 30-Oct-18, Retail In Asia 

The Thai retail property market has changed enormously and change continues at an even faster rate especially with the growth of E-commerce. 30 years ago, the Bangkok retail property market was limited to a handful of department stores and a few typical shopping centres. The rest of the retail sector was shophouses and wet markets.

Image: Retail In Asia

There are now almost 7.5 mn sqm of modern retail property in Bangkok, split between department stores, shopping centres, big box stores and other new formats. There are now 10,268 7-Eleven stores, and Big C, Tesco Lotus and Makro have over 450 big box stores in Thailand.

The Thai retail market is facing the new challenge of e-commerce. Currently E-commerce sales account for less than 1% of total retail sales, compared with 18% in the UK and 9.5% in the US, but this is expected to grow rapidly as platforms and infrastructure, including payment systems and distribution, have now been established.

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 Consumer & Retail insights