Thailand is no longer just a fast-growing e-commerce market. It is the market in Southeast Asia where the competitive battle between platforms has reached its most advanced stage. In H1 2026, Shopee and TikTok Shop held virtually identical shares of combined platform GMV in Thailand at 46% each. In Q2 2026, TikTok Shop edged ahead at 48% versus Shopee’s 45%. No other market in the six core markets Cube tracks has reached this level of competitive parity between the two platforms.
Cube tracks gross merchandise value (GMV) across Shopee, Lazada, and TikTok Shop in Thailand on a monthly basis, covering all major physical goods categories. This article draws directly on that data to give brands, investors, and e-commerce teams an accurate and current picture of the market.
Source: Cube Tradewinds H1 2026 dataset. All figures are estimates covering physical goods GMV on these three platforms and do not represent total e-commerce in Thailand.
How large is the Thailand e-commerce market?
Based on Cube’s Tradewinds dataset, combined GMV across Shopee, Lazada, and TikTok Shop in Thailand reached USD 30.7 billion in 2025, up 21% from USD 25.4 billion in 2024. In H1 2026, the combined total reached USD 21.3 billion, already exceeding the first half of 2025’s USD 14.1 billion by 51%.
| Platform | FY2023 | FY 2024 | FY 2025 | YoY |
|---|---|---|---|---|
|
Shopee |
USD 9.9bn |
USD 12.9bn |
USD 15.9bn |
+23% |
|
TikTok Shop |
USD 4.1bn |
USD 7.3bn |
USD 11.2bn |
+53% |
|
Lazada |
USD 6.2bn |
USD 5.2bn |
USD 3.6bn |
-31% |
|
Combined |
USD 20.2bn |
USD 25.4bn |
USD 30.7bn |
+21% |
Source: Cube Tradewinds dataset. All figures are estimates.
The growth story in H1 2026 is dominated by TikTok Shop, which grew 116% in Thailand in H1 2026 versus H1 2025, reaching USD 9.9 billion in the first half alone. That figure already exceeds TikTok Shop’s full-year 2024 GMV in Thailand of USD 7.3 billion.
Platform breakdown: where Thailand stands in H1 2026
| Period | Combined | Shopee | TikTok Shop | Lazada |
|---|---|---|---|---|
|
Q1 2025 |
USD 7.3bn |
3.7bn (50%) |
2.6bn (35%) |
1.1bn (15%) |
|
Q2 2025 |
USD 6.8bn |
3.8bn (56%) |
2.0bn (30%) |
1.0bn (14%) |
|
Q3 2025 |
USD 7.7bn |
4.1bn (54%) |
2.8bn (36%) |
0.8bn (10%) |
|
Q4 2025 |
USD 8.9bn |
4.4bn (49%) |
3.8bn (43%) |
0.7bn (8%) |
|
Q1 2026 |
USD 10.2bn |
4.9bn (48%) |
4.6bn (45%) |
0.8bn (8%) |
|
Q2 2026 |
USD 11.1bn |
4.9bn (45%) |
5.3bn (48%) |
0.8bn (7%) |
Source: Cube Tradewinds H1 2026 dataset. All figures are estimates.
The trajectory in this table tells the full story. Shopee held 50–56% of combined platform GMV in Thailand through most of 2025, with TikTok Shop ranging between 30–43%. The shift accelerated sharply in Q4 2025, when TikTok Shop crossed 40% share for the first time. By Q2 2026, TikTok Shop had reached 48% and overtaken Shopee at 45%. Thailand has crossed a threshold that no other market in the region has reached.
Shopee: still growing, but no longer dominant in Thailand
Shopee’s Thailand GMV grew to USD 9.8 billion in H1 2026, up 32% from USD 7.5 billion in H1 2025. That is strong absolute growth by any measure, and Shopee’s shopper base in Thailand has increased.
The more significant change is in purchase frequency. Shopee Thailand shoppers placed 9.9 orders per shopper in Q2 2026, up from 6.5 in Q1 2023. Shopee’s consumer engagement is deepening in Thailand, which is the platform’s most important competitive asset.
What has changed is the category mix. Electronics and appliances, historically Shopee Thailand’s largest category at 31% of GMV in 2025, declined to 29% in H1 2026. Fashion and apparel grew from 22% to 24%. Health and wellness grew from 7% to 8%. The category mix is shifting toward categories where TikTok Shop also competes strongly.
