Today, Thailand retail market size nationwide almost tops 8 million square meters, mainly pre-dominated by Bangkok up to 7 million square meters. This does not yet include almost 1.5-2 million square meters new retail space now under construction throughout the country to be added in over the next few years, bringing total retail supply by 2018 close to 10 million square meters.The key players are large scale shopping centres, community malls, modern trade (wholesale and discount stores), specialty shops, convenience stores and franchise business.
Thailand’s retail business continues to grow alongside with its economic expansion, higher income and purchasing power of middle income group. Thanks also to the booming international tourist arrivals likely to top 28 million this year which significantly contribute to the country’s retail growth.
More and more international brands, both franchise food and fashion, are entering Thailand to tap the flourishing economy and its geographic location as gateway to 10-nation ASEAN which will be unified a one single market in late 2015 with a combined population of well over 650 million.
As such, huge potentials lie ahead for increased supply demand for more retail openings in all sectors for many years to come.Total retail supply in Thailand by type