TikTok Shop vs Shopee GMV Trends in Southeast Asia (2023–2025): Unpacking the E-commerce Showdown
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 in the midst of a seismic shift. Shopee, the long-established leader, has built its dominance on scale, logistics, and consumer trust. But TikTok Shop has emerged as the region’s disruptor, harnessing the power of short-form video, livestreams, and social-driven shopping to capture the hearts—and wallets—of younger consumers. Between 2023 and 2025, their GMV trajectories reveal not just growth numbers, but a transformation in how Southeast Asians discover, engage with, and purchase products online.
TikTok Shop’s Breakout Growth
TikTok Shop transformed from a social experiment into a regional powerhouse almost overnight. In 2023, its GMV skyrocketed to approximately $16.3 billion, nearly quadrupling its 2022 numbers. The driver? TikTok’s signature “shoppertainment” approach—an engaging mix of influencer-led livestreams, short videos, and viral content that keeps Gen Z and millennial shoppers hooked.
By 2024, TikTok Shop’s GMV nearly doubled again, reaching $25–30 billion across Southeast Asia. This surge allowed it to leapfrog Lazada and become the region’s second-largest e-commerce platform. In early 2025, its daily sales neared $140 million, with Indonesia leading the charge at roughly $6 billion GMV and Thailand closely behind at $5.9 billion GMV.
TikTok Shop’s success is most evident in categories like beauty, fashion, and personal care, where discovery-driven shopping dominates. The platform’s edge lies in converting entertainment into transactions, effectively making every scroll a shopping opportunity.
Shopee’s Established Dominance
Shopee, meanwhile, remains the heavyweight contender. In 2023, Shopee generated $55.1 billion in GMV, securing a 48% market share of Southeast Asia’s $114.6 billion e-commerce economy. Its formula—broad product coverage, strong logistics, gamified engagement, and irresistible promotions—has won over nearly 300 million users.
In 2024, Shopee’s GMV rose another 29.1%, reaching approximately $83.4 billion. While TikTok Shop’s meteoric rise grabs headlines, Shopee’s strength lies in higher-ticket categories—electronics, FMCG, and home appliances—where logistics reliability and brand trust matter most. This mature foundation allows Shopee to defend its lead even as social commerce heats up.
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 brands and retailers, the rivalry is less about choosing sides and more about playing to each platform’s strengths:
- TikTok Shop: Best for content-led discovery, lifestyle products, and younger demographics. Perfect for retailers leveraging influencer marketing and viral campaigns.
- Shopee: Stronger for scale and reliability, higher-value items, and categories requiring robust logistics.
The smart strategy? Dual-track your presence. Use TikTok Shop for discovery, awareness, and impulse conversions, while leaning on Shopee for scale, repeat purchases, and long-term loyalty.
Conclusion
The e-commerce duel between TikTok Shop and Shopee is more than a contest of numbers—it’s a clash of ecosystems. TikTok Shop demonstrates the disruptive potential of social commerce, turning content into commerce at unprecedented speed. Shopee, with its entrenched infrastructure and scale, shows the staying power of a mature platform. Together, they define the future of digital shopping in Southeast Asia.
For retailers, the message is clear: adapt quickly, harness both platforms strategically, and you won’t just survive this showdown—you’ll thrive in it.
Sources: Momentum Works, TechBuzzChina, Tech Collective SEA, Statista, Business Times Singapore, TMO Group【6†SiteGiant Deck.pdf】【7†Zetpy - 1 Control Panel to Sync It All (2024).pdf】