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[0] => Indonesia stands out as one of Southeast Asia's fastest-growing eCommerce markets. The country's population of 270 million, its young demographic, and an annual GDP growth rate of 5% are the main drivers behind Indonesia's eCommerce expansion. Additionally, Indonesia boasts approximately 97 million middle-class and affluent consumers, indicating substantial market potential.
In June 2024, the total sales revenue of the Shopee and Lazada in Indonesia reached approximately $1.16 billion, with a year-on-year growth of around 84%. Apparel & Fashion and Health & Beauty were the most popular categories. The following analysis will provide insights into the sales data for the month in Indonesia.
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[0] => Platform Performance: Shopee Indonesia generated approximately USD 1.08 billion in sales in June, ranking second among the six Southeast Asian countries. Lazada's sales revenue reached about $82.64 million. Stay tuned to TMO as we continue to monitor the trends in Vietnam's eCommerce market throughout the year.
In terms of categories, on the Shopee platform, Apparel & Fashion led with a market share of 27.3%, followed by Health and Beauty with a market share of 19.3%. On the Lazada platform, the most popular categories were Health & Beauty and Home & Lifestyle Supplies. These two categories accounted for nearly 40% of the market share.
With regards to best-selling products:
- In the Health and Beauty category on Shopee, Indonesian consumers are primarily focused on exfoliation, sunscreen, anti-aging, and cleansing. Exfoliating essences and sunscreen were the best-selling items. In the Electronics and Accessories category, Chinese brands stand out. Smartwatches and smart phone from Xiaomi and Huawei made it to this month's best-selling products list.
- In Lazada's Health and Beauty category, matte lipsticks were selling exceptionally well. It's worth noting that in the Electronic accessories category, Xiaomi, a Chinese brand, also performed prominently, with its waterproof sports watches ranking in the top 5 best-selling products, showcasing its advantages in functionality and cost-effectiveness.
Download the Full Free Report for More Exciting Insights!
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[0] => In the wave of cross-border e-commerce sweeping Southeast Asia, Thailand is considered one of the most promising markets in this region, mainly due to its sizable young consumer base and growing middle class population. According to the "Thailand - Country Commercial Guide" released by the U.S. Department of Commerce International Trade Administration in January 2024, Thailand has approximately 43.5 million e-commerce users, with 17-36 year-olds being the main force, accounting for 62% of Thailand's e-commerce market. The influx of more young users has played a significant role in driving e-commerce sales in Thailand. In addition, affluent Thai online shoppers have strong brand awareness, and as this group continues to grow, it is bound to inject new vitality and business opportunities into the Thai e-commerce market.
The cross-border e-commerce market in Thailand is vibrant. According to the "Thailand - Country Commercial Guide," cross-border e-commerce accounts for 30% of the entire Thai e-commerce market, and nearly half of online shoppers have experience shopping on cross-border e-commerce platforms. In February 2024, the total sales revenue of the two main platforms Shopee and Lazada in Thailand reached approximately 762 million.
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Platform Performance: Shopee's sales are higher than Lazada's. In February 2024, Shopee's sales in the Thai market were 650 million, ranking fourth among the six Southeast Asian countries. Lazada's sales revenue reached 110 million, also ranking fourth among the six countries. Keep an eye on TMO as we continue to observe the trends in the entire Thai e-commerce market this year.
In terms of categories, on the Shopee platform, electronic products and accessories occupy the top spot with a market share of 31.5%, followed by clothing and fashion, and health and beauty, with market shares of 15.4% and 14.3% respectively. On the Lazada platform, the most popular category among consumers is home and living, accounting for 19.1% of sales, followed by health and beauty (14.9%) and women's fashion and accessories (11.0%).
With regards to best-selling products:
- In the electronic products and accessories category on the Shopee platform, smartphones are still the most popular electronic products. Thai consumers have a high brand preference, with Apple smartphones occupying three out of the top five spots in the sales rankings. It is worth noting that the sales revenue of home appliances accounted for around 40% market share, which was almost the same as that of electronic products and accessories. Chinese brands TCL and Hisense have entered the top five in the sales rankings. In the health and beauty category, weight management products are the best-selling products.
- In the health and beauty products category on the Lazada platform, perfumes have gained great popularity.
Download the Full Free Report for More Exciting Insights!
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We list the top 5 products (by revenue) in each category, their price, sales volume, name, and picture.
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If you are looking to dive deeper into Southeast Asia's eCommerce market, look no further than our expert team! With our thorough research and analysis, you'll gain a deep understanding of your niche, including market structure, size, and emerging trends. We'll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.
Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia's eCommerce market!
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Starting February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada's marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers' understanding of the top products, we will also translate the parts containing local languages into English.
The country plan for 2024 is as follows: Indonesia (January), Thailand (February), Malaysia (March), Vietnam (April), Indonesia (May), Singapore (June), The Philippines (July), Vietnam (August), Thailand (September), The Philippines(October), Singapore (November), and Malaysia (December).
At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers' needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!
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