[Cross-border Southeast'Xing'] Thailand's live streaming e-commerce grabs 38% share

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'The status of live streaming e-commerce in Thailand is becoming increasingly stable.'

Produced | Cross-border Pro Author | Lao Luo

Accounting for 38% of e-commerce value

In recent years, Thailand’s e-commerce market has experienced a stage of rapid development and has now become an important part of the e-commerce field in Southeast Asia and even the world.In this market, live streaming e-commerce is a force that cannot be ignored.Recently, Kulthirath Pakawachkrilers, chairman of the Thai E-Commerce Association, said that live streaming e-commerce accounts for 38% of Thailand’s social media market value.At the same time, the Thailand E-Commerce Association also predicts that the commercial value of domestic live broadcasting will reach 121 billion baht by 2025.

The value of live streaming e-commerce will reach 121 billion baht in 2025

Source: bangkokpost

It is worth mentioning that the benefits brought by the growth of live broadcast e-commerce value do not end there.According to the 2023 World Digital Competitiveness Ranking released by the Institute for Management Development (IMD), Thailand ranks 35th among 64 economies, an increase of 5 places compared to the previous year. This is also Thailand's best performance since 2019. once.

Thailand ranks 35th

Source: bangkokpost

In fact, as early as January this year, industry expert Thanawat Malabuppha said that the value of Thailand's e-commerce market is expected to grow by 8% to 13% this year, with live e-commerce and cross-border e-commerce expected to achieve significant growth.

Live streaming e-commerce explodes

Frankly speaking, live streaming e-commerce has passed the stage of rapid growth in China and has gradually entered a state of stable development. However, in many overseas e-commerce markets, the form of live streaming is still very new and has only started to emerge in the past two years.

From a platform perspective, Shopee has also made considerable profits from the live broadcast model in the past two years.Recently, Shopee Malaysia announced that sales generated through live streaming events and affiliate marketing will once again break records in 2023.Specifically, for sellers with sales exceeding RM500,000 this year, live streaming orders account for 10% to 40% of their total platform orders.In the previous Double 11, Shopee Live's cross-border live broadcast also achieved good results, with cumulative views reaching 6.7 billion, and order volume soaring to 39 times the usual number.

Shopee Double 11 record

Image source: Shopee

Shopee Malaysia marketing director Kenneth Soh also said that now, Shopee platform sellers are more interested in live streaming shopping and affiliate marketing to increase sales.But then again, the more popular the live broadcast e-commerce model becomes, the more platform and industry supervision is needed.It is worth noting that in October this year, Shopee Philippines issued a notice on regulating live streaming e-commerce behavior. While implementing live streaming e-commerce standards, it called on sellers to actively comply. Sellers who seriously violate Shopee’s live streaming standards will be Being punished by means of current restrictions and broadcast bans.It is foreseeable that the live streaming e-commerce model will be favored by more consumers, and its value will also increase. However, in the process of rapid development, it is not necessary to forget to abide by relevant rules. Only compliant and reasonable development , only then will you have a better chance of reaching higher places.