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Hello reader,
Have you ever watched anything on Shopee Live or LazLive? Personally, I’ve never checked out livestreams on these platforms – in my head, these ecommerce apps are for shopping, full stop.
That’s where TikTok and TikTok Shop seem to be game-changing. I could watch the stream of a creator I like, see them promoting a product that I find quite cool, and immediately buy the item, all without ever leaving the app. I’ve yet to actually make a purchase via TikTok Shop, but I’m sure it’s only a matter of time.
TikTok Shop’s ambitions in Southeast Asia may have taken a hit, especially with ecommerce transactions over social media platforms getting banned in Indonesia. But in my opinion, its story in the region has only just begun.
Today we look at:
- The void TikTok Shop left behind in Southeast Asia
- A car-sharing platform that’s closed a new funding round
- Other newsy highlights such as Ola Electric’s latest fundraise and a medtech firm in Singapore that got regulatory approval for its device.
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The void left behind
Image credit: Timmy Loen
TikTok has been having a tough time in Southeast Asia, especially in Indonesia, where TikTok Shop has been banned due to new regulations. However, as much as nature abhors a vacuum, the gap it left behind may not be so easily filled.
- This is what we call shoppertainment: TikTok’s blend of ecommerce and social media was effective, as users watched entertaining videos and made purchases along the way. It posed serious competition to incumbents like Shopee and Lazada.
- Not the alternative we had in mind: While TikTok Shop can’t operate in Indonesia at its current state, its sellers haven’t flocked to other platforms. Some merchants who used to sell on TikTok are turning to traditional order-taking methods such as WhatsApp rather than using other live-selling platforms like Shopee Live.
- What’s next: That said, TikTok isn’t giving up on Indonesia, as it might launch a standalone app for its ecommerce unit. But even if it doesn’t, there’s still other opportunities for it elsewhere in Southeast Asia.
Read more: Shopee, Lazada may struggle to fill void left by TikTok Shop
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