The key ingredient that may give TikTok Shop the edge over other e-commerce platforms is “impulse buying from watching content”
SINGAPORE: Shopee and Lazada have long dominated the online selling market in South East Asia, but this dominance now has a new threat in the form of TikTok Shop, as the app continues to gain popularity across the globe despite security concerns.
The company’s aggressive foray into South East Asia is undeniable, with TikTok Shop launching in Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand last year. Blue Lotus Research Institute analyst Shawn Yang said the video app continues to grow rapidly in South East Asia. And while its GMV, or the total value of goods sold, for last year was already at an impressive US$4.4 billion , the company’s goal is reportedly to see this nearly triple to US$12 billion for this year.However, there is no doubt that the growing number of TikTok users in South East Asia will help the company reach its goals.
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