This sector remains the largest contributor to the digital economy with GMV of $65 billion.
This post is part of the e-Conomy SEA 2024 blog series , bringing you key insights from Indonesia’s dynamic digital landscape. E-commerce is fiercely competitive, but the sector is set to grow 11% YoY in 2024 to reach $65 billion in GMV. Amid this growth, both incumbents and new players are increasingly focusing on video commerce to stay competitive.
Video commerce, which uses videos to showcase and sell products, has become very popular among Southeast Asian consumers, especially Indonesia, proven to increase engagement and influence buyer decisions. The contribution of video commerce to total e-commerce GMV in Southeast Asia has also increased almost 5 times, from less than 5% in 2022 to 20% in 2024. This surge in video commerce shows the importance of video content strategies to drive effective consumer engagement.
Southeast Asia’s creator economy plays a key role in this shift, with 44% of online shoppers in the region using video in their shopping journey.
As expected, gaming is solidifying its position as the largest creator category. In fact, gaming content creators like Jess No Limit have just reached 50 million subscribers in 2024, the highest number in Southeast Asia. The report also shows an increase in the number of creators in the food, beverage, fashion, and lifestyle categories.
The e-Conomy SEA 2024 report highlights the immense potential of video commerce in transforming the e-commerce landscape. As competition intensifies, leveraging localized, interactive content is critical for platforms looking to capture and retain consumer attention. The use of video-based strategies will be crucial to maintaining growth and competitiveness.
Click to explore the e-Conomy SEA 2024 blog series.