TikTok Shop: the fastest-growing platform in Thailand by a significant margin
TikTok Shop Thailand GMV reached USD 9.9 billion in H1 2026, up 116% from USD 4.6 billion in H1 2025. In Q2 2026, TikTok Shop generated USD 5.3 billion in Thailand, exceeding Shopee’s USD 4.9 billion for the first time.
The most striking data point in Thailand’s numbers is TikTok Shop’s purchase frequency. In Q1 2023, TikTok Shop Thailand shoppers placed 5.2 orders per shopper per quarter. By Q2 2026, that figure reached 11.8, compared to Shopee’s 9.9 in the same period. TikTok Shop is not just acquiring new shoppers in Thailand. It is turning existing shoppers into habitual buyers at a pace that directly mirrors Shopee’s own frequency growth trajectory from earlier years.
TikTok Shop’s shopper base in Thailand reached 41 million in Q2 2026, closely matching Shopee’s 44 million. The gap in shopper numbers is small.
The category shift is notable: beauty and personal care, TikTok Shop’s signature category, declined from 33% of GMV in 2025 to 29% in H1 2026. Health and wellness rose from 8% to 10%. Fashion and apparel grew from 22% to 23%. TikTok Shop in Thailand is beginning to broaden beyond its beauty-led origins, which is a sign of platform maturation rather than weakness in beauty.
Lazada: continuing contraction
Lazada Thailand GMV fell to USD 1.6 billion in H1 2026, down 23% from USD 2.1 billion in H1 2025. Its share of combined platform GMV dropped to 7%. Electronics and appliances declined from 32% of Lazada Thailand GMV in 2025 to 28% in H1 2026, while food and beverage grew from 5% to 9%, an unusual category shift that may reflect a narrowing of Lazada’s remaining seller base toward specific product types.
Lazada’s average order value in Thailand held at THB 418 in H1 2026, the highest of the three platforms, indicating its remaining transactions are concentrated in higher-ticket purchases. But at 7% of combined platform GMV, Lazada’s strategic role in Thailand in 2026 is as a niche channel for premium and authenticated purchases rather than a volume platform.
What the category data means for brands in Thailand
Electronics and appliances is declining as a share of GMV across all three platforms. Shopee fell from 31% to 29%. Lazada from 32% to 28%. TikTok Shop held at 8% from H2 2025 to H1 2026. Despite the share decline, absolute electronics GMV is growing as the overall market expands. For electronics brands, the key strategic consideration is that LazMall’s authentication value proposition is becoming less relevant as its overall GMV declines, while Shopee’s growing electronics credentials offer more volume.
Beauty and personal care remains TikTok Shop’s defining category in Thailand but its share has moderated from 33% to 29% in H1 2026. This is not a decline in absolute beauty GMV on TikTok Shop, the platform grew 116% overall, so a declining share from a much higher base still means substantially more beauty GMV in absolute terms. It reflects the platform broadening into other categories as it matures.
Health and wellness is growing in both TikTok Shop (8% to 10%) and Shopee (7% to 8%) in Thailand. This is one of the clearest growth category signals in the Thailand data and warrants attention from brands operating in this space.
Fashion and apparel is stable to slightly growing on Shopee (22% to 24%) and TikTok Shop (22% to 23%). Fashion remains the second-largest category on both platforms. The discovery mechanisms differ significantly between the two; campaign-driven purchasing on Shopee versus social and live-selling discovery on TikTok Shop but both are growing their fashion share.
Consumer behaviour: what H1 2026 reveals about Thai shoppers
Average order value has shifted. Shopee Thailand’s AOV was THB 318.5 in H1 2026, down from THB 325 in 2025. TikTok Shop’s AOV fell from THB 313.2 to THB 290. Both platforms are seeing lower per-order values while processing more orders, consistent with consumers making more frequent, lower-value purchases rather than fewer, higher-value ones. Lazada’s AOV rose to THB 418, confirming its concentration in higher-ticket purchasing occasions.
TikTok Shop’s order volume in Thailand now exceeds Shopee’s. Cube estimates that TikTok Shop’s order volume in Thailand has crossed over Shopee’s, making it the largest platform in Thailand by order count. Shopee and TikTok Shop are effectively tied on GMV in Thailand in H1 2026, but the order volume crossover is a leading indicator of where GMV will go.
