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Industry Outlook Analysis

16 Mar 2023


Cyber threats may cause consumers to purchase goods via B2C e-commerce with extra caution (Current Issue No.3389)

Cyber threats may cause consumers to purchase goods via B2C e-commerce with extra caution... Read more

28 Dec 2022


Retail business in 2023 … Growth continues amid numerous challenges (Current Issue No.3377)

KResearch views that retail sales in 2023 will see continual growth in line with economic conditions and consumer purchasing power. However, multiple challenges may persist. In 2023, the retail market is expected to expand by 2.8-3.6 percent YoY, thanks to the return of foreign tourists, rising prod... Read more

16 Dec 2022


Food delivery business in 2023 may decline: Maintenance of sales turnover is a challenge (Current Issue No.3371)

Thailand’s food delivery market is expected to see a slowdown due to increased economic activity and lifestyle changes that are seeing many more consumers return to dine-in and takeaway options. KResearch projects that market value of food delivery business going forward will be static or drop when ... Read more

16 Nov 2022


B2C e-commerce in 2022-2023…Growth decelerates due to limited purchasing power (Current Issue No. 3361)

KResearch views that market value of B2C e-commerce in 2022-2023 will grow at a slower pace after reaching double-digit growth during COVID-19. In 2023, the market is expected to expand at around 4-6 percent – the lowest when compared to its average growth of 26 percent per year over the past three ... Read more

25 Oct 2022


Turnover of restaurant business to grow in 2022-2023 amid the challenges of operating costs and profitability maintenance (Current Issue No.3352)

The restaurant industry is expected to revive going forward, driven by Thailand’s economic activity that has gradually returned to normal, along with recovery in the tourism sector. The number of Thai and foreign tourists which is on the rise, especially amid an expected surge in international touri... Read more

14 Sep 2022


Convenience stores, 2022-2023: Recovering after COVID-19 … Maintaining steady sales growth amid intense competition needed (Current Issue No.3344)

The convenience store is another retail segment that has been affected by the COVID-19 pandemic over the past 1-2 years. In 2022, we at KResearch, however, expect that turnover in the convenience store business will resume growth of roughly 13-15 percent YoY, thanks to the low base of 2021.... Read more

22 Jul 2022


Nursing home business, 2022: Turnover to reach only THB12.7 billion (Current Issue No.3335)

Although consumer purchasing power is being pressured by the high cost of living and uncertainties surrounding COVID-19, the nursing home business may continue to perform relatively well during 2022 as it is one of the healthcare services that are necessary for many seniors/patients. Additionally, t... Read more

21 Jul 2022


Last-mile delivery business, 2022: Growing slower than in 2021 due to numerous challenges (Current Issue No.3332)

Last-mile delivery business, 2022: Growing slower than in 2021 due to numerous challenges... Read more

22 Jun 2022


Food delivery business set to face more challenges from sagging demand and high energy costs after COVID-19 has eased (Current Issue No.3326)

Food delivery business set to face more challenges from sagging demand and high energy costs after COVID-19 has eased (Current Issue No.3326)... Read more

21 Mar 2022


Service indicators show signs of a slowdown in early 2022, posing a challenge to food delivery businesses (Current Issue No.3313)

Food delivery operators will tend to benefit from consumer behaviors during this period of high COVID-19 infections, wherein many businesses are still using a hybrid work model. At the same time, platform operators and restaurants continue to launch marketing campaigns and offer promotions to boost ... Read more

1 Mar 2022


B2C e-commerce (for products only) set to expand 13.5 percent in 2022, taking market share from on-premise purchases, especially of food and personal care products (Current Issue No.3309)

KResearch views that inflation, rising living costs, uncertainty surrounding COVID-19, and impacts from the potentially prolonged unrest in Ukraine will continue to affect the economy and consumers’ purchasing power. B2C e-commerce (for products only) may grow by around 13.5 percent or approximately... Read more

28 Feb 2022


B2C Cold-Chain Logistics Business, 2022: Growing 15-20% amid Increased Costs and Competition (Current Issue No.3308)

We at, KResearch, expect that turnover in the cold-chain logistics business that penetrates the B2C segment will reach approximately THB2.9-3.0 billion in 2022, an increase of 15-20 percent (YoY), down from the 40-45 percent (YoY) growth projected for 2021. The decline is due partly to the high base... Read more

5 Jan 2022


Restaurant business 2022: Growth expected at 5.0 – 9.9 percent, Omicron variant and cost of ingredients remain major challenges (Current Issue No.3299)

Restaurant business 2022: Growth expected at 5.0 – 9.9 percent, Omicron variant and cost of ingredients remain major challenges... Read more

8 Dec 2021


Food Delivery, 2022: Growing Steadily as Application Service Providers Penetrate Upcountry to Expand New Customer Base (Current Issue No.3289)

The COVID-19 pandemic, lockdown restrictions on the restaurant business, work-from-home policies, the fact that consumers have become more familiar with food delivery applications, and the government’s co-payment program will likely cause turnover in the food delivery business (a new base, which inc... Read more

