CFOTO | Future Publishing | Getty ImagesTikTok Shop is a rising threat to major e-commerce players such as Shopee and Lazada in Southeast Asia. TikTok Shop is the e-commerce marketplace of short video app TikTok, which is owned by Chinese tech giant ByteDance. In 2022, TikTok Shop expanded to six Southeast Asian countries — Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. TikTok is "focused on the continued development of TikTok Shop in Southeast Asia," said the spokesperson. To incentivize sellers to join the platform, TikTok Shop waived commission fees when it launched in Singapore in August.

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Persons: TikTok, Shopee, Shawn Yang, Shop's, Sachin Mittal, Lazada's GMV, Jonathan Woo, Lazada, Shou Zi, Woo, bode Organizations: Blue Lotus Research Institute, Sea Group, DBS Bank, CNBC, Intelligence, Phillip Securities Research, TikTok, U.S, Merchants, SG, Phillip Securities Locations: Southeast Asia, India, Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand, Southeast, GMV, U.S, Statista, Brazil, China, U.S ., Montana, Texas, Nomieo