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I have to admit that I’m too old for TikTok. The app makes me dizzy.
But apparently, the Gen Z from Vietnam – where I’m from – are definitely not on the same wavelength.
Source: Decision Lab
And the excitement for TikTok reaches further than just in the country. Across the region, people are addicted to the short-video platform. The app is ranked among the most popular in Southeast Asia, according to Data.ai’s State of Mobile 2022 report.
With 1 billion users worldwide, it’s not a surprise that TikTok wants to further monetize its attention power.
In April 2021, the company picked Indonesia to test its new ecommerce feature, TikTok Shop. And just a couple of months ago, it rolled out the feature in Thailand, Vietnam, and Malaysia, where the company has been making a big push to hire local teams.
Unlike other social media giants, TikTok apparently gives priority to Southeast Asia, where the B2C ecommerce spotlight has mostly been on Shopee and Lazada.
With TikTok Shop, TikTok wants to turn viral content into higher sales and capture all transactions directly on the platform instead of directing users to another marketplace like Shopee.
In this week’s Big Story, I explain why TikTok has the opportunity to excite the region’s ecommerce landscape. As an avid online shopper, I must say that the more competition, the merrier.
Our Hot Take, meanwhile, focuses on Tokopedia – another formidable competitor to Shopee. My colleague Aditya dives into why Tokopedia could be a deciding factor in GoTo’s future beyond its IPO debut.
— Huong
THE BIG STORY
Explaining TikTok’s ecommerce bet in Southeast Asia
SPOTLIGHT: ZILINGO
THE HOT TAKE
NEWS YOU SHOULD KNOW
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