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Slower Growth Reflects Weak Consumer Sentiment as Retail E-Commerce Gains Traction
Retail in Thailand witnessed moderate value growth in 2025, as sales increased by 3% to THB4,620 billion. Performance lagged behind other retail markets in the Asia-Pacific region, due to weaker domestic demand and the slower recovery of inbound tourism in Thailand. Despite subdued GDP growth of 2% and softening consumer confidence, retail remains attractive for operators able to capitalise on high levels of consumer expenditure and the rapid adoption of digital-first, fulfilment-led models. Leading retailers reshaped convenience and discovery through same-day delivery, app-based promotions, and creator-driven social commerce, whilst Chinese platforms set new price benchmarks.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Thailand report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Thailand?
- Which are the leading retailers in Retail in Thailand?
- How are products distributed in Retail in Thailand?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Thailand?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Thailand
Slower Growth Reflects Weak Consumer Sentiment as Retail E-Commerce Gains Traction
Key Data Insights
Chart 1 Key Industry Trends for Retail
Slower Growth Reflects Weak Consumer Sentiment as Retail E-Commerce Gains Traction
Retail Convenience Is Redefined by Rapid Fulfillment and Digital Touchpoints
Tiktok Shop and Temu Disrupt through Social Commerce and Price Competition
Chart 2 Temu launches Digital Mall in Thailand
Chart 3 Value Sales 2020-2030
Chinese Sellers Set New Price Standards as Discounters and Premium Outlets Widen the Gap
Retail Chains Leverage Micro-Fulfilment and Social Commerce to Outpace Traditional Formats
Chart 4 Forecast Value Sales 2020-2030
Chart 5 Forecast Value Sales by Category 2025-2030
Chart 6 Analyst Insight for Retail
Cp All Pcl?Leverages Its Broad Network and Digital Delivery to Hold Leadership
Temu and Central Park Transform Retail Experience and Consumer Expectations
Chart 7 Central Park Bangkok debuts in 2025, setting new benchmark for immersive ecosystems
Chart 8 Company Shares 2025
Chart 9 Brand Shares 2025
Informal Retail
Opening Hours for Physical Retail
Summary 1 Standard Opening Hours by Channel Type 2025
Seasonality
Payday shopping
Mid-year and year-end sales
Back-to-School
Valentine’s Day
Thai Mother’s Day
Thai Father’s Day
Chart 10 Economic Context for Retail
Chart 11 Real Gdp Growth 2020-2030
Chart 12 Inflation 2020-2030
Chart 13 Consumer Context for Retail
Chart 14 Population 2020-2030
Chart 15 Population by Generation 2025
Convenience Retailers in Thailand
Key Data Insights
Cp All Expands Omnichannel Reach as Shoppers Prioritise Speed and Access
Chart 16 Key Industry Trends for Convenience Retailers
Cp All Expands Omnichannel Reach as Shoppers Prioritise Speed and Access
7-Eleven and Cp All Redefine Retail Convenience in Thailand
Chart 17 CP All’s Omnichannel 7-Eleven Ecosystem Sets the New Benchmark for Retail Convenience
Players Reconceptualise Physical Space with Café-Led Store Formats
Chart 18 Value Sales 2020-2030
Chart 19 Value Sales by Category 2025
Convenience Stores Displace Neighbourhood Grocers as Consumer Needs Evolve
Store Format Innovation and Urbanisation Drive the Shift to Convenience Retailing
Chart 20 Forecast Value Sales 2020-2030
Chart 21 Forecast Value Sales by Category 2025-2030
Chart 22 Analyst Insight for Convenience Retailers
7-Eleven’S Dominance Continues as Cj More Accelerates Outlet Expansion
Chart 23 Company Shares 2025
Chart 24 Brand Shares 2025
Chart 25 Economic Context for Convenience Retailers
Chart 26 Real Gdp Growth 2020-2030
Chart 27 Inflation 2020-2030
Chart 28 Consumer Context for Convenience Retailers
Chart 29 Population 2020-2030
Chart 30 Population by Generation 2025
Supermarkets in Thailand
Key Data Insights
Lotus’S and Tops Market Reshape Shopper Choice as Smaller Formats Gain Relevance
Chart 31 Key Industry Trends for Supermarkets
Lotus’S and Tops Market Reshape Shopper Choice as Smaller Formats Gain Relevance
Tops Fine Food Attracts Affluent Shoppers as Value and Premium Trends Diverge
Chart 32 Tops Fine Food expands premium supermarket formats in Bangkok
