Region Deep-Dive
Southeast Asia
Top languages in this region: Bahasa Indonesia · Tiếng Việt · ไทย · English · Bahasa Melayu
Related platforms are listed under Platform intelligence. Every figure below can be checked in the expanded source text. Platform intelligence.
Key Research
Source notes and the methodology audit that underpin this region.
QHow large is the Southeast Asia ecommerce market, and how is it growing?
Platform GMV $157.6B (2025, +22.8%, Momentum Works); e-Conomy SEA broader ecommerce ~$181B (2025, including non-platform channels)
+22.8% (2025 platform GMV); one of the world's fastest-growing ecommerce regions (Thailand fastest ~+52%)
Expand: original global-report section (country/sub-market detail and sources)
5.5 Southeast Asia (one of the world’s fastest-growing ecommerce regions)
- Total size (two definitions):
- e-Conomy SEA (Google/Temasek/Bain): 2024 Southeast Asia digital-economy GMV $263B (+15%), of which ecommerce $159B; 2025 digital economy over $300B, ecommerce about $181B.
- Momentum Works (platform GMV only): 2024 $128.4B → 2025 $157.6B (+22.8%), with top platforms’ share rising to 98.8%.
- Platform landscape: Shopee is #1 (2025 global GMV $127.4B, of which SEA about $66.8B); TikTok Shop is rising fast (Thailand 2025 revenue ฿54.4 billion, about 4× growth, overtaking Lazada into second place); Lazada is third; Tokopedia has been folded into the TikTok ecosystem. Chinese platforms account for about 50% of Southeast Asia ecommerce GMV.
- Source: https://kr-asia.com/tiktok-sea-alibaba-owned-e-commerce-corner-asean-markets ; https://www.baijing.cn/article/55754 ; https://www.yiofong.com/news/2510312802
- Video commerce is the growth engine: 2025 ASEAN-6 ecommerce transaction value crossed $180 billion, pulled mainly by video/live commerce.
- Source: https://dxpress.gelonghui.com/p/3531912
- Country snapshot (2024–2025):
| Country | Size | Growth / key points | Source |
|---|---|---|---|
| Indonesia | 2025 ecommerce over $46B | Southeast Asia’s largest ecommerce market; Shopee dominant, TikTok/GoTo ecosystem linkage | https://www.globaldata.com/media/banking/indonesias-e-commerce-market-surpass-46-billion-2025-forecasts-globaldata/ |
| Vietnam | 2024 ecommerce $25B (+20%) | Ecommerce already >10% of retail; may reach $70B by 2030; TikTok Shop competing hard with Shopee | https://en.baochinhphu.vn/print/viet-nams-e-commerce-market-up-20-in-2024-111250107155234946.htm |
| Thailand | TikTok Shop 2025 revenue ฿54.4 billion (about 4×) | Ecommerce melee: Shopee vs TikTok Shop vs Lazada; TikTok Shop already profitable | https://m.163.com/dy/article/KVU2461H05118A6A.html |
| Philippines | 2024 about $24.5B | May exceed $75B by 2033; Shopee/Lazada/TikTok Shop as the big three | https://www.amz123.com/kx/SIcwmaDI |
| Malaysia | B2C expected $21.42B by 2029 | e-Conomy SEA 2025 says it has ASEAN’s fastest digital-economy growth | https://www.researchandmarkets.com/reports/6191229/malaysia-b2c-ecommerce-market-size-and-forecast |
| Singapore | B2C $16.39B (2024) → $25.5B (2029) | Platform market +21% in 2024, Shopee in the lead | https://www.globenewswire.com/fr/news-release/2026/01/29/3228356/28124/en/Singapore-B2C-Ecommerce-Industry-Report-2025-A-25-5-Billion-Market-by-2029-from-16-39-Billion-in-2024-Size-Forecast-by-Value-and-Volume-Across-80-KPIs.html |
Definition note: Southeast Asia totals exist in two series — e-Conomy SEA (broad definition, including non-platform and services, $181B/2025) and Momentum Works (platform GMV only, $157.6B/2025); Thailand nationwide ecommerce $200–220B is an extremely broad definition, and Malaysia RM937.5B (9M2025) is a national digital-economy statistic — none of these is directly comparable to B2C GMV.
