Retail sector in Thailand - statistics & facts
Despite the current economic slowdown, Thailand has one of the largest economies in Southeast Asia. With a population of approximately 70 million as of 2024, Thailand’s streets, especially in Bangkok, are full of prosperous local businesses and well-known modern retailers. Thailand’s retail industry is constantly growing and evolving to respond to the demand from consumers, where convenience seems to be the key.
Thailand's retail industry remains vibrant and resilient, balancing traditional marketplaces with modern retail and thriving e-commerce. Driven by consumer demand for convenience, prominent businesses such as Central Group and CP All continue to lead and innovate, altering the country's retail landscape.
Major retail segments in Thailand
In many communities, traditional markets remain the go-to places for local products, fresh produce, and street food among Thai consumers, despite disruptions from modern retailers and online shops. Modern retailers in Thailand include provision stores, convenience stores, supermarkets, hypermarkets, discount markets, and shopping malls, with provision stores the leading sales channel for FMCG products. Convenience stores can be spotted on almost every street corner in Bangkok, alongside the progressive construction of shopping malls around the country. With nearly one-third of the population being e-commerce users, e-commerce platforms have continued to grow in popularity among both sellers and buyers of consumer goods in Thailand. The rise in online shopping stemmed from the restrictions to brick-and-mortar retailing during the coronavirus pandemic. Given the fast delivery options and discount coupons, shopping on e-commerce sites has become a phenomenon among Thai consumers.Key players in the retail sector in Thailand
The retail sector in Thailand is highly competitive, with numerous companies contending for a piece of the market. The biggest players in Thailand’s retail sector are Central Group and CP All, where Central Group leads among medium to large-scale retailers and CP-All dominates the small-scale. However, their businesses go beyond retail. Founded in 1947, the family-owned conglomerate, Central Group, has a retail and service presence across the globe. Its business also branches into brand management, hospitality, and property development, with its recent acquisitions including Globus, KaDeWe, and Selfridges. In Thailand, the company operates a range of retail outlets, from department stores to convenience stores. This includes Tops supermarkets, Robinson, OfficeMate, and Central department stores. Meanwhile, CP All is a retail leg of Charoen Pokphand Group, a Thai conglomerate well-known in the food sector. CP All operates the 7-Eleven chain in Thailand. In 2023, the number of 7-Eleven outlets in Thailand amounted to over 14,500, the highest and farthest ahead among convenience outlets. This was followed by Lotus’s go fresh, also owned by the CP Group.Thailand's retail industry remains vibrant and resilient, balancing traditional marketplaces with modern retail and thriving e-commerce. Driven by consumer demand for convenience, prominent businesses such as Central Group and CP All continue to lead and innovate, altering the country's retail landscape.
