![]() ![]() Previously, the Thai retail sector had been dominated by small, family-run grocers which obtained stock from middlemen and distributors. This puts it in second place, after the manufacturing sector which accounts for 25.3% of GDP. In 2019, the modern trade sector generated a combined value of THB2.8trn, up 7.7% from 2018 and accounting for 16.5% of GDP. Hence, businesses need to rapidly overhaul and update their playbooks if they want to continue to enjoy expanding customer and revenue bases over the long term. However, businesses will face rising competition as new players, both Thai and foreign, try to exploit growth opportunities in the domestic retail sector, and e-commerce continues to register stellar growth rates. ![]() It would also be supported by government measures to stimulate domestic consumption and greater public-sector investment, and structural changes that will include ongoing urbanization in Thailand and economic growth in neighboring countries. Over the period 2021-2023, sales from modern trade outlets are forecast to grow by an annual average of 1.5-2.5%, moving in step with the recovering economy. Construction and Construction Materials. ![]()
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