The Thai electrician market grew by 14 per cent in 2024, and TikTok Shop emerged or will dominate the future

According to Priceza.com, the size of the Thai electricity market reached 1.1 trillion baht (about $32 billion) in 2024, an increase of 14 per cent over the same period and a significant increase from 980 billion baht in 2023. The market size is expected to reach 1.6 trillion baht by 2027, with a combined annual growth rate (CAGR) of about 13.33 to 15 per cent.

High Internet penetration has paved the way for the growth of Thai electricians, with data showing that, at the beginning of 2023, Thailand had 6.121 million Internet users (85.3 per cent of the population), 101.2 million mobile connections and 52.25 million social media users. Over 80 per cent of online sales are made through mobile devices, with mobile wallets accounting for 23 per cent of transactions, and the rate of mobile wallets is expected to reach 63 per cent in 2025. 76.4 per cent of Thais shop online at least once a month, while fashion (60 per cent), personal care (43.2 per cent) and food and beverages (34.6 per cent) are in the hot commodities category, and promotions significantly influence purchasing decisions.

TikTok Shop (Thailand), which earned more than 12 billion baht (approximately $350 million) in 2024, has rapidly emerged with the social utility model, 51 per cent of Thai consumers using it to buy and forecast to form a dominant platform within 1-2 years or in the market. Shopee (75 per cent usage), Lazara (67 per cent) and TikTok (51 per cent) are Thailand ‘ s most popular electric platform, with TikTok performing in the cosmetic and personal care categories.

TikTok Shop ‘ s rapid growth in the Thai electrician market has benefited from its social utility model, which combines short video and live broadcasting to attract young consumers (62 per cent of the market are aged 17-36). Fifty-one per cent of Thai consumers have used TikTok for shopping in the past month, and TikTok in the form of make-up and personal care, highlighting the incentives of celebrities (such as Bella Ranee Campen) and influencers.

TikTok’s live shopping function is a significant increase in sales. For example, the Vietnamese brand of Guno, which attracts 3,000 viewers through a live video show in TikTok, sold $79 million, a 20-fold increase in monthly revenues. A similar potential is expected to be found in TikTok, Thailand, where the Shopee live function tripled the number of sellers and multiplied sales in 2023.

According to industry observers, TikTok Shop could move beyond Shopee and Lazada in 1-2 years to become a leading market platform for Thai electricians, with their algorithm-driven content and seamless purchasing experience.