Players Elevate Digital Convenience to Keep Pace with Changing Demands
Chart 33 Value Sales 2020-2030
Affluent Shoppers Drive the Development of Premium Supermarkets as Everyday Shopping Trips Become Localised
Retailers Invest in Omni-Channel Tools as Further Polarisation Is Anticipated
Chart 34 Forecast Value Sales 2020-2030
Chart 35 Analyst Insight for Supermarkets
Tops Market Consolidates Leadership as Villa Market Expands in Affluent Urban Zones
Chart 36 Company Shares 2025
Chart 37 Brand Shares 2025
Chart 38 Economic Context for Supermarkets
Chart 39 Real Gdp Growth 2020-2030
Chart 40 Inflation 2020-2030
Chart 41 Consumer Context for Supermarkets
Chart 42 Population 2020-2030
Chart 43 Population by Generation 2025
Hypermarkets in Thailand
Key Data Insights
Big C and Lotus’S Prioritise Operational Efficiency as Footfall Stagnates
Chart 44 Key Industry Trends for Hypermarkets
Big C and Lotus’S Prioritise Operational Efficiency as Footfall Stagnates
Hypermarkets Lean on Omni-Channel Convenience-Led Services to Attract Shoppers
Chart 45 Big C enhances omnichannel services to modernise hypermarket experience
Big C Drives Footfall with Deep Discounts and Subsidy-Linked Promotions
Chart 46 Value Sales 2020-2030
Hypermarkets Face Challenges as Everyday Shopping Trips Decline
Big C and Lotus’S Pivot to Mission-Specific and Premium Experiences
Chart 47 Forecast Value Sales 2020-2030
Chart 48 Analyst Insight for Hypermarkets
Lotus’S Leverages Integration and Omnichannel to Defend Share Lead
Tops Plaza Format Resonates with Affluent Households
Chart 49 Company Shares 2025
Chart 50 Brand Shares 2025
Chart 51 Economic Context for Hypermarkets
Chart 52 Real Gdp Growth 2020-2030
Chart 53 Inflation 2020-2030
Chart 54 Consumer Context for Hypermarkets
Chart 55 Population 2020-2030
Chart 56 Population by Generation 2025
Small Local Grocers in Thailand
Key Data Insights
Convenience Store Expansion Erodes Traditional Neighbourhood Store Relevance
Convenience Store Expansion Erodes Traditional Neighbourhood Store Relevance
Critical Presence in Rural and Suburban Communities
Chart 57 Value Sales 2020-2030
7-Eleven and Cj More Expansion to Drive Shift Away From Neighbourhood Stores in Urban Areas
Grabmart and Foodpanda Partnerships Help Small Local Grocers Maintain Relevance among Digital-First Shoppers
Chart 58 Forecast Value Sales 2020-2030
Chart 59 Economic Context for Small Local Grocers
Chart 60 Real Gdp Growth 2020-2030
Chart 61 Inflation 2020-2030
Chart 62 Consumer Context for Small Local Grocers
Chart 63 Population 2020-2030
Chart 64 Population by Generation 2025
General Merchandise Stores in Thailand
Key Data Insights
Tourist Spending and Value-Driven Retail Sustain Outlet Growth
Chart 65 Key Industry Trends for General Merchandise Stores
Tourist Spending and Value-Driven Retail Sustain Outlet Growth
Moshi Moshi Leverages Value-Based Shopping to Capture Younger Demographics
Chart 66 Moshi Moshi expands trend-led lifestyle product range
Miniso Transforms Physical Space to Drive Footfall and Engagement
Chart 67 Value Sales 2020-2030
Chart 68 Value Sales by Category 2025
Variety Stores Accelerate Expansion as Discovery Shopping Appeals to Gen Z
Department Stores Adapt Product Range as Subdued Tourism Outlook Stifles Growth
Retailers Leverage Digital Engagement and Sustainability to Drive Loyalty
Chart 69 Forecast Value Sales 2020-2030
Chart 70 Forecast Value Sales by Category 2025-2030
Central Retail Corp Reinforces Dominance as Variety Chains Gain Ground
Chart 71 Analyst Insight for General Merchandise Stores
Chart 72 Company Shares 2025
Chart 73 Brand Shares 2025
Chart 74 Economic Context for General Merchandise Stores
Chart 75 Real Gdp Growth 2020-2030
Chart 76 Inflation 2020-2030
Chart 77 Consumer Context for General Merchandise Stores
Chart 78 Population 2020-2030
Chart 79 Population by Generation 2025
Apparel and Footwear Specialists in Thailand
Key Data Insights
Slower Value Growth Reflects Challenges as Players Show Resilience
Chart 80 Key Industry Trends for Apparel and Footwear Specialists
Slower Value Growth Reflects Challenges as Players Show Resilience
Chart 81 Bata leverages an e-commerce strategy
Bata Leverages E-Commerce to Reach Digital-First Shoppers
