Beauty has remained an attractive market in Indonesia by 20% uplift from in the past 5 year. In the study by Kantar, also found that lip products have significant growth after mask requirement has been uplifted and mobility recovery.
Indonesia itself expected to earn 359.3 mio USD for this segment.
Overall, Shopee dominating e-Commerce market from Jul to Dec 2023 delivered 83.9% over market share, leaving Tokopedia with 16.1% share.
Even though Shopee still dominating the lip market, yet Tokopedia shows significant growth from Q3 to Q4 with 34.7% GMV uplift while shopee declining 11.1%
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