"Science and Technology Innovation Board**" on December 11 (reporter Zhang Yangyang).On the occasion of Indonesia's local "Double 12", TikTok's e-commerce business officially returned to the regional market.
Today (December 11), the reporter of "Science and Technology Innovation Board**" learned from sourcesTikTok has reached an e-commerce strategic cooperation with Indonesia's Goto Group. TikTok's Indonesian e-commerce business will be merged with Tokopedia, an e-commerce platform under the Goto Group, and the combined Tokopedia will be controlled by TikTok. TikTok has also pledged $1.5 billion to fund future business development.
Goto is Indonesia's largest internet technology company, with Indonesia's local e-commerce platform Tokopedia and mobile service platform Gojek. Tokopedia is Indonesia's largest homegrown e-commerce company with a market share of 35%.
TikTok Shop, which entered the Indonesian market in 2021, is the first and largest market for TikTok's e-commerce business and has always been one of the most promising markets for TikTok e-commerce.
According to Fastdata data, TikTok has 32.5 billion users, of which more than one-third are Indonesian users, reaching 12.5 billion, second only to the United States. Until the first half of this year, Indonesia was the country with the largest number of TikTok Shop sales exceeding 10,000 stores, and two of the top 3 stores in the world were from Indonesia. In the live broadcast with goods, Indonesia's total time and total number of people also rank the highest in Southeast Asia.
StillDue to the conflict of interest with local small and medium-sized enterprises, in order to protect local businesses, in September this year, Indonesia's first paper ban banned TikTok's e-commerce business in the country, and on October 4, TikTok Shop Indonesia was officially closed.
But on the other hand, the Indonesian e-commerce market will continue to be the largest market in Southeast Asia in the future. According to statista data, the penetration rate of e-commerce users in Indonesia is expected to reach 85 in 20275%, and the number is expected to reach 244.7 billion, and the total size of the e-commerce market will also exceed 67 billion US dollars.
Leaving this place completely is a big loss for TikTok, and it has also been mediating with Indonesia for the past two months.
Some TikTok Shop sellers said that after the ban was issued, TikTok CEO Zhou Shouzi rushed to the local area to communicate with Indonesia**, although in the end it ended in vain. From October 30 to November 5, 2023, Zhou Shouzi traveled to Indonesia again to meet with the country's ** Joko Widodo (Joko Widodo) to discuss the resumption of TikTok e-commerce business in Indonesia.
For this return to the Indonesian market, a cross-border e-commerce practitioner told the reporter of "Science and Technology Innovation Board**" that for overseas business, symbiosis and localization with the local community will be an increasingly important topic. In the future, TikTok may set up an overseas warehouse in Indonesia, and this alone will add a ** chain, which will greatly improve the efficiency of the receipt of goods for the platform.
The first activity of TikTok e-commerce to return to Indonesia is the Beli Lokal (Buy Local Products) program, which is a project of the Indonesian government to support local micro, small and medium-sized enterprises to develop the digital economy, in conjunction with the local "Double 12" National Shopping Festival. The cooperation statement also said that TikTok will work with Goto to provide a series of support in marketing, branding and internationalization to help local small and medium-sized businesses grow.
Today, TikTok Shop Indonesia has officially resumed its launch. Starting from 9:00 Indonesian time on December 11, 2023, merchants can access the merchant center and manage their products. Users will be able to purchase the product on December 12, 2023 on the TikTok** page, short ** and live channel.