DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Thailand Retail Market 2016-2020" report to their offering.
The Thailand retail market to grow at a CAGR of 6.38% by revenue during the period 2016-2020.
The market is expected to post a positive growth during the forecast period. In 2015, the grocery sector accounted for the majority of the market with a share of 82.01%.
Increasing urbanization, changing lifestyles, and demand for sophisticated products will be some of the major drivers propelling the market's growth over the next five years. An increase in consumer spending and growing acceptance of digitization will also help in the market's growth. With more adoption of smartphones and increasing penetration of the internet, the online segment is poised for a strong growth. The growth of online shopping can be seen as a major trend emerging in the market.
A trend which is boosting market growth of the launch of 4G services which is influencing social media and boosting e-Commerce. The B2C e-commerce market in Thailand accounts for less than 1% of the total retail market by value. However, it is expected to grow at a CAGR of 18% between 2016 and 2020 owing to increasing internet penetration, increasing trust on online payment options, and faster and efficient delivery and return options.
According to the report, a key driver which is influencing growth is the expansion and growth of modern retail. The retail landscape in Thailand is mostly dominated by traditional mom and pop stores. However, the landscape is slowly changing and these traditional stores are now being replaced by modern retail stores and shopping malls. It is noted that convenience stores are highly proliferating in the market. The market leader in this format is the 7-Eleven franchise, which accounted for about 53% of sales in 2014.
Further, the report states that one challenge that could restrict market growth is the availability of counterfeit products.
The market is divided into the following segments based on product:
- Home and garden
- Apparel and footwear
- Grocery items
- Consumer electronics
- Beauty and personal care (BPC)
- Personal accessories
Key vendors
- Big C
- Central
- CP ALL
- Global House
- Home Pro
Other prominent vendors
- Adidas
- AEON
- Isetan Mistukoshi Holdings
- Lazada Group
- Nike
- Sephora
- Seven & I Holdings
- Tesco
- The Mall Group
- WearYouwant
For more information visit http://www.researchandmarkets.com/research/9m52xl/thailand_retail
