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 income also increases, hence Thais are spending more on experiences. Thais are more brand loyal compared to the region. Internet user penetration is at 65%, and e-commerce is growing even 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