Jaspal Converts Social Engagement into Sales with Creator Partnerships
Chart 82 Value Sales 2020-2030
Local Retailers Capture Demand by Focusing on Affordability and Convenience
Non-Specialists and E-Commerce Disrupt Traditional Retail, Driving Need for Differentiation
Hybrid Retail Models and Convenience-Led Shopping Reshape Consumer Expectations
Chart 83 Forecast Value Sales 2020-2030
Uniqlo Consolidates Its Lead as Rivals Face Pressure
Chart 84 Analyst Insight for Apparel and Footwear Specialists
Mothercare Faces Pressure From the Digital Retail Shift
Chart 85 Company Shares 2025
Chart 86 Brand Shares 2025
Chart 87 Economic Context for Apparel and Footwear Specialists
Chart 88 Real Gdp Growth 2020-2030
Chart 89 Inflation 2020-2030
Chart 90 Consumer Context for Apparel and Footwear Specialists
Chart 91 Population 2020-2030
Chart 92 Population by Generation 2025
Appliances and Electronics Specialists in Thailand
Key Data Insights
Retailers Respond to Weaker Demand with Aggressive Promotions
Chart 93 Key Industry Trends for Appliances and Electronics Specialists
Retailers Respond to Weaker Demand with Aggressive Promotions
Studio7 Captures Premium Digital Demand as Apple Ecosystem Expands
Chart 94 Studio7 expands its Apple ecosystem footprint as digital lifestyles accelerate
Social Commerce Leveraged by Retailers to Target Digital Natives
Chart 95 Value Sales 2020-2030
Retailers Expand Urban Formats to Drive Value Growth
Livestreaming and Platform Financing Accelerate Online Conversion and Challenge Store Loyalty
Chart 96 Forecast Value Sales 2020-2030
Chart 97 Analyst Insight for Appliances and Electronics Specialists
Studio7 Leverages Store Expansions and Apple Products to Widen Its Overall Lead
Chart 98 Company Shares 2025
Chart 99 Brand Shares 2025
Chart 100 Economic Context for Appliances and Electronics Specialists
Chart 101 Real Gdp Growth 2020-2030
Chart 102 Inflation 2020-2030
Chart 103 Consumer Context for Appliances and Electronics Specialists
Chart 104 Population 2020-2030
Chart 105 Population by Generation 2025
Home Products Specialists in Thailand
Key Data Insights
Muted Performance Amid Economic Uncertainty and Weak Discretionary Demand
Chart 106 Key Industry Trends for Home Products Specialists
Muted Performance Amid Economic Uncertainty and Weak Discretionary Demand
Ikea and Homepro Drive Digital-First Shopping with New Store Concepts
Chart 107 Ikea leverages e-commerce to tailor to the needs of the Thai consumers
Chart 108 Value Sales 2020-2030
Chart 109 Value Sales by Category 2025
Homepro and Ikea Expand into Rural Areas as Urbanisation Drives Outlet Growth
Premiumisation and E-Commerce Reshape the Competitive Landscape
Pet Shops Outpace Other Channels as Humanisation Fuels Sustained Growth
Chart 110 Forecast Value Sales 2020-2030
Chart 111 Forecast Value Sales by Category 2025-2030
Homepro Expands Multi-Format Reach to Widen Sales Lead
Chart 112 Analyst Insight for Home Products Specialists
Thaiwatsadu Solidifies Its Second Position
Pet Us Captures Rising Pet Ownership with Specialised Retail Experiences
Chart 113 Company Shares 2025
Chart 114 Brand Shares 2025
Chart 115 Economic Context for Home Products Specialists
Chart 116 Real Gdp Growth 2020-2030
Chart 117 Inflation 2020-2030
Chart 118 Consumer Context for Home Products Specialists
Chart 119 Population 2020-2030
Chart 120 Population by Generation 2025
Health and Beauty Specialists in Thailand
Key Data Insights
Boots Attracts Price-Conscious Shoppers with Aggressive Discounting and Digital Campaigns
Chart 121 Key Industry Trends for Health and Beauty Specialists
Boots Attracts Price-Conscious Shoppers with Aggressive Discounting and Digital Campaigns
Chart 122 Boots Thailand drives strong shopper traffic
Health and Personal Care Stores Sustain Leadership through Affordability and Accessibility
Eveandboy Drives Sales with Creator-Driven Social Commerce and Viral Launches
Chart 123 Value Sales 2020-2030
Chart 124 Value Sales by Category 2025
Eveandboy Drives Premiumisation and Social Commerce among Younger Shoppers
Watsons Sustains Leadership through Affordability as Beauty Specialists Accelerate Fastest Growth
Chart 125 Forecast Value Sales 2020-2030
Chart 126 Forecast Value Sales by Category 2025-2030
