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Retailing in Thailand- Market Summary and Forecasts

  • October 2016
  • -
  • GlobalData
  • -
  • 132 pages

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Summary
The Thai retail market recorded a CAGR of 3.2% over the past five years despite economy slowdown and political instability. It is expected to grow at a CAGR of 3.7% in 2015-2020 driven by increasing consumer spending, rising tourism, and a growing middle-income population. In addition, the Thai government has included boosting consumer spending among its main economic policies will support the growth retail market in the country. On the other hand, growing internet and smartphone penetration coupled with high interests among the youngsters to shop online is expected to fuel the retail sales through online channel. Rising international tourist arrivals will ensure a good platform for duty free operators. To capitalize on this opportunity duty free retailers are opening downtown duty free stores across popular tourist destinations such as Bangkok and Phuket.

Key Findings
- Thailand's silver shoppers creating new opportunities for retailers

- Food and Grocery accounts for a major share of the country's total retail sales

- Luxury mall development will attract high spending

- Rising tourist arrivals spurs retail sales growth in Thailand

- Mobile commerce to boost online retail sales in Thailand

- Thai government introduces a new e-payment system to become a cashless society

- Music, video and entertainment software is the fastest growing category

Synopsis
Retailing in Thailand- Market Summary and Forecasts, 2015-2020 provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to Thailand retail environment. In addition, it analyzes the key consumer trends influencing Thailand retail industry.

The report also offers:

- In-depth analysis of the latest trends in consumer shopping, covering the factors driving shopping, consumer insights, market dynamics (covering 26 product categories), and reviews of the latest best practice in online retail site design

- Market insights based on consumer trends, changing economic and demographic factors, technology innovations, and other macroeconomic factors

- Retail sales and fastest-growing product categories including Clothing, Footwear, Books, News and Stationery, Electrical and Electronics, Food and Grocery, Health and Beauty, Furniture and Floor Coverings, Home and Garden Products, Music, Video and Entertainment Software, Sports and Leisure Equipment, Jewelry, Watches and Accessories, and Luggage and Leather Goods

- Qualitative and quantitative insights of changing retail dynamics across various channels

Reasons To Buy
- Gain comprehensive knowledge on 26 products across 12 product sectors in Thailand retail market and develop a competitive advantage around consumer behavior trends from the start of your supply chain

- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer, and technology trends influencing the retail market

- Investigate current and forecast behavior trends in each category to identify the best opportunities to exploit

- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior

- Understand the fastest-growing categories in the market with insights on performance of individual product categories, across key channels from 2010, with forecasts until 2020

- Analysis of key international and domestic players operating in Thailand retail market - including store counts and revenues that give you a competitive edge - and identify opportunities to improve your market share

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