TikTok Shop's annual GMV surged from $4.4 billion in 2022 to $16.3 billion in 2023, matching the league of Lazada, Tokopedia, and Shopee in e-commerce activity.
Momentum Works report emphasizes TikTok's expansion potential as it competes with e-commerce giants; TikTok's strategic move in the Indonesian market showcases its adaptability and growth.
TikTok's partnership with Tokopedia in Indonesia led to the transition of Tokopedia becoming TikTok's 'Shop' service post-elections, indicating a rapid integration process.
TikTok's ability to resolve the Indonesian ban within two months by investing $1.5 billion and partnering with Tokopedia demonstrates its agile and innovative approach in e-commerce operations.
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