Shopper bases are nearly equal. Cube estimates Shopee had around 44 million shoppers in Thailand in H1 2026, with TikTok Shop close behind at around 41 million. In 2023, the gap was much wider, with Shopee at roughly 32.7 million and TikTok Shop at around 17.5 million. TikTok Shop’s shop
What this means for brands in Thailand in 2026
The two-platform assumption is now a requirement, not an option. Thailand is the first market in the region where brands cannot prioritise one platform over the other without accepting meaningful GMV exposure. In Q2 2026, TikTok Shop held 48% of combined platform GMV in Thailand. A brand that is not fully invested in TikTok Shop is absent from the larger platform by quarterly GMV in the market’s most recent period.
TikTok Shop’s frequency growth changes the channel strategy calculation. When TikTok Shop was primarily a discovery platform with low purchase frequency, the rational strategy was to use it for awareness and convert customers to repeat purchases on Shopee. That calculation is no longer straightforward when we see higher purchase frequency here. Repeat purchasing is happening on TikTok Shop in Thailand, and brands need to invest in the mechanics that drive it: follower relationships, livestream consistency, and creator partnerships.
Health and wellness is the emerging category opportunity. Its share is growing on both Shopee and TikTok Shop in Thailand while other categories hold steady or decline. For brands in health and wellness, Thailand in H1 2026 is one of the strongest growth signals in Cube’s dataset.
Lazada investment should reflect its 7% platform share. At USD 1.6 billion in H1 2026, Lazada Thailand’s GMV is roughly equivalent to a single strong month for either Shopee or TikTok Shop. For most brands, maintaining a minimal presence on Lazada for premium and electronics positioning while concentrating investment on Shopee and TikTok Shop reflects the market as it actually is.
Track e-commerce in Thailand with Cube
Cube’s Tradewinds dataset provides monthly GMV and NMV estimates across Shopee, Lazada, and TikTok Shop for the six core markets Cube tracks, including Thailand, with historical data from 2022. Our Astro category tracker provides brand and SKU-level sales tracking, competitive benchmarking, assortment insights, and pricing intelligence for brands operating across e-commerce platforms in Southeast Asia.
Frequently asked questions
What is the size of the e-commerce market in Thailand?
based on Cube’s Tradewinds dataset, combined GMV across Shopee, Lazada, and TikTok Shop in Thailand was USD 30.7 billion in 2025, up 21% from USD 25.4 billion in 2024. In H1 2026, combined GMV reached USD 21.3 billion, up 51% from USD 14.1 billion in H1 2025. These figures cover physical goods only and do not represent total e-commerce in Thailand.
What is Shopee's market share in Thailand?
Shopee held 46% of combined platform GMV in Thailand in H1 2026, down from 53% in H1 2025 and 52% for full-year 2025. In Q2 2026, Shopee’s share fell to 45% as TikTok Shop reached 48%, the first quarter in which TikTok Shop exceeded Shopee in Thailand.
Has TikTok Shop overtaken Shopee in Thailand?
In Q2 2026, TikTok Shop generated USD 5.3 billion in Thailand versus Shopee’s USD 4.9 billion, making it the larger platform by quarterly GMV for the first time. For H1 2026 as a whole, the two platforms were tied at 46% each of combined platform GMV. Based on Cube’s data, Thailand is the first market in Southeast Asia where TikTok Shop and Shopee have reached GMV parity.
How fast is TikTok Shop growing in Thailand?
TikTok Shop Thailand GMV grew 116% in H1 2026 to USD 9.9 billion, from USD 4.6 billion in H1 2025. In 2025, TikTok Shop grew 53% full-year to USD 11.2 billion. TikTok Shop’s H1 2026 GMV of USD 9.9 billion already exceeds its full-year 2024 total of USD 7.3 billion.
Is Lazada still relevant in Thailand?
Lazada holds 7% of combined platform GMV in Thailand in H1 2026, down from 12% in 2025 and 20% in 2024. Its GMV fell to USD 1.6 billion in H1 2026. It retains the highest average order value of the three platforms at THB 418, and its strongest remaining position is in premium and authenticated purchases. For most brands in Thailand, Lazada now warrants selective investment focused on specific categories rather than broad commercial presence.
What are the top product categories in Thailand e-commerce?
Based on Cube’s H1 2026 data for Thailand: on Shopee, fashion and apparel leads at 24%, but electronics at 29% and health and wellness at 8%. On TikTok Shop, beauty and personal care leads at 29%, followed by fashion and apparel at 23% and health and wellness at 10%. Health and wellness is growing on both platforms and is the clearest emerging category opportunity in Thailand’s current data.
Source: Cube Tradewinds & Astro category tracking dataset. All figures are estimates covering physical goods GMV on the mentioned platforms and do not represent total e-commerce in SEA.
