Description

• Total ecommerce platform GMV in Southeast Asia grew 1.8 times from 2020 to 2022, totalling ~ US$ 100B;

• Shopee and Lazada are the top 2 ecommerce platforms in most countries, except Indonesia

• Indonesia contributes 52% of the region’s GMV; while Singapore and Malaysia lead in GMV per capita; 

• Southeast Asia’s total GMV is projected to be US$175 billion in 2028, under a normal scenario with the potential of upside to US$232 billion under the best case scenario. 

Southeast Asia’s ecommerce sector endured strong headwinds in 2022. Despite all these, growth and competition continue, with the total GMV of Southeast Asia’s 9 leading ecommerce platforms reaching US$ 99.5 billion in 2022, 1.8 times that of 2020 – the first year of the pandemic.

Purchase Momentum Works’ Ecommerce in Southeast Asia 2023 report for the breakdown of these numbers, and more importantly the insights connecting the dots behind.

There are interesting topline dynamics across platforms and geographies:  

• Shopee registered US$ 47.9 billion GMV, almost half of the region’s GMV; 
• Lazada remains the 2nd largest player in all countries except Indonesia. Its GMV of US$ 20.1 billion remained at the level of 2021;  
• TikTok Shop has become a meaningful player, clocking US$2.5 billion GMV in Indonesia; 
• Indonesia contributed 52% of the region’s total GMV; while
• Singapore and Malaysia ranked top in GMV per capita:

 

• We project that Southeast Asia’s ecommerce total GMV under the normal scenario, we forecast the total GMV to reach US$175 billion in 2028 under the normal scenario, with the potential of upside to US$232 billion under the best case scenario.

 

The >60-page Momentum Works Ecommerce in Southeast Asia 2023 report covers the following sections:

1. Introduction and overview – GMV, market share, the logic of ecommerce platforms; 
2. Key trends in 2023 – 1) Geopolitics and shifts in supply chain, 2) investment in logistics and payment infrastructure, 3) Disruption by TikTok, and 4) Brands’ evolving involvement in ecommerce;
3. Key players and strategies – Shopee, Lazada, Tokopedia, Bukalapak, TikTok Shop, BliBli, Tiki, Amazon and Sendo 
4. Opportunities and challenges for ecosystem players – the shifting dynamics of brands, logistics, payment, enablers, SaaS and cross border in the ecommerce ecosystem
5. Key takeaways from global development – lessons from near-field ecommerce in China, the rise of Temu in the North American market, and the benefits of Generative AI for ecommerce
6. Conclusion and perspectives – what will the endgame be for ecommerce and its ecosystem in Southeast Asia, as well as five-year projects based on different scenarios

Find out the above insights, and more by purchasing the full Ecommerce in Southeast Asia 2023 report:

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