Marred by intense competition and several promotional campaigns, the three major e-commerce operators in Thailand have racked up a combined 39 billion baht in operational losses over the past seven years, according to Creden Data, a data analytics service provider.
The trio are Lazada, the Southeast Asia e-commerce arm of China’s Alibaba; Shopee, the e-commerce arm of Singapore-headquartered internet firm Sea; and JD Central, an e-commerce joint venture between Central Group and Chinese internet giant JD.com.
The three operators booked combined revenue of 85 billion baht from 2015 to 2021.
In 2021, Lazada was the biggest earner among the trio with revenue of 14.6 billion baht, up from 10 billion a year before. It bounced back into the black with a profit of 226 million baht, compared with a loss of 3.9 billion baht in 2020.
Shopee extended its loss to 4.9 billion baht…
