Thailand's online retail market is expected to grow by up to eight times in the coming years, the same pace as China's.
The proliferation of inexpensive mobile devices and the growing number of internet users will be the main contributors.
Riccardo Basile, chief executive of online shopping mall Lazada Thailand, said the local online retail market excluding food and travel would account for 1% to 1.5% of the country's retail market this year.
The strong mobile internet user base and government efforts to develop a digital economy will be the main growth factors.
Mr Basile said Thailand was an important market in Southeast Asia for Lazada due to its favourable environment for the expansion of e-commerce and strong growth in internet penetration.
Thais spend more than five hours a day using the internet via mobile.
More than 15 million people in Thailand own at least one smartphone.
In addition, Mr Basile said Thailand had a strong culture of social networks among friends and family.
Bangkok has the highest number of Facebook users in the world, with 14 million. Line users in Thailand number 33 million, while there are 1.5 million Instagram users.
"The mobile is a crucial driver of e-commerce growth in the digital economy era," Mr Basile said, adding that more than half of Lazada's online traffic was via mobile.
Downloads of Lazada's mobile app exceeds 9.4 million.
Based on reports of web-ranking measurement firms Similarweb and Alexa.com, Mr Basile said Lazada led Thailand's online retail market with 20 million visitors a month, followed by WeLoveShopping.com (6.2 million), Rakuten Tarad (3.9 million), CDiscount.com (1.1 million), ShopAt7.com (660,000), Luxola (560,000) and Sanoga (55,000).
Lazada's sales value has surged six-fold in the past 18 months.
As of the end of last year, Lazada Thailand had 3,000 online merchants, with transactions valued at US$70 million.
Mr Basile said Lazada planned to increase the number of warehouses in Thailand and introduce a new mobile payment service in order to increase sales.
The company is also increasing the range of low-priced Chinese products to attract customers.