Deep Dive into Thai Marketplaces: The Surge to Rival Foreign Tech Giants Amid Fierce GP Rate Wars
Thai online merchants struggle as foreign platform fees soar to 22-40%, sparking a massive wave of entrepreneurs launching homegrown marketplaces centered around low GP rates.
Stock photo for illustration only, not from the actual event
- Thai online sellers utilizing the top 3 foreign platforms face combined fee burdens as high as 22-40%.
- The average net profit for Thai SMEs drops to just 2.3% after deducting mandatory fees and advertising costs.
- New homegrown platforms are entering the market with exceptionally low GP rates ranging from 0% to 1%.
- Government agencies and the Thai E-Commerce Association are stepping up to push for stricter regulatory measures against foreign capital.
Thai online merchants selling products through the top three foreign platforms are facing a combined fee burden as high as 22-40% of sales on every single order. This figure is based on a survey of over 500 SMEs conducted during the first and second quarters of 2026 by the Thai E-Commerce Association (THECA), which revealed that after deducting all types of fees, the average net profit for these shops drops to a mere 2.3%.
This fee rate, also known as the take-rate, represents the total share of revenue that platforms deduct from merchant sales. It includes not only commissions by product category but also payment processing fees and mandatory advertising costs, as the system immediately hides products if sellers refuse to purchase ads.
This immense pressure has prompted a group of Thai SMEs to band together, marking the starting point for multiple entrepreneurs to independently develop their own marketplace platforms simultaneously. This momentum became even clearer when Thaimart announced its launch featuring a 0% GP campaign, which subsequently inspired other homegrown platforms to emerge around the same time.
The fact that the top three foreign platforms captured up to 98.8% of the total Gross Merchandise Value (GMV) in the ASEAN e-commerce market in 2025 highlights an extremely high level of market concentration in the region. The efforts of Thai entrepreneurs to build alternative platforms to compete is therefore an exceptionally challenging task amidst the capital advantages and global networks of these giants.
The term GP stands for Gross Profit. In the Thai e-commerce and food delivery industries, it refers to the fee that platforms deduct from merchant sales on every order. Individual Thai platforms have established their own distinct GP formulas and business positioning, starting with Thaimart, which ignited this current trend.
Thaimart officially launched on July 7, 2026, after spending five years preparing its infrastructure. Backed by a team of approximately 450 employees and led by Panthawat Nakwisut, also known as 'Not', CEO of Thaimart Marketplace, the platform's key strength is a 0% GP waiver for merchants operating during their first year. This will gradually increase to a tiered ceiling of 5% in the second year, 8% in the third year, and 10% in the fourth year. Additionally, a 3% payment processing fee is waived until the end of 2026. Thaimart differentiates itself by utilizing a pre-sale merchant vetting system and clear return policies instead of relying on discount coupons.
Meanwhile, ThailandPostMart, operated by Thailand Post Co., Ltd., has joined the 'Thai Helps Thai, Increasing Income for Thai SMEs' initiative in collaboration with the Department of Business Development under the Ministry of Commerce, offering a complete GP waiver throughout the duration of the project. Another interesting player is Pantip Mall, which launched in beta in May 2026 through a partnership between Pantip.com and ShopSCAPE, charging a 3% promotional commission for its initial group of merchants while highlighting a Thai Seller Protection policy to block foreign sellers from directly integrating their sales systems.
Furthermore, other platforms include ShopChill, operated by INET in partnership with SME D Bank, which charges a flat GP of just 1%—the lowest among disclosed Thai platforms—alongside THAI THAI BY ECO Commerce, which blends a Creator Commerce model with a 0% GP, and YJ Mall, founded by Chatmongkol Somkaew, also known as 'Yiu', which structures its system into three distinct parts: affiliates, customers, and merchants, aimed at helping Thai brands scale their businesses.
"The Thai E-Commerce Association has scheduled meetings with ThailandPostMart, Thaimart, Pantip Mall, and ShopChill to discuss cooperation and has proposed the establishment of a working group for marketplace operators under the association."
Pawoot Pongvitayapanu
This ripple effect has also driven action from the Thai E-Commerce Association, led by Kulthirath Pakawachaikul, President of the Association, who submitted three proposals to parliament: stricter regulatory oversight of foreign platforms following models in India, China, South Korea, and Indonesia; the establishment of a joint public-private central agency to handle complaints; and the promotion of a 'Thai First' policy accompanied by tax measures to support legally registered domestic sellers.
Source: Techsauce
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