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Thailand has a population of 69 million people, out of which 49.1% are men and 50.9% are women.
The median age is 38 years, with 71.5% of people aged between 15 and 64, 9.5% over 65, and 19.3%
under 14 years old. There is a strong emphasis on familial connections in Thailand, and often several
generations will live under the same roof. However, only 9% of households consist of six people
or more, while 18% of them are one-person households, 45% of houses have two or three people,
and 28% have four or five inhabitants.
Rising incomes in the country are generating optimism in the population, and are increasing
consumer demand for a wide variety of products. With the increase in incomes, consumers -
particularly wealthier ones - have been spending more on experiences, such as eating out,
and travelling. The luxury market has also been growing in the country. Price, quality and
availability of service are the key selling factors in Thailand. However, consumers are willing
to pay more for they favourite brands, and they rarely switch brands - even if the prices
are better. Thai consumers are the most brand-conscious and brand-loyal in Southeast Asia.
They also spend more than their neighbours, which is reflected in their higher debt levels.
Moreover, consumers tend to indulge and make impulse purchases, instead of saving
their money - which is typically seen in other Southeast Asian countries. E-commerce is
growing fast, especially informal commerce - such as social media accounts that are
makeshift shops.
For more information:
https://santandertrade.com/en/portal/analyse-markets/thailand/reaching-the-consumers
Today, Thai consumers use the internet to meet various needs in their daily lives whether
it is communication, entertainment, learning new skills, discovering new information
or increasingly buying new products and services. As millions of Thais turn to Google
and YouTube to discover, find, watch and share their real needs, businesses have
the opportunity to not only understand, but also anticipate what matters to them.
The Year in Search Thailand report is a deep dive into what Thai users are looking for,
along with how, when and insights into why they’re looking for it. Here are the 5 trends.
1) Beyond the Metros
2) On-demand Economy
3) The Omnichannel Experience
4) Going Cashless
5) Conscious Consumption
For download:
https://www.sme.go.th/upload/mod_download/download-20201014114126.pdf