Chart 127 Analyst Insight for Health and Beauty Specialists
Watsons Leverages Loyalty and Omnichannel to Widen Its Lead
Beautrium Captures Fastest Growth through Exclusive Launches and Omnichannel Agility
Chart 128 Company Shares 2025
Chart 129 Brand Shares 2025
Chart 130 Economic Context for Health and Beauty Specialists
Chart 131 Real Gdp Growth 2020-2030
Chart 132 Inflation 2020-2030
Chart 133 Consumer Context for Health and Beauty Specialists
Chart 134 Population 2020-2030
Chart 135 Population by Generation 2025
Vending in Thailand
Key Data Insights
Urban Consumers Embrace Seamless Payment and Product Variety
Urban Consumers Embrace Seamless Payment and Product Variety
Chart 136 Value Sales 2020-2030
Chart 137 Value Sales by Category 2025
Vending Plus Expands Product Range to Capture Urban Demand
Dynamic Pricing and Digital Integration Reshape Consumer Interaction
Chart 138 Forecast Value Sales 2020-2030
Chart 139 Forecast Value Sales by Category 2025-2030
Chart 140 Analyst Insight for Vending
Sun Vending Technology Pcl Cedes Ground as Forth Vending Co Ltd Advances
Chart 141 Company Shares 2025
Chart 142 Brand Shares 2025
Chart 143 Economic Context for Vending
Chart 144 Real Gdp Growth 2020-2030
Chart 145 Inflation 2020-2030
Chart 146 Consumer Context for Vending
Chart 147 Population 2020-2030
Chart 148 Population by Generation 2025
Direct Selling in Thailand
Key Data Insights
E-Commerce and Social Commerce Pose Ongoing Challenges for Direct Selling
Chart 149 Key Industry Trends for Direct Selling
E-Commerce and Social Commerce Pose Ongoing Challenges for Direct Selling
Health and Beauty Remain a Core Product in Direct Selling
Personalised Engagement Boosts Loyalty, but Cannot Reverse Digital Migration
Chart 150 Amway's Nutrilite promotes personalised assessments to compete with other channels
Chart 151 Value Sales 2020-2030
Chart 152 Value Sales by Category 2025
Direct Selling Faces Ongoing Competitive Pressures
Health and Beauty Expand through Wellness Innovation and Digital Engagement
Digitalisation and Social Commerce Are Critical to Engaging Consumers
Chart 153 Forecast Value Sales 2020-2030
Chart 154 Forecast Value Sales by Category 2025-2030
Amway Adapts Digital Strategies as Competitors Chase Younger Buyers
Chart 155 Analyst Insight for Direct Selling
Chart 156 Company Shares 2025
Chart 157 Brand Shares 2025
Chart 158 Economic Context for Direct Selling
Chart 159 Real Gdp Growth 2020-2030
Chart 160 Inflation 2020-2030
Chart 161 Consumer Context for Direct Selling
Chart 162 Population 2020-2030
Chart 163 Population by Generation 2025
Retail E-Commerce in Thailand
Key Data Insights
Marketplace E-Commerce Drives Growth as Creators Reshape Online Shopping
Chart 164 Key Industry Trends for Retail E-Commerce
Marketplace E-Commerce Drives Growth as Creators Reshape Online Shopping
Makro Accelerates Omnichannel Fulfilment to Capture Sme Loyalty
Chart 165 Makro expands omnichannel fulfilment with branch-level delivery
Tiktok Shop Empowers Creators to Drive Instant Purchases and Brand Growth
Chart 166 Value Sales 2020-2030
Chart 167 Value Sales by Category 2025
Influencers Drive Affiliate Commerce as Brands Shift to Social Platforms
Brand-Owned Apps and Logistics Innovation Reshape Consumer Expectations
Specialised Platforms and Creator-Led Selling Reshape Competitive Dynamics
Chart 168 Forecast Value Sales 2020-2030
Chart 169 Forecast Value Sales by Category 2025-2030
Shopee Marketplace Leverages Price and Logistics to Hold the Leading Position
Chart 170 Analyst Insight for Retail E-Commerce
Temu Marketplace Makes Its Mark on Thailand's E-Commerce Landscape
Grocery Retail E-Commerce Players Capture Incremental Share
Chart 171 Company Shares 2025
Chart 172 Brand Shares 2025
Chart 173 Economic Context for Retail E-Commerce
Chart 174 Real Gdp Growth 2020-2030
Chart 175 Inflation 2020-2030
Chart 176 Consumer Context for Retail E-Commerce
Chart 177 Population 2020-2030
Chart 178 Population by Generation 2025
Country Reports Disclaimer
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, wholesale sales (e.g. Cash and Carry), and sales through cannabis dispensaries in markets where cannabis is sold legally. Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitions
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