TikTok rises, Alibaba's Lazada falters in ASEAN e-commerce

ByteDance-owned platform grows in Southeast Asia but still lags behind rivals

Lazada’s estimated gross merchandise value fell from $21 billion in 2021 to to $20.1 billion last year, according to a report by the consultancy Momentum Works. © Reuters

DYLAN LOH, Nikkei staff writer

June 15, 2023 11:12 JST

Updated on June 15, 2023 14:26 JST

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.