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TikTok Shop Emerges as a Competitor to Shopee and Lazada in Southeast Asia

TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia

TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia

TikTok Shop is rapidly gaining ground in Southeast Asia’s e-commerce market, causing major players such as Shopee and Lazada to take notice. Owned by Chinese tech giant ByteDance, TikTok Shop offers merchants, brands, and creators the chance to showcase and sell their products to users. Its GMV skyrocketed to $4.4 billion in Southeast Asia in 2022, with reports indicating that TikTok Shop aims to reach a $12 billion GMV by 2023. However, it still lags behind Shopee and Lazada, both of which have seen far higher GMVs. Despite the competition, TikTok Shop continues to gain popularity, particularly in Indonesia, where it has around 113 million users. To incentivize sellers to join, the app waived commission fees when it launched in Singapore in August. As TikTok Shop continues to grow, it could one day be just as big as its competitors.

FAQs:

What is TikTok Shop?
TikTok Shop is an e-commerce marketplace within the TikTok app that allows merchants, brands, and creators to showcase and sell their products to users.

Who owns TikTok Shop?
TikTok Shop is owned by Chinese tech giant ByteDance.

Which countries does TikTok Shop operate in?
As of 2022, TikTok Shop has expanded to six Southeast Asian countries, including Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and Thailand.

How does TikTok Shop compare to competitors like Shopee and Lazada?
While TikTok Shop’s GMV has grown rapidly, it still lags behind Shopee and Lazada, which have seen far higher GMVs. However, TikTok Shop continues to gain popularity, particularly in Indonesia, where it has around 113 million users.

What incentives does TikTok Shop offer for sellers to join the platform?
To incentivize sellers to join, TikTok Shop waived commission fees when it launched in Singapore in August. Merchants were only required to pay a 1% payment fee.

TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia
TikTok Shop, a rising threat to Shopee and Lazada in Southeast Asia

The Emergence of TikTok Shop as a Potential Challenger to Shopee and Lazada in Southeast Asia

Chinese tech giant ByteDance’s e-commerce marketplace, TikTok Shop, is becoming a rising threat to major e-commerce players Shopee and Lazada in Southeast Asia. Despite its current gross merchandise value (GMV) being just a fraction of Shopee and Lazada’s, TikTok Shop’s GMV skyrocketed to more than four times its previous value at $4.4bn in Southeast Asia in 2022, with a target of achieving $12bn by 2023. Sachin Mittal, head of telecom and internet sector research at DBS Bank, said that the impulse buying advantage TikTok has gained from watching content is an advantage that makes TikTok Shop a threat to its competitors.

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