We launched our Ecommerce in Southeast Asia report yesterday and the numbers below went viral with media & social mentions! Thank you all for the support and love!
In the report, we assess that TikTok had become a notable ecommerce player in the region (GMV of US$ 4.4 billion in 2022). In addition, the company targets to further grow its ecommerce business – looking to triple its Southeast Asia GMV to US$ 15 billion in 2023:
In fact, as we speak TikTok is holding a forum in Indonesia where it is pledging billions of dollars of investment in Southeast Asia “to boost ecommerce business”.
Bloomberg recently reported that TikTok was aiming to achieve a global GMV target of US$ 20 billion – which means, aside from tripling Southeast Asia, TikTok will also need other big markets.
We read some scepticism on social media. One comment reads: “TikTok’s target … which honestly is *** impossible. In my 20 years in retail and ecommerce, I have never seen any retailer do that. ”
Based on our research in our Ecommerce in Southeast Asia report – it is *definitely* possible. Brands and suppliers’ interaction with platforms are evolving, and TikTok (and very likely Temu) are reigniting the ecommerce platform war in Southeast Asia.
And of course, incumbents (Shopee, Lazada) are also observing and are already putting out measures to defend their turf.
A lot is happening behind headline numbers and statements. Understand the macro landscape, trends, strategies and tactics by key players and take advantage of this dynamic landscape – all covered in our Ecommerce in Southeast Asia report.
Get your copy of the Ecommerce in Southeast Asia report, available now for US$27.95.
We will also be hosting an exclusive briefing for those who have purchased the report in the coming weeks – details to follow. Stay tuned!
