The given bar chart compares the total sales revenue of four major e-commerce platforms in Southeast Asia between 2020 and 2023.
Overall, Shopee remained by far the dominant platform throughout the period, while TikTok Shop experienced the most dramatic growth. By contrast, Lazada and Tokopedia both increased initially before declining in 2023.
Looking first at the two fastest-growing platforms, Shopee was by far the largest platform in terms of sales revenue. Initially standing at $24.3 billion in 2020, Shopee’s sales revenue nearly doubled to $47.9 billion in 2022 before reaching $55.1 billion in 2023. By contrast, TikTok Shop started from a much lower base, with sales revenue of just $0.6 billion in 2021. However, its figure then skyrocketed over the following two years, growing by over $15 billion and reaching the same level as Tokopedia, at $16.3 billion in 2023.
Moving on to the remaining enterprises, both Lazada and Tokopedia generally saw an increase in their total sales revenue despite some fluctuations. Despite strong growth in revenue from $13.1 billion to $21 billion, Lazada’s figure declined slightly to $18.8 billion by 2023, yet it still remained as the second-highest platform in terms of sales revenue. Similarly, Tokopedia’s revenue grew from $10.9 billion to $18.4 billion between 2020 and 2022, before dropping to $16.3 billion in 2023, the same figure recorded by TikTok Shop.