During 2009-2014, online retail sales expanded at a CAGR of 21% increasing much faster than the growth of store-based retailing
·
Apart from metropolitan Bangkok, the Thai retail landscape is
seeing a powerful consumer market emerging from the upcountry provinces
·
There are many retailers who have launched their own mobile
applications either for marketing purposes, promoting products or directly
communicating with consumers
Ken Research announced latest report
on, “The Future of Retailing in Thailand to 2020; Comprehensive
data overview of the market, with retail sales value and forecasts to 2020”
which discusses detailed analysis of retail sector and the leading players. It
also provides information about the Thailand retail sector value chain. The report
sheds light on how the existing players can use this information to gain the
competitive edge in the market. Additionally, major trends and drivers have
also been covered, describing the market penetration and future potential of
the industry. The report enables the reader to interpret future outlook on how
the market will shape up by the end of this decade.
Its retail market has developed quickly to
match with the changing lifestyles of consumers which are increasingly
influenced by the internet. There has been a wider use of credit and debit
cards facilitating online payments due to which, the number of credit and debit
cards in circulation increased by about 22 million to 67 million in 2014. There is a
need for the government to implement the short- and long-term measures because
mid-to-low-income consumers who rely on agricultural income still have low
purchasing power and they need stimulus from the government through Village
Funds. This shuts the sale of non-durable goods which has seen virtually no
growth. According to TRA, average growth was 8 per cent annually from 2002-2012
and during 2012-2014; sales contracted 3 per cent a year and continued to
shrink. According to the statistics, the government focuses more on
infrastructure and exports than on economic and consumption stimulus. The
government regulations are stringent like foreign investor in the retail or
wholesale sector is required to obtain a Foreign Business License from the
Director General of the Commercial Registration Department of the Ministry of
Commerce, and gain approval from the Foreign Business Committee.
The major
contributors of growth in retail industry of Thailand are surging government
expenditure and investment, low crude oil price and inflation increasing
purchasing power and growth in the tourism sector. Specialist
retailers were the gigantic channel group of total retail sales in 2015 and
will continue to command the market in 2020. During 2015-2020, online channel
is set to grow swiftly while food and drinks specialists channel is set to be
the largest in terms of retail sales. The Food and Grocery segment recorded the
majority share of overall retail sales, followed by apparel, accessories and leather
goods.
Key Topics Covered in the Report
·
Detailed analysis of Thailand
retail industry
·
Value and volume analysis for
Thailand retail industry
·
Historic and Forecast value
analysis by category
·
Key issues in the market
·
Consumer trend framework
·
Analysis of mega-trends
To know more on coverage, click on the
following link
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Ken
Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
