Southeast Asia’s ecommerce GMV hit $128.4 billion in 2024 — but growth has slowed to 12%, down from 15% the year before. Why did it slow down? Should industry players still be optimistic?

In this episode, Sabrina and Weihan, the author of our 3rd Ecommerce in Southeast Asia report break down the key findings.

Tune in as we explore:

• Why Thailand and Malaysia are now the region’s fastest-growing ecommerce markets;

• Thoughts on the industry by ecommerce and third party players

• 4 Key trends we see in Ecommerce

• How enablers are now evolving into brand builders themselves.

Timestamps

00:00:45 – SEA Ecommerce hits $128B, but growth slows to 12%

00:02:00 – Why Thailand & Malaysia are the region’s fastest-growing markets

00:07:30 – SPX overtakes J&T as logistics consolidates?

00:09:30 – Can chinese & local brands challenge global players?

00:12:00 – Will enablers start launching their own brands?

• Featured materials:

  Ecommerce in Southeast Asia report, Momentum Works

  Transforming ecommerce with AI: Sell smarter, shop better
  How AI is unlocking $131B in SEA ecommerce | Impulso E125
  

  
  

  
  

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AI can unlock up to US$131 billion annual ecommerce GMV in Southeast Asia by 2030. With the increasing popularity of ecommerce, we launched a report studying how AI is already transforming the way we shop, and how it will continue to do so in the future.

In this episode, we talk about the average Southeast consumer’s journey with AI, how we use it, and why it can unlock US$131 billion in GMV by 2030.
Are consumers okay with AI listening in on conversations? Is AI listening to our daily conversations, and are consumers okay with it? How are consumers reacting to AI?Tune in to hear our thoughts!

Timestamps:

00:00:30 - Different ways AI is being used in ecommerce How platforms like TikTok recommend products you didn’t know you wanted

00:02:10 - How we, as consumers, use AI

00:03:45 - Does AI enhance the shopping experience?

00:07:30 - AI might not be as helpful as we think now?

00:10:45 — Is AI listening to us? The eerie side of hyper-personalized shopping

Featured materials:

Ecommerce in Southeast Asia report, Momentum Works https://momentum.asia/product/ecommerce-in-southeast-asia-2025/Transforming ecommerce with AI: Sell smarter, shop betterhttps://momentum.asia/product/transforming-ecommerce-with-ai-sell-smarter-shop-better/

Labubu is everywhere - from TikTok edits to custom BBLs, to collectors spending hundreds to make theirs one of a kind. In our previous Labubu episode, we spoke about the business behind Popmart and why it is so popular. In this episode, we go further into the consumer’s psyche, over a toy that has no practical purpose.

Tengian, Elody, and Phyllis discuss:

• How customization, scarcity, and storytelling drive fan culture

• The emotional psychology behind spending on toys with zero utility

• How Pop Mart turned Labubu into its #1 revenue driver — surpassing Molly

• Why fights are breaking out in stores… and what that says about hype economics

  
  

Timestamps

00:01:00: Why people are customizing and giving BBLs to Labubu

00:03:30: The cost of a single collectible (and its emotional value)

00:06:00: Why useless things make better business

00:09:00: Labubu surpasses Molly: Pop Mart’s growth explained

00:11:30 – International hype, bans, and resale frenzy

Featured materials:

E103: Behind Labubu Craze: Popmart Business explained

https://youtu.be/PLIq2UkvgwA?si=zYwDVzisoavFZgjU