QWhich are the Top 5 ecommerce platforms in Southeast Asia, and how do they rank?
Top 3 hold 98.8%: Shopee (~53%) + TikTok Shop (~29%, doubled to $45.6B to take #2) + Lazada (~17%); Amazon.sg and Tiki are long-tail estimates (combined only ~1.2%).
Expand: original Top-5 report section (GMV / revenue / users / positioning tables)
7. Southeast Asia
Ranking basis: by Momentum Works Ecommerce in SEA 2026 platform GMV (CY2025 total $157.6B, +22.8%; top 3 hold 98.8%). Another definition, e-Conomy SEA (Google-Temasek-Bain), puts 2025 ecommerce at about $181B (including non-platform channels) — the two definitions must not be mixed. Ranks 4–5 are estimates (Momentum Works only publishes granularity for the top three; the long tail totals only ~1.2%).
| Rank | Platform | Company | GMV 2025 | Share | Positioning & strengths |
|---|---|---|---|---|---|
| 1 | Shopee | Sea Ltd | Southeast Asia $83.2B; global $127.4B (+26.8%) | ~53% | Mass market+gamification+owned logistics (SPX)+SeaMoney; Indonesia share 54% |
| 2 | TikTok Shop (incl. Tokopedia Indonesia) | ByteDance | Southeast Asia $45.6B (about 2×); global about $64B | ~29% | Live/content commerce; after the 2023 Indonesia ban, acquired ~75% of Tokopedia for $1.5B and integrated operations |
| 3 | Lazada | Alibaba | about $26.9B (derived: 98.8%×157.6−83.2−45.6) | ~17% | Alibaba flagship; owned logistics; overtaken by TikTok Shop into third; Vietnam Lazada+Tiki only 3% left |
| 4 | Amazon.sg | Amazon | about $1–2B (est.) | <1.5% | Singapore-focused; Prime Now/Fresh |
| 5 | Tiki | Tiki Corp | about $0.5B (est.) | <1% | Vietnam local platform (electronics/books); share declining |
⚠️ Definition and conflict notes: 1. Two total-size definitions: Momentum Works platform GMV $157.6B (2025) vs e-Conomy SEA ecommerce $181B (including non-platform) — cite the series when quoting. 2. TikTok Shop SEA $45.6B (TNGlobal "~2x") differs from some media "+132%" and Indonesia-only $13.1B (MOCA) (the latter may understate or exclude Tokopedia volume). 3. Do not mix Shopee Southeast Asia $83.2B with global $127.4B; Lazada GMV is a derived estimate (Alibaba does not disclose). 4. "Chinese platforms about 50% of SEA GMV": TikTok Shop (~29%)+Lazada (~17%) ≈46%, plus Temu/Shein (not in the platform GMV series) approaches 50% — partially supported. 5. Country divergence: Indonesia 2025 platform GMV $57.7B (Shopee 54%), growth slowing (Ministry of Trade: ecommerce only +2.2%); Vietnam Top4 platform sales 429 trillion dong (+34.8%), TikTok Shop share up to ~41%; Thailand the fastest growth (~+52%, second-hand).
Sources (selected): Momentum Works — https://thelowdown.momentum.asia/new-report-southeast-asias-platform-ecommerce-reaches-us157-6b-in-2025-with-top-platforms-expanding-share-to-98-8/ ; TikTok Shop SEA — https://technode.global/2026/02/11/tiktoks-southeast-asia-doubles-gmv-year-on-year-to-45-6b-in-2025/ ; Shopee Indonesia — https://www.chwang.com/news/204507076900 ; Vietnam TikTok Shop share — https://zxchuhai.com/202510/44968.html ; Indonesia GMV — https://zxchuhai.com/202604/46514.html
QWhat is worth watching?
- TikTok Shop SEA GMV doubled to $45.6B, overtaking Lazada; Vietnam share rose to ~41%
- Country divergence: Indonesia platform GMV $57.7B (Shopee 54%) growth slowing (ecommerce only +2.2%); Thailand fastest (~+52%)
- Chinese platforms account for ~46–50% of SEA GMV (TikTok Shop ~29% + Lazada ~17%, plus Temu/Shein approaching 50%)
- Do not mix the two definitions: Momentum Works $157.6B (platforms only) vs e-Conomy SEA $181B (including non-platform)
QWhat are the key insights?