3 Nov 2021


Full-Service Restaurant Business Set to Resume Growth of 26.5% in 2022, Thanks to Relaxation of Lockdown Measures (Current Issue No.3283

During 4Q21, the full-service restaurant business is being supported by two factors as part of the government’s relaxation of various lockdown restrictions. They are the lifting of curfew in pilot tourist destinations under its reopening plan, and permission for restaurants to serve alcoholic bevera... Read more

15 Oct 2021


Retail sales in 4Q21 signals post-lockdown recovery amid cautious spending (Current Issue No.3278)

KResearch views that the COVID-19 situation and vaccine accessibility have improved to the point that the government has eased many lockdown measures, allowing more economic activities to resume operations in the final quarter of 2021. Since many businesses are expected to launch campaigns to boost ... Read more

8 Oct 2021


Private hospitals 2021 likely to see revenue recover from low base though cost management and intense competition continue to affect business (Current Issue No.3277)

KResearch projects that the revenue of private hospitals in 2021 will grow 11.8 percent YoY, as opposed to 2020 which saw a contraction of 12.5 percent. Such recovery can partly be attributed to the low base of the previous year while revenue remains below pre-COVID-19 levels. Most of private hospit... Read more

14 Sep 2021


B2C e-commerce (for products only) set to surge over 30% in 2021; online merchants face challenges from diminished purchasing power and tougher competition (Current Issue No.3268)

KResearch projects that the 2021 B2C e-commerce (for products only) will likely expand 30 percent YoY, with an estimated value of THB 300 billion. Its growth is mainly attributed to the COVID-19 pandemic which has altered consumer behaviors including the number of buyers and product diversity. At th... Read more

8 Sep 2021


Impact of E-Service Tax on Users of Foreign Digital Service Platforms (Current Issue No.3266)

As Thailand is transitioning towards a digital economy amid the increasing role of technologies in the business sector and our everyday life, including trading, entering into business agreements, and conducting financial transactions via digital platforms at home and abroad, plus the fact that such ... Read more

1 Sep 2021


Home Health Services: Option during COVID-19…2021 Turnover Projected to Reach at Least THB2.2 Billion (Current Issue No.3260)

ศูนย์วิจัยกสิกรไทย ประเมินว่า ศูนย์วิจัยกสิกรไทย ประเมินว่า ในปี 2564 มูลค่าการใช้จ่ายสำหรับบริการทางการแพทย์ที่บ้านของไทย จะอยู่ที่ 2,200 – 2,300 ล้านบาท เติบโตได้เล็กน้อยที่ 2.4% (YoY) แม้ว่าตลาดจะเติบโตได้จากการเพิ่มขึ้นของผู้ให้บริการ ประเภทการบริการที่หลากหลายขึ้น รวมทั้งสถานการณ์โควิด-19 ที่ทำ... Read more

19 Aug 2021


COVID-19 and outbreak control measures spur growth of food delivery market at 18.4 – 24.4 percent in 2021 (Current Issue No.3256)

Amid heightened COVID-19 control measures, food delivery service has become the primary income channel for restaurants. Marketing via online food delivery platforms, including promotional discounts and delivery fee waivers for restaurateurs, has also helped to attract new customers and increase orde... Read more

6 Aug 2021


Elderly assistive devices market to reach THB 8 billion in 2021… consistent with Thailand’s trend towards an aged society (Current Issue No.3252)

KResearch projects that the value of medical equipment and assistive devices for the elderly in Thailand will amount to a range of THB8-9 billion in 2021, and register an compound annual growth rate (CAGR) of 7.8 percent over the next five years as Thailand is approaching an aged society status. The... Read more

27 Jul 2021


Private hospitals reliant on medical tourism to encounter difficulty in 2021-2022 amid ongoing COVID-19 outbreak (Current Issue No.3248)

Private hospitals are one of the businesses that have been severely affected by the COVID-19 outbreaks, especially private hospitals that are normally reliant on revenue from foreign patients through medical tourism. Like regular international travelers, medical tourists are presently unable to trav... Read more

14 Jul 2021


Growth potential for health tech in Thailand amid rising demand for health services (Current Issue No.3243)

In KResearch’s view, spending on health tech in Thailand remains modest, at around THB 300-400 million in 2021. However, the COVID-19 pandemic has quickly elevated the role of technology in health services as it helps to reduce risk and provides greater convenience to patients. Moreover, Thailand’s ... Read more

5 Jul 2021


Restaurant business 2021 likely to suffer THB 55 - 70 billion in lost revenue compared to previous year amid rampant COVID-19 outbreak (Current Issue No.3237)

With the recent wave of COVID-19 in Thailand, the number of daily cases has surged in many areas, particularly the Bangkok Metropolitan Region (BMR), which is categorized as a zone of maximum and strict COVID-19 control. This development has prompted the government to raise COVID-19 control and prev... Read more