On June 15th, Gizcoupon reported that according to Reuters, TikTok CEO Zhou Shouzi expressed today at a forum held in Jakarta, the capital of Indonesia, that “over the next few years, we will be investing billions of dollars in Indonesia and Southeast Asia.”
Zhou Shouzi emphasized the increasing diversity of content on the TikTok platform as its user base continues to expand. Furthermore, the business scope has extended from advertising to e-commerce, enabling consumers to purchase goods through links on the app while watching live streams.
Currently, TikTok employs 8,000 staff members in Southeast Asia. Additionally, in Indonesia, the largest economy in the region, over 2 million small merchants are utilizing TikTok’s e-commerce platform to sell their products.
With a population of 630 million, half of whom are below 30 years old. Southeast Asia stands as one of the largest markets of TikTok in terms of user count. However, in the e-commerce sector, it faces fierce competition from platforms such as Shopee by Sea, Lazada by Alibaba, and Tokopedia by GoTo.
Previously reported by Gizcoupon, TikTok is planning to increase its e-commerce revenue target from $4.4 billion last year to over $20 billion this year. The Southeast Asian market, including Indonesia, will be the main battleground to achieve this goal.
As TikTok continues to innovate and adapt to the dynamic demands of the Southeast Asian market, it is poised to shape the future of social media and e-commerce in the region.