- Top 3 hold 98.8%; new-entrant windows are in verticals, content ecommerce, and localized services
- TikTok Shop is SEA's fastest-growing platform (~2x)
- Video/livestream ecommerce is SEA's growth engine (ASEAN-6 2025 ecommerce exceeded $180B)
QAs a merchant, how should I choose and lay out my e-commerce business here?
A practical guide for merchants: which platforms to prioritise in this region, in what order to enter, and what to watch out for.
How to choose a platform
Southeast Asia is a mobile-first, price-sensitive, multi-country market (Indonesia is the largest, with platform GMV of US$157.6 billion, +22.8%). Shopee (53% share, in-house logistics SPX + SeaMoney payments) is the No. 1 choice for the mass market; TikTok Shop (29% share, GMV doubled) suits content/livestream-driven beauty, fashion and FMCG; Lazada skews toward mid-to-high-end brands and an authenticity mindshare; and cross-border low-price players like Temu can serve as a supplement. Pick 1–2 primary countries first (Indonesia/Vietnam/Thailand), then set your platform mix.
Entry path & rollout
Suggested path: start with Shopee for mass-market standard products (largest traffic, broadest logistics coverage); add TikTok Shop for content-driven categories (livestream + short video; its Vietnam share is already about 41%); and go with Lazada for brand building. Languages, payments (high e-wallet penetration) and logistics speed vary widely by country, so we suggest mastering one country and proving a profitable model before replicating; commissions were widely raised in 2025, so price only after modeling the fee rates.
Watch-outs & risks
Shopee Vietnam raised commissions from 3–5% to 4–7% and added a 5% technology fee, prompting a joint protest signed by about 2,000 sellers — fee inflation is a shared risk; Indonesia's social-commerce ban precedent and the KPPU antitrust investigation (TikTok-Tokopedia) show regulation can shift suddenly; Indonesia's overall market growth has stalled (+2.2% per the Ministry of Trade's figures); local warehousing, local payments and local customer service determine retention; and cross-border tariff policy keeps flip-flopping.
Platform quick-fit table
What type of seller each Top platform in this region fits best (click a platform for the full merchant analysis):
| Platform | Best-fit sellers |
|---|---|
| Shopee | Suited to: sellers of price-competitive, volume-driven mass-market categories (apparel, FMCG, home, electronics accessories), especially small/mid sellers wanting to spread across multiple Southeast Asian sites; sellers with cross-border supply chains can also set up in Brazil in parallel. Not suited to: sellers that depend on high AOV/brand premium and lack low-price capability — for them Lazada (brand mindshare) or a standalone site is more advisable. |
| Lazada | Suited to: mid-to-high-end sellers with brand/authenticity mindshare goals, going-global brands that want to leverage Alibaba's cross-border supply chain (apparel, beauty, digital), and merchants that value Lazada Logistics fulfillment quality. Not suited to: volume-driven sellers chasing extreme low prices and maximum traffic (traffic clearly tilts toward Shopee/TikTok Shop). |
| Amazon.sg | Best for brand/factory sellers with a stable supply chain who can carry FBA inventory and advertising costs, and for merchants with a trademark who can enroll in Brand Registry. Full-category coverage; standardized categories like 3C, home, and baby products have clear volume advantages. Not suitable for thin-margin, undifferentiated, or cash-strapped newcomers — fees and competition will quickly eat gross margin; cross-region expansion (Europe/Japan/Middle East, etc.) requires simultaneously addressing VAT and local certifications. |
| Tiki | Suited to: small merchants with local Vietnamese supply chains focused on verticals like electronics/books/mother & baby that value same-day delivery and want to test at small scale, or that use its vertical mindshare for brand testing. Not suited to: sellers chasing scale, or cross-border newcomers without a local entity and Vietnamese-language operations. |
QWhere does this evidence come from?
Underlying research documents for this region (with full source URLs):