Indonesian E-commerce: TikTok’s GMV Surpasses Shopee After Merger
Jayson 22 Dec 2023 03:08
According to reports, although the merger of TikTok and Tokopedia has dominated Indonesian e-commerce, platforms such as Bukalapak and Lazada still dominate certain market segments.
The report cited a June 2023 Momentum Works report that Indonesia's e-commerce GMV in 2022 was US$51.9 billion.
Among them, Shopee accounted for 36%, approximately US$18.7 billion; Tokopedia accounted for 35%, approximately US$18.1 billion; Lazada accounted for 10%, approximately US$5.19 billion; Bukalapak accounted for 10%, approximately US$5.19 billion; TikTok accounted for 5%, approximately US$2.6 billion; Blibli accounted for 4%, approximately US$2.1 billion.
That is, the combined GMV of TikTok and Tokopedia is US$21.7 billion, which is higher than Shopee's US$18.7 billion.
Indonesia research analyst Christopher Rusli agrees that the combination of TikTok and Tokopedia dominates the country's e-commerce market. However, he said the market leader in the small and micro enterprise segment, such as snack bars, was still held by Bukalapak.
Meanwhile, Momentum Works CEO Li Jiangqian believes Lazada will continue to dominate the brand market through LazMall.
"Under James Chang's leadership, Lazada Indonesia is implementing a different value proposition from Shopee and TikTok Shop," he said in a report last week. "Brands generally still prefer Lazada, which is not easily surpassed. Advantages,” he added.
The report cited a June 2023 Momentum Works report that Indonesia's e-commerce GMV in 2022 was US$51.9 billion.
Among them, Shopee accounted for 36%, approximately US$18.7 billion; Tokopedia accounted for 35%, approximately US$18.1 billion; Lazada accounted for 10%, approximately US$5.19 billion; Bukalapak accounted for 10%, approximately US$5.19 billion; TikTok accounted for 5%, approximately US$2.6 billion; Blibli accounted for 4%, approximately US$2.1 billion.
That is, the combined GMV of TikTok and Tokopedia is US$21.7 billion, which is higher than Shopee's US$18.7 billion.
Indonesia research analyst Christopher Rusli agrees that the combination of TikTok and Tokopedia dominates the country's e-commerce market. However, he said the market leader in the small and micro enterprise segment, such as snack bars, was still held by Bukalapak.
Meanwhile, Momentum Works CEO Li Jiangqian believes Lazada will continue to dominate the brand market through LazMall.
"Under James Chang's leadership, Lazada Indonesia is implementing a different value proposition from Shopee and TikTok Shop," he said in a report last week. "Brands generally still prefer Lazada, which is not easily surpassed. Advantages,” he added.
