SINGAPORE -- TikTok has aggressively gained its traction in the Association of Southeast Asian Nations' e-commerce scene but still lags behind regional rivals as the fight for online consumer spending heats up, a report released on Thursday showed.
The platform for sharing short videos, owned by Chinese technology giant ByteDance, offers a digital retail feature known as TikTok Shop, which made its debut in the 10-member ASEAN in 2021. Since then, the report showed, it has increased its estimated gross merchandise value (GMV) sevenfold.
