According to a report by the overseas technology media Tech in Asia on October 30, at the Southeast Asian App Summit held in Hanoi, Vietnam, the short video platform TikTok announced that its user base in Southeast Asia has exceeded 460 million. Among them, Indonesia has the largest number of users, exceeding 160 million. Vietnam and Thailand have 70 million and 50 million users respectively. The rest of the users are distributed across other parts of Southeast Asia.
Screenshot of the Tech in Asia report
TikTok stated that the platform is widely used in industries such as gaming, finance, and retail in the region, to promote business growth.
According to reports, the gross merchandise volume (GMV) of TikTok Shop in Southeast Asia reached 38.2 billion U.S. dollars. The average order value (AOV) in Indonesia is close to 5 U.S. dollars, while in the United States it is about 30 U.S. dollars. This indicates that compared to Western markets, the AOV in Southeast Asia is lower, but the frequency of user purchases is higher. More than 95% of TikTok Shop's transaction volume comes from the region.
The commercialization data of TikTok also became a highlight. According to the report, a study on TikTok's marketing mix showed that its short-term return on ad spend (ROAS) in Southeast Asia reached 1.7 times, meaning that for every 1 U.S. dollar invested, 1.7 U.S. dollars in revenue can be obtained. TikTok said that in Southeast Asia, when merchants run ads on the platform and simultaneously cooperate with television media for more than four weeks, sales are expected to increase by 9.4%.
In addition, TikTok expanded the scale of the "Marketing Partner Program," adding nine new local agency institutions in Southeast Asia, and included Australia in the cooperation scope, strengthening regional service capabilities.
It is understood that during this event, TikTok signed a memorandum of understanding with the Digital Transformation Center under the Vietnamese Ministry of Culture, Sports and Tourism to support Vietnam's digital transformation, promote cultural exchange, drive digital growth, and help local businesses. Tech in Asia analyzed that Southeast Asia is a key region in the global digital market. This cooperation indicates that TikTok is increasing its investment in the region.
Original article: https://www.toutiao.com/article/7566930833504797247/
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