Before Closing in Indonesia, TikTok Shop's Market Share Predicted to Soar in 2023

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Cindy Mutia Annur 04/10/2023 17:50 WIB

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According to Momentum Works, TikTok Shop's e-commerce market share in ASEAN is projected to surge from 4.4% in 2022 to 13.2% in 2023. However, this projection was made before TikTok Shop was shut dow

Southeast Asian E-commerce Market (2022-2023*)

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Southeast Asian E-commerce Market (2022-2023*)

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According to Momentum Works, in 2022 TikTok Shop controlled 4.4% of the total e-commerce market share in Southeast Asia. They projected this share to rise to 13.2% in 2023.

Momentum Works also assessed TikTok Shop as a potential threat to major e-commerce players in the region, such as Shopee, Lazada, and Tokopedia.

"Although TikTok Shop currently has a small market base, and its organization may be chaotic, the company has proven to be committed and quick to adapt," stated Momentum Works on its official website in August 2023.

They believe TikTok Shop has significant potential due to its video and live streaming features, along with marketplace transaction facilities.

"This could narrow the gap (in TikTok Shop's market share) with traditional marketplaces," said Momentum Works.

TikTok Shop was also the only e-commerce provider in Southeast Asia whose market share was projected to increase in 2023.

Meanwhile, Shopee's market share is predicted to fall from 48.1% in 2022 to 46.5% in 2023.

Over the same period, Lazada's market share in Southeast Asia is predicted to fall from 20.2% to 17.7%, Tokopedia from 18.5% to 13.9%, and other e-commerce platforms from 8.9% to 8.7%.

However, Momentum Works made this projection before TikTok Shop was shut down in Indonesia.

Starting at the end of September 2023, the Indonesian government implemented new regulations prohibiting the integration of social media with e-commerce transaction services, resulting in the closure of TikTok Shop in early October 2023.

Therefore, TikTok Shop has now lost a large potential market, and Momentum Works' projection may no longer be relevant.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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