Thailand Site Ranks Second in TikTok Shop GMV
Jayson 29 Jan 2024 09:55
It is reported that in Thailand, 81% of consumers make purchases based on recommendations from anchors. Some experts predict that 2024 will be the year when live streaming sales explode in the country.
As a representative of live broadcast sales, TikTok Shop Thailand's GMV has accounted for 16% of the platform's total GMV, second only to Indonesia's 42%.
Thanawat Malabuppha, honorary president of the Thai E-commerce Association and CEO of Priceza, predicted that Shopee will increase marketing subsidies this year in order to seize the market.
He said that although competition among platforms is fierce, each platform has its own unique advantages. Shopee has a wide range of products with GMV from different product categories. Its average order value in the region is $6-$8.
About 43% of Lazada's GMV comes from electronics and home appliances. This gives it a higher average order value of $8-10. Lazada also focuses on brands and its shopping malls.
As for TikTok Shop, the current average order value is $6, but the platform is likely to increase that number in the next step.
Data shows that in Southeast Asia, major e-commerce platforms account for 55% of the entire e-commerce market, while social e-commerce accounts for 28%, TikTok accounts for 9%, instant delivery accounts for 11%, and e-tailers and e-commerce websites account for 6% .
As a representative of live broadcast sales, TikTok Shop Thailand's GMV has accounted for 16% of the platform's total GMV, second only to Indonesia's 42%.
Thanawat Malabuppha, honorary president of the Thai E-commerce Association and CEO of Priceza, predicted that Shopee will increase marketing subsidies this year in order to seize the market.
He said that although competition among platforms is fierce, each platform has its own unique advantages. Shopee has a wide range of products with GMV from different product categories. Its average order value in the region is $6-$8.
About 43% of Lazada's GMV comes from electronics and home appliances. This gives it a higher average order value of $8-10. Lazada also focuses on brands and its shopping malls.
As for TikTok Shop, the current average order value is $6, but the platform is likely to increase that number in the next step.
Data shows that in Southeast Asia, major e-commerce platforms account for 55% of the entire e-commerce market, while social e-commerce accounts for 28%, TikTok accounts for 9%, instant delivery accounts for 11%, and e-tailers and e-commerce websites account for 6% .
