Shopee

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Shopee Pte Ltd
Shopee
TypeSubsidiary of Sea Group
Industry
Founded5 February 2015; 6 years ago (2015-02-05)
Queenstown, Singapore
Headquarters5 Science Park Drive, Shopee Building, Singapore 118265
Area served
Southeast and East Asia, Latin America
Key people
Chris Feng (CEO)[1]
Number of employees
20,000+
ParentSea Group (NYSESE)
SubsidiariesShopee Japan Co., Ltd[2]
PT. Bank Kesejahteraan Ekonomi
Websiteshopee.com

Shopee Pte Ltd is a Singaporean multinational technology company which focuses mainly on e-commerce. Headquartered under Sea Group (previously known as Garena),[3] Shopee was first launched in Singapore in 2015, and later expanded its reach: as of 2021, it currently serves consumers and sellers throughout Southeast and East Asia, as well as several countries in Europe and Latin America, who wish to purchase and sell their goods online.[4] Shopee was called one of the "5 disruptive ecommerce startups we saw in 2015" by Tech In Asia for its technical advancement and mass scale, thanks to the mobile and social elements integrated into the model.[5]

History[edit]

In February 2015, Shopee launched in Singapore as a social-first, mobile-centric marketplace where users can browse, shop and sell.[6] Integrated with logistical and payment support, the asset-light platform claims to make online shopping easy and secure for both sellers and buyers.[7][8]

The app-based platform launched a website in order compete with other e-commerce websites in the region such as Coupang, Lazada, Tokopedia and AliExpress. To differentiate itself, Shopee offers online shopping security through its own escrow service called "Shopee Guarantee",[9] where it withholds payment to sellers until buyers have received their orders.[10]

On 3 September 2019, Shopee officially opened its new six-storey regional headquarters at Singapore Science Park. The new building has 244,000 square feet (22,700 m2) of space, which can accommodate 3,000 employees and is six times larger than the previous headquarters at Ascent Building. The building was previously tenanted by WeWork in Singapore. The lease was subsequently relinquished to Shopee as a result of its rapid expansion. By doing so, it strengthens its push into the digital economy.[11][12]

Business model[edit]

Shopee first started as primarily a consumer-to-consumer (C2C) marketplace but has since moved into both a C2C and business-to-consumer (B2C) hybrid model.[13]

Shopee partners with over 70 courier service providers across its markets to provide logistical support for its users.[14] In Singapore, it collaborated with logistics startup NinjaVan for item pickup and delivery.[15] Other delivery partners in the region include Pos Malaysia[16] and Pos Indonesia.[17]

Market share[edit]

As of 2019, the platform recorded 200 million downloads. Shopee also saw gross orders jumping 92.7% to 246.3 million in Q2 2019, compared to 127.8 million a year ago. Its gross merchandise value also surged 72.7% to US$3.8bil in 2Q19 from US$2.2bil a year ago.[18]

According to iPrice's 21 2019 e-commerce report, Shopee was the top Shopping App by Monthly Active Users, Total Downloads and Websites with the Most Visits, ahead of its competitors, Lazada and Tokopedia.[19]

These GMV claims have also led to backlash by Alibaba-backed competitor, Lazada. The former CEO, Max Bittner asserted that GMV numbers can be easily inflated "by subsidy schemes and history shows that GMV falls away as unhealthy subsidies are removed."[20]

Nonetheless, in Malaysia, Shopee became the 3rd most visited e-commerce portal in Q4 2017, replacing Lelong and "overtook Lazada to rank as the best app on both Google Play and iOS App stores."[21]

Similarly among consumers in Indonesia, a survey conducted in December 2017 by theAsianparent revealed that "for Indonesian mothers, Shopee is a first choice shopping platform (73%), followed by Tokopedia (54%), Lazada (51%) and Instagram (50%)."[22]

New launches[edit]

In 2016, Shopee launched an initiative called "Shopee University", a series of workshops and tutorials to aid local entrepreneurs and businesses in setting up their online businesses in the Philippines.[23]

In 2017, Shopee launched Shopee Mall with 200 brands in Singapore and the Philippines.The dedicated portal features thousands of products sold by leading brands and retailers in the region. Shopee Mall was created to offer a more diverse online shopping experience, and to better cater to larger brands looking to pursue an omni-channel approach.[24][25][26]

In 2018, Shopee launched the China Marketplace portal that offers shoppers easy access to products from Chinese merchants, without any shipping and agent fees in Singapore and the Philippines. This portal directly competes with Lazada's Taobao Collection option.[27][28]

Website[edit]

shopee.com
Type of site
E-commerce
OwnerShopee
URLshopee.com (main Singaporean site)
CommercialYes
RegistrationOptional
Launched2015; 6 years ago (2015) in Singapore
Current statusActive

