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TikTok Shop's Rapid Growth in Southeast Asia E-commerce
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TikTok's e-commerce division, TikTok Shop, has seen a dramatic surge in Southeast Asia. The gross merchandise volume (GMV), which represents the total value of goods sold, leaped from $4.4 billion to $16.3 billion within a year. When combined with Tokopedia, TikTok's share in the $114.6 billion ASEAN market reached 28.4%, placing it second only to Shopee.
TikTok's growth has surpassed that of local heavyweights such as Shopee and Lazada. The app's live-streaming shopping feature has been a key driver of sales, attracting over 8,000 employees. In response, Shopee has increased its investments in live-streaming and logistics.
Despite facing challenges, including a temporary ban in Indonesia, TikTok's strategic partnership with Tokopedia has strengthened its market position. In Indonesia, their combined market share nearly matched that of Shopee.
Momentum Works, the consultancy responsible for these figures, gathered its data from major digital retail platforms across six Southeast Asian countries, integrating paid orders with industry insights.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting and in-depth analysis. |
| Social Impact | 4 | Strong social discussion, influencing some public opinion. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | Very high potential to trigger larger events. |
| Practicality | 4 | Highly practical, applicable to real problems. |
| Entertainment Value | 3 | Some entertainment value, attracts a portion of the audience. |