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TikTok Shop was closed down as a result of Indonesia’s recent imposition of new restrictions that forbid online shopping to protect local businesses.
What the numbers say: In 2022, the Indonesian e-commerce sector was estimated to be worth $52B, with TikTok’s revenues accounting for about $2.5B of that total. TikTok introduced TikTok Shop in its Indonesian market with 125 million users, and it has since expanded to several other countries, including the U.S.
Relevance: Indonesian officials had expressed worries about TikTok Shop’s potential effects on the nation’s small companies. The crackdown in Indonesia can create a standard and have an effect on TikTok Shop in other nations. In Indonesia, the platform hosts 6 million sellers.
More data: TikTok’s CEO committed to a significant investment in Southeast Asia, with a substantial user base of approximately 325 million. While TikTok faced restrictions in several nations for political and security reasons, it was in preliminary discussions with Indonesian authorities to secure a payment license.