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Foreign e-commerce giants to dominate Thailand’s market in 2024

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An e-commerce chief predicts that foreign operators will continue to control Thailand’s e-commerce landscape, with live commerce and affiliate marketing becoming increasingly prevalent in the next year. Overcoming the nation’s digital trade deficit continues to be a challenge as international companies lead in sales, delivery, and advertising.

The value of Thailand’s e-commerce market is slated to surge to an impressive 700 billion baht in next year, an increase from the projected 634 billion in this year. This growth is attributed to the increasing number of online shoppers and a rise in average spending per consumer.

As of this year, there were 41.5 million online shoppers each spending an average of 8,840 baht. This is a significant rise from 2019’s 30.2 million shoppers who were spending an average of 2,970 baht.

E-commerce competition is anticipated to grow fiercer next year. Creden Data reports that Lazada Group earned a profit of 3.2 billion baht from revenue of 38 billion baht in 2022, while the Sea Group, which includes Shopee, recorded a revenue of 55.6 billion baht with a profit of 2.5 billion.

The delivery sector is also set for heightened competition, which could potentially result in losses for the majority of players. Last year, out of nine operators, only Shopee Express, Lazada Express, and J&T posted profits. The profitability of Lazada Express and Shopee Express is largely due to their integrated parcel and delivery services on their e-marketplace platforms.

Live commerce is also predicted to gain momentum, with TikTok leading the charge and Shopee and Lazada joining in. Thailand has witnessed the highest growth in live commerce in the ASEAN region, according to a 2022 report by Meta and Bain & Company. Influenced by TikTok, which boasts 41 million users, live commerce in Thailand has grown by 10%, compared to the 8% average growth in the rest of Southeast Asia.

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Affiliate commerce is another rising trend. This online marketing strategy involves content creators promoting products to earn a commission fee when viewers click or purchase products via the sellers’ links.

Chinese products are expected to continue streaming into Thailand, although the volume of illegal products from the mainland is projected to decline. Chinese enterprises have set up warehouses in suburban areas to facilitate wholesale delivery services between China and Thailand for faster delivery.

Industry players are also leveraging live commerce strategies to boost local producers’ exports to China. Automation and artificial intelligence in e-commerce are likely to be embraced by more businesses, including online sellers.

Revenue for on-demand commerce is projected to grow next year, despite being predominantly controlled by super-apps and most players reporting losses in 2022. Only Grab managed to generate a profit in its first year. As per Creden Data, on-demand commerce revenue in 2022 surpassed 37 billion baht, reported Bangkok Post.

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Earn $680K a Year with This Wedding Industry Franchise

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Earn $680K a Year with This Wedding Industry Franchise

3 Benefits of Owning a Wed Society Franchise:

  1. Recession-resistant with a stable market due to consistent demand for wedding services.
  2. Potential for high revenue with low overhead costs and strong unit economics.
  3. Offers flexibility and control with a work-from-home model and virtual customer interactions.

Wed Society is a comprehensive franchise specializing in digital, social, print media, and event planning within the wedding industry. The franchise offers a unique niche market, providing a robust platform for wedding vendors to showcase their services and for couples to plan their weddings. Click Here to connect me with Wed Society.

Key Facts:

  • Minimum Initial Investment: $97,750 – $121,000
  • Initial Franchise Fee: $45,000
  • Liquid Capital Required: $100,000
  • Net Worth Required: $200,000
  • Veteran Incentives: $10,000 off franchise fee

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Why Taylor Swift Believes in Her Lucky Number

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Why Taylor Swift Believes in Her Lucky Number

People reports that Chiefs star Travis Kelce just attended his 13th performance of Taylor Swift‘s The Eras Tour, and the significance of that number is lost on no one.

Swift is a big fan of the number 13 — so much so that before every show she paints a 13 on her hand for good luck. Why are those digits so near and dear to her heart?

Swift was born on December 13, 1989, and explained in an interview with MTV News: “I turned 13 on Friday the 13th. My first album went gold in 13 weeks. My first No. 1 song had a 13-second intro. Every time I’ve won an award I’ve been seated in either the 13th seat, the 13th row, the 13th section or row M, which is the 13th letter. Basically, whenever a 13 comes up in my life, it’s a good thing.”

Swift isn’t the only one who leans into superstitions to give herself an extra boost of confidence. In the book Recipes for Good Luck, author Ellen Weinstein researched the superstitions and rituals of some of the most famous and successful people in modern history. And while some might seem odd or silly to others, Weinstein writes that beliefs, rituals and routines can “help you face the world with ambition and confidence and inspire you to go on making good luck of your own.”

Here are some other superstars who used pre-performance rituals to get ready to go.

  • During his playing days, NBA superstar Michael Jordan wore UNC shorts underneath his Chicago Bulls uniform. They were the same shorts he wore in 1982 when he scored the winning jump shot that brought his college team, the University of North Carolina Tar Heels, their first NCAA championship since 1957.
  • Tennis great Serena Williams has several distinctive pre-performance and on-court rituals: before a match, she’d tie her shoelaces in the exact same way and always bounced the ball five times before her first serve and twice before her second.
  • Before beginning the opening monologue of her former talk show, Ellen DeGeneres would be sure to throw a mint in the air and catch it in her mouth.
  • Rihanna has said that she doesn’t allow anything yellow in her dressing room before a show, believing it is bad luck.
  • Soccer legend David Beckham has a thing against odd numbers. His wife Victoria told The Chicago Sun-Times that their house had several refrigerators, each devoted to different types of food. “In the drinks one, everything is symmetrical,” she explained. “If there’s three cans, he’ll throw one away because it has to be an even number.”

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Barbara Corcoran Says All Good Leaders Have This 1 Quality

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Barbara Corcoran Says All Good Leaders Have This 1 Quality

Corcoran Group founder and “Shark Tank” star Barbara Corcoran knows how to run a tight ship — but she also knows when to relinquish control.

The 75-year-old real estate pioneer and entrepreneur took to Instagram on Wednesday to share advice on hiring and delegating.

Related: Barbara Corcoran: All ‘Really Successful Entrepreneurs’ Do This

First, she says, embrace your inner “control freak” — it’s part of the job.

“Anybody who’s a good boss, I’ve learned, is a control freak. It just comes with the territory, and control freaks have a heck of a hard time delegating,” Corcoran explained. “They’re the last people who want to give away what they do so perfectly.”

Corcoran says in order for your business to grow, though, it’s important to find someone who can do the job 80% as well as you can. If you find a candidate who can do that, invest in them to “build your business and move it ahead.”

Corcoran said she goes through a three-question litmus test before hiring someone to create a strong pool of employees.

Related: Barbara Corcoran Issues Statement, Warning on NAR Settlement

“I ask myself, ‘Are they happy? Do they work hard? Are they talented people in one regard or another?’ And if they are, I hire them, and I delegate something to them that’s above their pay grade, above their talent pool, so they have to reach and show me how good they are, and that’s how you develop talent,” she said.

“It’s not just a matter of delegating, it’s a matter of developing talent, and then delegating to the talent,” she added.

Corcoran’s net worth is an estimated $400 million.



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