'Impulse buying from watching content is an advantage TikTok has,' Sachin Mittal, head of telecom & internet sector research at DBS Bank, told CNBC.

Indonesia is Southeast Asia's most populous country, where 52% are young people and it has around 113 million TikTok users. Indonesia has the second largest population of TikTok users after the U.S., according to Statista. TikTok is 'focused on the continued development of TikTok Shop in Southeast Asia,' said the spokesperson.Īs of May, the number of TikTok users in Southeast Asia alone is 135 million, according to market research company Insider Intelligence. TikTok Shop is reportedly aiming for a GMV target of $12 billion by 2023.Ī TikTok spokesperson told CNBC that TikTok Shop 'continues to grow rapidly' as both large and small users use the platform to reach new customers. TikTok Shop's GMV, or total value of goods sold, skyrocketed more than four times to $4.4 billion in Southeast Asia in 2022, according to internal data obtained by tech media outlet The Information. TikTok did not want to comment or reveal numbers.

We estimate that TikTok's 2023 will reach 20%~ of Shopee, which we suggest prompted Shopee to defensively increase sales and marketing since April,' said Shawn Yang, analyst at Blue Lotus Research Institute, in a recent report on Sea Group, the owner of Shopee. 'TikTok continues to grow rapidly in Southeast Asian countries. In 2022, TikTok Shop expanded to six Southeast Asian countries - Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. The shopping app enables merchants, brands and creators to showcase and sell their goods to users. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower

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