Singapore Office
- 176 Orchard Road, The Centrepoint, #05-05, Singapore
- (+65) 6332 6888
- contact@axanteusresearch.com
- Home
- Thailand
Market Research in Thailand
Market Overview of Thailand
Economy
Over the last few decades, Thailand has advanced to become an upper-income country from a low-income country, with 2.4% GDP growth. 57% of Thailand’s GDP is contributed by the services sector, and 35% by the industrial sector. However, about one-third of the workforce is employed in the agriculture sector.
Consumers
With rising incomes, disposable incomes also increase, leading Thais to spend more on experiences. Thais are more brand loyal compared to the region.
Internet user penetration is at 65%, and e-commerce is growing rapidly. They are comfortable with buying small-ticket items online and also engage in online C2C sales.
Market Research in Thailand
There are some differences between different regions of Thailand, such as Northern and Southern Thailand. Hence, conducting fieldwork in both regions is necessary to get a more representative sample. Lower income groups might also need additional help during online interviews as they are less tech-savvy. Reaching these groups may also be more expensive and time-consuming. They speak the Thai language, and not many Thais are able to speak English fluently.
Case Studies
- The Infectious Disease Study was conducted in Thailand and Taiwan for the Healthcare industry through telephone in-depth interviews.
- The Dating Apps Study was conducted in Thailand, India, Indonesia, Taiwan, and Germany for the IT industry through face-to-face in-depth interviews.
- EMS Procurement Study was conducted in Malaysia, Singapore, Thailand, and Vietnam for the EMS industry via in-depth interviews.
Axanteus Research – Transforming Data into Insights
Delivering insightful market research and analytics, Axanteus Research helps businesses worldwide make informed decisions with precision and efficiency.