TikTok Shop vs Shopee GMV Trends in Southeast Asia (2023–2025)
A country-by-country GMV breakdown of TikTok Shop vs Shopee (2023–2025) revealing Southeast Asia’s e-commerce power shift.
Table of Contents
Southeast Asia’s e-commerce landscape is undergoing a transformative shift, marked by rapid innovation, heightened competition, and changing consumer habits. Shopee, a long-standing force in the region, has cemented its dominance through extensive category reach, dependable logistics, and aggressive marketing. On the other end, TikTok Shop has rapidly emerged as a formidable challenger, fueled by viral social commerce, creator-driven sales, and seamless video-to-checkout experiences. Between 2023 and 2025, the Gross Merchandise Value (GMV) trends of these two giants illustrate not only their competitive dynamics but also the broader evolution of e-commerce in the region.
TikTok Shop’s Breakout Growth
TikTok Shop’s trajectory in Southeast Asia has been nothing short of remarkable. Initially launched as an extension of TikTok’s viral video ecosystem, it has morphed into a shopping powerhouse. In 2023, TikTok Shop’s GMV soared to approximately $16.3 billion, reflecting nearly 4x growth compared to its 2022 performance. This momentum was fueled by its unique “shoppertainment” strategy—a potent mix of influencer-led livestreams, snackable product demos, and trend-driven community engagement that resonated strongly with Gen Z and millennials.
By 2024, TikTok Shop had nearly doubled its regional GMV, reaching an estimated $25–30 billion, establishing itself as the second-largest e-commerce platform in Southeast Asia, ahead of Lazada. Its daily GMV across the region approached $140 million in early 2025, with Indonesia and Thailand emerging as high-performance markets. In Indonesia alone, TikTok Shop generated about $6 billion in GMV during H1 2025, while Thailand followed closely with $5.9 billion, demonstrating the platform’s continued momentum despite regulatory and competitive headwinds.
The key to TikTok Shop’s success lies in its dominance across discovery-led categories like fashion, skincare, and personal care—segments where purchase decisions are heavily influenced by peer reviews, real-time interaction, and social validation. TikTok has effectively shortened the path from interest to purchase, turning every scroll into a potential sale.
Shopee’s Established Dominance
Shopee has continued to solidify its reputation as the region’s most dominant e-commerce player. In 2023, the platform generated an estimated $55.1 billion in GMV, capturing around 48% of Southeast Asia’s total e-commerce spend, which stood at $114.6 billion. Shopee’s success formula blends wide product availability, localized promotions, gamification, and a deeply integrated logistics network across all major markets.
In 2024, Shopee’s GMV surged again by 29.1% year-over-year, climbing to $83.4 billion. The platform’s strength lies particularly in high-ticket categories such as consumer electronics, home appliances, and fast-moving consumer goods (FMCG), areas where reliability, warranty, and delivery infrastructure are critical. Its user base exceeded 295 million active shoppers, and its mega campaigns continued to set regional benchmarks in traffic and conversions.
Shopee’s ability to scale infrastructure while maintaining user satisfaction has allowed it to weather TikTok Shop’s aggressive rise. As of early 2025, Shopee still leads GMV charts in all major Southeast Asian markets. While it may not have the viral cachet of TikTok, it dominates through depth, scale, and consistency.
GMV Comparison by Country and Platform (2023–2025)
Country |
Platform | 2023 (Est.) |
2024 (Est.) | 2025 H1 (Est.) |
|---|---|---|---|---|
Indonesia | Shopee | ~US$21.5B | ~US$23-24B est | ~US$12B |
TikTok Shop | ~US$7.5B | ~US$6.2B est | ~$6B H1 | |
Thailand | Shopee | ~US$10B | ~US$12B | N/A |
TikTok Shop | ~US$3B | ~US$5.7B | N/A | |
Vietnam | Shopee | ~US$9.1B | ~US$10.4B | N/A |
TikTok Shop | ~US$3.2B | ~US$4.5B | N/A | |
Malaysia | Shopee | ~US$7-8B | ~US$11.5B | N/A |
TikTok Shop | ~US$0.5-1B | ~US$2B | N/A | |
Singapore | Shopee | ~US$2-3B | ~US$4.9B | N/A |
TikTok Shop | N/A | N/A | N/A |
Definition of GMV: The figures above follow Momentum Works’ methodology, which counts paid orders including those later canceled or returnedtheinvestor.vntheinvestor.vn. This can make GMV appear higher than figures that count only completed transactions. For example, Sea Ltd (Shopee’s parent) does not officially report GMV by country, and any internal figures might exclude canceled/returned orders. Our use of Momentum Works data ensures consistency across platforms, but it may differ from other sources due to these definitional nuances.
What This Means for Retailers
For retailers navigating this bifurcated digital landscape, platform choice is no longer binary—it’s strategic. Both Shopee and TikTok Shop offer distinct advantages that can be leveraged depending on product category, customer segment, and marketing objectives.
- TikTok Shop excels in impulse-led commerce, driven by content virality and influencer trust. It’s particularly effective for launching new lifestyle products, targeting Gen Z consumers, and maximizing top-of-funnel discovery through live interactions.
- Shopee provides a more structured and scalable environment, ideal for volume-driven categories, long-term customer retention, and integrated fulfillment solutions. It remains the go-to for electronics, home appliances, and everyday essentials.
The best-performing sellers are those who dual-track their strategies: using TikTok Shop as an engine for brand awareness and conversion spikes, while relying on Shopee for fulfillment reliability, loyalty building, and sustained revenue. Omnichannel readiness is key, and the tools to execute are more accessible than ever.
Conclusion
The battle between TikTok Shop and Shopee is shaping Southeast Asia’s digital commerce frontier. TikTok Shop has demonstrated the explosive potential of social-first e-commerce, converting entertainment into transactions at scale. Shopee, meanwhile, continues to build on its foundation of operational excellence and customer loyalty.
As GMV continues to surge region-wide and consumers embrace hybrid shopping experiences, the key takeaway for brands and retailers is clear: platform agility is now mission-critical. Embrace the strengths of both ecosystems, adapt in real time, and future-proof your digital sales strategy.
Whether it’s a flash-sale on Shopee or a trending lipstick on TikTok Shop, Southeast Asia’s e-commerce battleground has never been more exciting—or more lucrative.
Sources: Momentum Works, TechBuzzChina, Tech Collective SEA, Statista, Business Times Singapore, TMO Group
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