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Market Research in Thailand

Market Overview of Thailand

Thailand has a population of about 70 million people, and is one of the most visited countries in the world. Thailand is also known as the Land of Smiles, and is the only country in Southeast Asia to never have been colonized by a European power. It is currently run by a constitutional monarchy.

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.

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