He noted that e-commerce platform Shopee was still the most preferred online marketplace in the Southeast Asian region. Lazada, meanwhile, has the highest spend per shopper at P2,500.
Robertz said that TikTok Shop was “quickly rising as a relevant channel in the Philippines and Southeast Asia.” Locad noted there were 20 million Filipino TikTok shoppers as of the first quarter. Sales from TikTok Shop in the region were projected to amount to $12 billion this year, up from $4 billion to $5 billion in GMV last year.Top retail categories for the popular social media platform include fashion, apparel, shoes, beauty and personal care.
In January, Locad raised $11 million from a “series A” funding round led by Reefknot Investments, a firm backed by Temasek and logistics company Kuehne & Nagel.