MARKET consolidation and new entrants stole the e-commerce industry headlines in 2024. But market watchers say the year ahead will be more rational in this space, with customers across South-east Asia unlikely to continue to enjoy deep discounts on products and shipping, which has been subsidised by the platforms.
Last year, the entry of TikTok Shop and Temu shook up the status quo among e-commerce platforms in the region. Already, TikTok Shop has been seen to have gained significant market share here.
In Indonesia, the region’s biggest e-commerce battleground, TikTok Shop had faced some regulatory setbacks. To continue operating in the country, it purchased a majority stake in Indonesian e-commerce platform Tokopedia as a workaround.
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