Singapore doesn’t have enough talent for live stream selling

🇸🇬 Going weak: Livestream selling hasn’t fully taken off as strong as other countries in Southeast Asia. Orders increase by 30% and gross merchandise value growing by 25%.

❓️ Reasons why: There’s a lack of personality and talent in Singapore to be effective live sellers (or to be entertaining salespeople). According respondents to a NinjaVan survey: effort & energy (25%) and time (33%) are also a big part of the challenge.

Some other reasons include:

• 🏪 Retail stores in Singapore are already close and convenient

• 💄 Live selling is best in industries that chase trends (fashion, beauty)

📱 Where they are: Currently, Singapore live streamers use Shopee (33.7%), Facebook (25.3%), TikTok (14.2%).

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TikTok is trying to get a permit to sell in Indonesia again

📝 Indonesia’s permit: TikTok is currently in talks about securing an ecommerce permit from the Indonesian government to revive its shop, a form meant to protect its own small local businesses.

⚖️ Ban hammer: Indonesia banned ecommerce on social media because of data privacy issues and the threat to local SMEs from the low prices. TikTok at the time didn’t have a permit, so they got banned themselves.

♟️ TikTok’s next move: Deputy trade minister Jerry Sambuaga said that as long as their move complies with the law, the issue would be resolved. TikTok could also possibly merge with Tokopedia, one of the largest ecommerce platforms in Indonesia, and could result in a new platform all together.

Pinduoduo threatens Alibaba’s throne

👑 A new king: 8 year old Pinduoduo (PDD) is catching up to the aging 24 year old giant Alibaba in market cap ($188.3B vs. $189.5B) last Thursday. Even Jack Ma feels the pressure, telling employees at Alibaba to keep their heads high and innovate.

📈 The numbers: PDD generated $21.8 billion in revenue (94% growth) from first three quarters of 2023. Temu is also the #1 app for the past 3 months. Alibaba had a rough couple of months. Earnings were only up 4% and they recently canceled their IPO on a cloud spinoff because of computer chip export restrictions.

🔎 The Pinduoduo way: PDD and Temu (a subsidiary), fueled their growth by offering group discounts and low prices. Their group discounts were unique as they let buyers get lower prices by inviting more friends. They grew from 0 to 200 million users in 2 years.