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TikTok faces obstacles to becoming No. 1 in Vietnamese e-commerce, expert says
Regulatory risks could derail TikTok’s bid to become Vietnam #1 Online Marketplace, said an industry expert. The short video application owned by ByteDance Ltd. launched TikTok Shop in the Southeast Asian country in April 2022 as part of its broader ambition to control 35% of the region’s e-commerce market. Since then, it has overtaken Lazada, backed by Alibaba Group Holding Ltd., to become Vietnam’s second-largest online marketplace by gross merchandise volume — TikTok sellers have sold around 1.3 billion worth of dollars worth of merchandise over the past six months, according to local media citing data from local analytics firm Metric. Now, only Singapore-based Shopee sits between TikTok and the top spot.
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