SINGAPORE: TikTok's nascent venture into online shopping is paying off, with its e-commerce affiliate gaining a substantial market share in Southeast Asia just a year after its launch, a report said on Thursday
is paying off, with its e-commerce affiliate gaining a substantial market share in Southeast Asia just a year after its launch, a report said on Thursday .
"You can think of it as TikTok already having a captive audience coming onboard for entertainment trying different means to convert them and their attention into purchase and GMV," Weihan Chen, head of insights at Momentum Works, told AFP. Shopee, a unit of Singapore's Sea, accounted for US$47.9 billion of that, a 13 per cent increase, the report said.Tokopedia, which solely serves the Indonesian market, was in third place with US$18.4 billion.
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