The Impulso Podcast E84: TikTok Shop vs Temu in SEA
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Jul 19, 2024 Exploring the booming e-commerce landscape in Southeast Asia, recent findings reveal a staggering GMV growth to $114.6 billion. TikTok Shop is emerging as a key player, challenging traditional giants like Shopee and Tokopedia. Temu's strategic entrance raises questions about its impact on logistics and competition, especially in Indonesia. Insightful discussions also highlight the thrilling concept of live commerce and its potential to reshape shopping experiences in the region.
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Ecommerce Growth in SEA 2023
- Southeast Asia's ecommerce GMV reached $114.6 billion in 2023, a 15% increase since 2022.
- Vietnam and Thailand led growth with 52.9% and 34.1% increases, respectively.
TikTok Shop's Rapid Rise
- Shopee leads SEA ecommerce with $55.1 billion GMV and 48% market share in 2023.
- TikTok Shop quadrupled its GMV in 2023, reaching near Tokopedia and Lazada's scale.
TikTok's Indonesian Growth Potential
- TikTok Shop faced a ban in Indonesia late 2023 but still grew strongly in the second half.
- They could become the number one ecommerce player in Indonesia depending on integration with Tokopedia.