of Thai consumers
Shopee and Lazada remain the driving force behind the growth of e-commerce in Thailand
TikTok presents new sales opportunities through livestreaming service
PROSPECTS AND OPPORTUNITIES
Positive performance and outlook on Retail E-commerce over the forecast period
Different strategic moves expected from the leading players as competition intensifies
Grocery retail e-commerce seen as a key growth area for retail e-commerce
CHANNEL DATA
Table 145 Retail E-Commerce by Channel: Value 2019-2024
Table 146 Retail E-Commerce by Channel: % Value Growth 2019-2024
Table 147 Retail E-Commerce by Product: Value 2019-2024
Table 148 Retail E-Commerce by Product: % Value Growth 2019-2024
Table 149 Retail E-Commerce GBO Company Shares: % Value 2020-2024
Table 150 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
Table 151 Forecast Retail E-Commerce by Channel: Value 2024-2029
Table 152 Forecast Retail E-Commerce by Channel: % Value Growth 2024-2029
Table 153 Forecast Retail E-Commerce by Product: Value 2024-2029
Table 154 Forecast Retail E-Commerce by Product: % Value Growth 2024-2029

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