Thailand is among the few countries globally that have been successful in combating COVID-19
According to GlobalData, e-commerce in Thailand is registering a compound annual growth rate of 12.2% between 2016 and 2020 to reach 1.1 trillion baht in 2020.
The report states that a large young population, Internet and smartphone penetration, coupled with growing consumer confidence in online payments drive this growth.
Amid the pandemic, online shopping turned into a new normal in Thailand. The value of e-commerce transactions is forecasted to rise at 14.8% in 2020, the highest since 2017.
We’ve reported that as long as job losses reduce incomes and stress household finances, consumer demand will keep weakening, further destroying workplaces. As a result, those losses will affect personal finances and limit spending intentions.