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Shopee, Lazada lead SEA ecommerce growth: report
Market intelligence firm Momentum Works said in a report released on April 14, 2026, that Southeast Asia’s ecommerce platforms generated US$157.6 billion in gross merchandise value in 2025, up 22.8% year-on-year.
The firm estimated total ecommerce GMV at US$185.5 billion after adding about US$27.8 billion from non-platform channels, with platforms making up 85% of the market.
It said Shopee, Lazada, and TikTok Shop, including Tokopedia, held 98.8% of platform GMV, while Thailand and Malaysia were the fastest-growing markets at 51.8% and 47.6%, respectively.
🔗 Source: Momentum Works
🧠 Food for thought
Implications, context, and why it matters.
Competition is reshaping southeast asia ecommerce
- Headline growth numbers miss how hard Shopee and TikTok Shop now compete 1.
- Shopee holds 52% of gross merchandise value (GMV); TikTok Shop has 18% and grows 40-55% a year 1.
- Vietnam stands out. TikTok Shop active sellers rose 96% in the first half of 2025, while Shopee active sellers dropped 32% 2.
- Their pricing differs. Shopee average order value runs US$13–US$15. TikTok Shop sits at US$4.50–US$6.00, pulling in first-time buyers through low-cost impulse buys 1.
Growth raises costs for platforms and merchants
- The fight for market share leaves ecommerce platforms under pressure to turn a profit 3.
- Shopee and TikTok Shop have raised seller commission fees to lift margins 3.
- In Vietnam, brands now need livestreaming or short-video shoppertainment to keep up. Shoppertainment refers to using entertainment-style videos and live broadcasts to drive shopping purchases 2.
- Vietnam also tightened tax collection. Platforms must withhold value-added tax (VAT) and personal income tax (PIT) on certain sales made through their sites, which adds admin work for platforms and merchants 2.
Recent Shopee developments
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