Shopee reaches US$1.8 Billion Annualized GMV within its first year

Shopee reaches US$1.8 Billion Annualized GMV within its first year

Singapore, 1 December 2016 – Shopee announced that it has reached US$1.8 Billion Annualized GMV[1]just a year after its launch, reaffirming its position as Southeast Asia and Taiwan’s leading mobile-first marketplace. With a presence across seven markets within the region, the m-commerce brand secured a month-on-month growth of 43%. To date, Shopee has achieved 25 million downloads of its mobile app[2]and 65 million product listings.

As part of Shopee’s focus on the customer experience, Shopee released the Shopee Consumer Behaviour Report 2016 that revealed region-wide insights around shopping patterns on the mobile app. These insights have outlined a clear roadmap for consumer engagement – enabling the platform to introduce offerings such as integrated local logistics, Shopee Guarantee[3], and social-led features such as the Live Chat and hashtag functions. Shopee has also been bringing together aspiring entrepreneurs over the year, empowering them to be more effective sellers through initiatives such as Shopee University and campus initiatives such as the Shopee X NUS mCommerce Challenge.

“2016 has been great for us,” said Chris Feng, Chief Executive Officer of Shopee. “As we look forward to another exciting year in 2017, we expect to maintain the strong double-digit growth that we've experienced in the past year. We will also continue to focus our efforts on optimizing the product, improving the end-to-end user experience and in empowering entrepreneurs to expand and grow their online businesses.”

Shopee Singapore Consumer Behaviour Report 2016

The report showed that Singaporeans appreciate the freedom and versatility of shopping on a mobile platform, and also prefer a personal touch in the experience. In fact, 70% of Shopee’s customers use its in-app Live Chat feature to engage directly with sellers before making a purchase. The top three reasons for buyers using the chat are – to check the product details, to enquire on stock availability and to review the seller’s credibility. The report also showed that most buyers feel more assured after receiving a reply from sellers through the in-app chat.

The findings indicate that Singaporean shoppers are most active on the app from 12pm to 3pm, with a spike at 12pm. With this in mind, Shopee schedules its daily Timed Sales to commence at noon to reach a wider audience. 

The report highlighted that more than 50% of Shopee’s users access the app daily, with an average engagement period of more than 20 minutes per session. Shopee engages its customers by holding interactive contests and games for customers to win prizes, and also offers innovative social-led features such as the Live Chat and hashtag functions for users to stay ahead of trends.

[1] Gross Merchandising Value: Sale price charged to the customer multiplied by the number of items sold
[2] Shopee is available for download for free on the App Store and Google Play across Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Taiwan.
[3] Shopee’s payment module that protects both buyers and sellers

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