What is Tiki? Tiki Review

Platform Introduction

The categories sold on the TIKI platform include consumer electronics, daily necessities, fashion items, books, etc. There are more than 4,500 brands of goods, more than 300,000 products on sale, and the annual sales value of goods is nearly US$240 million. Tiki also pioneered the "two-hour express" logistics and delivery service TikiNow, which has covered 80% of online merchants.

Platform Advantages

1. The leading local platform familiar with the Vietnamese market

In 2018, the scale of e-commerce in Vietnam reached US$6.2 billion and is expected to rise to US$10 billion in 2020. 89% of Vietnamese consumers go online every day and are keen to buy cross-border products.

2. Have a solid Vietnamese customer base

Tiki has a good reputation among users. Among all e-commerce platforms in Vietnam, it has the lowest return rate and the highest customer satisfaction. Among them, the total consumption of women over 24 years old has increased rapidly, with strong purchasing power, and they have gradually become the main force of e-commerce customers;

3. Owns the largest e-commerce logistics network in Vietnam

As of 2019, TIKI has established 12 storage centers in Vietnam, covering cities such as Ho Chi Minh City, Hanoi, Can Tho, Da Nang, Hai Phong and Nha Trang. 80% of Vietnamese online merchants will choose Tiki's storage centers.

4. Self-built terminal delivery with fast timeliness and high quality

TIKI has a mature self-built Vietnamese logistics system, complete supporting services such as telephone reminders for collection, and full control of product dynamics. TIKI has a very high delivery rate, and its first "two-hour express" logistics distribution service TikiNow has covered 80% of online merchants.

5. Chinese team support

The platform has staff who are familiar with Chinese and any questions can be answered promptly.

Tiki Main Products

Tiki's business covers multiple categories including consumer electronics, lifestyle, fashion and books, offering products from more than 4,500 brands.

Advantages of Tiki

1. Short review time, convenient and quick entry

2. Vietnamese local platforms are familiar with consumer habits and have large local traffic

Platform Logistics

1. For direct mail, use 4PX/three-state logistics service. Other services need to be applied to the platform;

2. The platform requires that the goods arrive at the logistics partner’s warehouse in Shenzhen within 3 working days and be delivered within 10 working days;

3. Please contact 4PX for cost information.

Platform Fees

1. Entry fee: 680 RMB;

2. Commission: Electronic category: 6%, non-electronic category: 10%

3. Other fees: local levy: 2%, final delivery fee: 2%, withholding tax: 1.01%, Payoneer handling fee: up to 1.2%, logistics fee: depending on the logistics provider used.

Tiki Platform Payment

1. Platform fee: Commission (electronic 4%/non-electronic 8%) + local levy 2% + terminal delivery 2% + P card handling fee 1.2% + withholding tax 1.01%

2. Pay back twice a month

3. Only use Payoneer to receive payment, and the remittance currency is Vietnamese Dong

Tiki Entry Requirements

1. Enterprises need to provide business license

2. If you sell branded products, you need to provide proof of brand authorization

Tiki Financing

In early 2016, Vietnam's VNG invested 384 billion VND in the country's e-commerce platform Tiki and became one of the largest shareholders of the e-commerce website.

In January 2018, Tiki completed a Series C financing led by Vietnamese online entertainment and social media VNG Corp and JD.com. This financing made JD.com one of Tiki's largest shareholders.

In June 2019, Tiki Corporation completed a strategic investment of US$100 million from SparkLabs Global Ventures and STIC.

In July 2019, Tiki planned to raise $75 million. Due to the support of Tiki's Korean users, Northstar Group expanded Tiki's financing amount. If Tiki meets certain KPI indicators, Tiki may even raise $150 million in this round of financing.

References

• 1. Tiki, Vietnam's second largest e-commerce platform, received over US$100 million in financing: Baijiahao [cited on 2019-06-23T16:00:00.000Z]