The Thai e-commerce market has been soaring, reflecting notable growth, particularly within the fashion and beauty sectors, as female consumers take center stage. Recent insights from Lazada indicate significant increases in purchases, painting a vibrant picture of the digital economy driven largely by women.
According to reports from e-Conomy SEA by Google, Temasek, and Bain & Company, the e-commerce market is projected to exceed $60 billion within the next five years, accounting for more than half the value of Thailand's digital economy. Statistics from Statista also support this projection, forecasting e-commerce revenues to reach $22.9 billion by 2025, representing an 18.8% growth from previous years.
This year, sales through e-commerce are expected to constitute one-fourth of all retail sales, signaling the sector's rapid rise. Varistha Kiattipinyocchai, CEO of Lazada Thailand, remarked, “The growth of the Thai e-commerce market is something everyone is watching. But equally interesting is the influence of female shoppers on online retail.” She emphasized the diversity of product demands pushed by this group.
Aligned with International Women’s Day celebrations, Lazada is honoring women's contributions to e-commerce, not just as buyers but as innovators driving brand development. The increasing purchasing power of female consumers is evident, as shown by projections which indicate a 21.5% growth for clothing sales to $2.53 billion and 16.1% growth for personal care products to $4.39 billion by 2025.
Diving deep, reports have highlighted the rising sales figures for women’s clothing. Between 2025 and 2029, sales are projected to increase by roughly $375.2 million, which translates to about 10.55% growth reaching approximately $3.9 billion by 2029. They also point to e-commerce as the foundational growth driver for women's clothing markets, detailing the sustained growth of online shopping preferences among Thai consumers.
Insights from various surveys indicate nearly half (47.1%) of women opt to purchase beauty products online. This shows the increasing role of digital platforms in shaping consumer behavior, coupled with the growing potential of the online market, reflects promising trajectories for continued expansion.
For example, accessories for women, particularly tote bags, recorded staggering order increases of over 2200%. Hair accessories also saw growth over 240%, with face masks and serum products witnessing sales quadrupling. This expresses the tangible shifts occurring within market dynamics largely influenced by women's shopping behavior.
Women's contributions aren't limited to consumerism; they also play pivotal roles as entrepreneurs within e-commerce. Platforms like Lazada have emerged as instrumental for young female entrepreneurs, aiding them to establish brands without considerable barriers. They can reach broader markets and more precisely target potential customer bases. This flexibility allows them to manage and grow businesses with unprecedented reach.
Successful examples abound, such as lookbooklookbook, founded by Vani Cha Triatipstars, Ink-Inkard Unngkitti, and Bo-Supach Thongchaiwat, which began as small-scale online sales on forums and has since expanded through exclusive project partnerships on Lazada, grossing over 100 million baht and winning the Lazada Top Seller 2024 Award.
Another noteworthy startup is Bitch With Brain (BWB), founded by female innovators Koi-Oratchaporn Pokinpakorn, Natti-Nanthana Thakathakul, Dream-Aphichaya Panittra, and Sai-chanikan Vallapasiri. They quickly gained recognition by launching exclusively through Lazada, creating significant reach with beauty products aligned with young women's trends, resulting in exceeding sales targets by up to 200%.
With enhanced familiarity and expectations set by online shopping, female consumers are significantly influencing the driving force of online retail innovation. Their rising expectations are pushing instant technological advancements toward seamless integration of online and offline shopping experiences, with product selections reflecting personal values.
For Lazada, developing and enhancing categories to meet varied demands remains at the forefront. With categories like LazLOOK and LazBEAUTY, they aim to satisfy diverse shopping journeys for women. Varistha concluded, "Women shoppers are not just customers; they are key drivers shaping the future of e-commerce. Their influence is transforming the online retail business and inspires new innovations. Understanding and meeting female consumers' needs, is pivotal for business and brand success today, presenting important growth opportunities in e-commerce moving forward."