According to Reuters, TikTok, an overseas application of ByteDance, plans to invest billions of dollars in the Southeast Asian market in the next few years. It is reported that Southeast Asia has a population of 630 million, with over 325 million people accessing the app every month. However, TikTok has not yet successfully transformed its large user base into the main source of e-commerce revenue in the region and faces competition from large competitors such as Shopee, Lazada, and Tokopedia.
TikTok’s CEO stated that he will invest billions of dollars in Indonesia and Southeast Asia in the coming years. And emphasized the social and economic impact of TikTok in the region, and the specific expenditure plan has not been provided. However, it stated that it will invest in training and support small and medium-sized sellers to join its e-commerce platform TikTok Shop. As the number of users increases, the content on the platform is becoming diversified, expanding from advertising to the e-commerce field. Consumers can directly purchase products in the live streaming room through links within the app.
TikTok has 8000 employees in Southeast Asia. According to consulting firm Momentum Works, the e-commerce transaction volume in Southeast Asia last year was close to $100 billion, with Indonesia accounting for $52 billion.
Post time: Jun-16-2023