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Shopee’s mobile-first approach aims to enable digital payments in Southeast Asia and strengthen its merchant ecosystem
Shopee and Visa sign five-year strategic partnership to power the digital growth in the region and provide services for MSMEs to digitalise their businesses
Tapping the potential of e-commerce market
In the digital era, companies are establishing their own super apps or super platforms to grow beyond their core business and expand to other services. Tencent, Alibaba, Grab, and GoJek are some of the companies that have leveraged their platforms and succeeded to scale their ecosystem of services. Among recent players aiming to expand their business is Shopee, an e-commerce platform in Southeast Asia and Taiwan.
Southeast Asia is still at the nascent stage of growing its digital economy. As the young and tech-savvy population comes online, the region is shaping to become one of the fastest growing e-commerce market globally. Terence Pang, chief operating officer of Shopee, highlighted the opportunity in building a digital-first business in Southeast Asia. “There is a large untapped potential in the fastest-growing e-commerce market in the world. Overall, the region’s gross merchandise value (GMV) grew 23% from 2018 to 2020, faster than that of China, India, and the US.”
Pandemic accelerated digital drive
Shopee exhibited leadership in Southeast Asia and Taiwan in the shopping category by average monthly active users and total time spent in-app on Android as of the second quarter of 2020 (2Q2020). According to mobile data and analytics platform App Annie, Shopee ranked first in the shopping category by downloads in Southeast Asia and was among the top three worldwide by downloads in the same category in 2Q2020.
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