Indonesians spent more money on the Chinese-owned app than anywhere else in the region over the past year, as TikTok Shop rapidly gained a substantial regional market share and millions of sellers since its 2021 launch.
“I don’t know where they source their products to sell at such low prices. Ours are our own products and we cannot sell them at that price,” he said.After a daily revenue drop of more than 80 percent from 30 million rupiah to five million in recent months, he was forced to lay off five of his 30 employees.
The draft regulation, expected to be presented soon after Widodo said Monday it was “being finalised in the trade ministry”, will aim to curb what Jakarta says are monopolistic practices.Experts say such regulation would create a level playing field for local businesses. Indonesia is TikTok’s second-largest market, with 125 million users, according to company figures. It is owned by Chinese tech giant ByteDance.