TikTok Shop on Rise in Indonesia, What's the Impact?

By Editorial Team 24/08/2023
TikTok
Summary

Research company Momentum Works released a report entitled “The TikTok Shop Playbook: How Ecosystem Stakeholders Should Respond to the E-Commerce Insurgent” on Aug 21.

The report mentioned that TikTok Shop's market share would reach 13.2 percent in Southeast Asia by 2023. Momentum Works insights lead Weihan Chen said the bigger narrative was no longer about TikTok Shops being a threat to other platforms.

According to him, in the e-commerce industry, the players have their own network effects and structural advantages. "Disruption is still possible, and the contenders have to remain focused and alert," he said on Tuesday.

The report highlighted TikTok Shop's gross merchandise value which grew from US$0.6 billion in 2021 to US$4.4 billion in 2022. By 2023, the figure could reach US$15 billion. ”This will place TikTok Shop right beside Lazada and Tokopedia,” the report stated.

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