The domain shopee.com links to the main Singaporean website. Shopee is also available in mainland China, Hong Kong, Japan and South Korea as seller centres for cross-border commerce, with plans to also introduce the full website to consumers in these countries in the near future.[citation needed]

Brand ambassadors[edit]

In 2018, Shopee appointed Blackpink as its first-ever regional brand ambassador, as part of its partnership with YG Group. Bambam of Got7 was also appointed as the brand ambassador in Thailand in October of the same year.[29]

In 2019, Shopee secured a partnership with global football icon Cristiano Ronaldo as its regional brand ambassador. The partnership was announced in line with Shopee's signature annual shopping event, 9.9 Super Shopping Day.[30]

In the Philippines, Shopee has spawned seven local brand ambassadors: actress Anne Curtis, singer Jose Mari Chan, television personality Sarah Geronimo, boxer and Senator Manny Pacquiao, influencer Alysza Aldam, television personality Kris Aquino, television host and comedian Willie Revillame, television host and vlogger Alex Gonzaga and television actress Kim Chiu. In 2020, television personality Aquino became the new endorser of Shopee for the 11.11 Christmas Sale, after Chan, who was endorser for the 11.11-12.12 Christmas Sale in 2018 and the 9.9 Super Shopping Day in 2020.[31] Chan later joined Aquino in the 12.12 Christmas Sale in 2020.[32] In February 2021, television host and comedian Revillame was named as Shopee's new endorser for 3.3-4.4 Mega Shopping Sale.[33] Revillame's show Wowowin is a partner of Shopee for their Monthly Double-digit Shopping Sale promotions in 2020 even before Revillame was named as Shopee's endorser in 2021. Although Revillame is the new Shopee endorser in 2021, he appears in online advertisements, while Kris Aquino remains the endorser for the 3.3-4.4 Sale in TV commercials and YouTube videos.

In August 2020, Phua Chu Kang, a classic role from a Singaporean sitcom that was played by Gurmit Singh was announced and signed as Shopee's first Singaporean brand ambassador.[34] It later appointed Mark Lee as Shopee's next ambassador in May 2021.[35]

In Indonesia, Shopee has recruited 2 local brand ambassadors: late singer Didi Kempot and singer Nella Kharisma in 2020. Some Indonesian celebrities also became local brand ambassadors, such as actress Prilly Latuconsina, actor Maxime Bouttier, singer Via Vallen, and singer Rizky Febian in 2018, legendary rock band Slank and singer Syahrini in 2019, and also former member and general manager of JKT48 Melody Nurramdhani Laksani for Shopee Barokah and comedian Tukul Arwana in 2020. In 2020 too, Korean boy group Stray Kids took over as brand ambassador of Shopee Indonesia for the 11.11 Big Sale and 12.12 Birthday Sale.[36][37] In beginning of 2021, two soap operas actor and actress Amanda Manopo and Arya Saloka from mega-hit soap opera Ikatan Cinta (Love Ties) was signed as Shopee's local brand ambassadors.[38] In 2021 too, actor and martial artist Joe Taslim was signed as Shopee's local brand ambassadors for the Shopee 9.9 Super Shopping Day.[39]

In June 2021, BtoB was selected as the official ambassador for Shopee's K-Collection, a Korean brand exhibition in which 50 domestic small and medium-sized enterprises participate through Shopee's Live Shopee Singapore, Shopee Malaysia, Shopee Philippines, and Shopee Vietnam. The group will introduce products directly through 'Shopee's Live' and hold an exclusive online fan meeting to actively attract local K-pop fans as customers.[40]

IPO[edit]

Shopee's parent company, Sea Group, filed for an initial public offering on the New York Stock Exchange (NYSE) in October 2017 for US$1 billion.[41] Tencent is the main beneficiary of the Sea listing with a 39.7% share while Blue Dolphins Venture — an organization set up by founder Forrest Li — holds 15%. Li himself has 20%, and Chief Technology Officer, Gang Ye holds 10%.[41]

Awards[edit]

In 2015, Shopee was awarded the Singapore Startup Of The Year in the second edition of Vulcan Awards, presented by Singaporean digital publisher, Vulcan Post.[42]

References[edit]

  1. ^ "Chris Feng".
  2. ^ "ShopeeでJAPAN FINESTキャンペーンがスタート。海外現地モールで日本直送品の露出枠が拡大。".
  3. ^ "Garena Rebrands as Sea After Raising $550 Million in New Funding". 8 May 2017. Retrieved 21 March 2018.
  4. ^ Iwamoto, Kentaro (16 November 2021). "Sea expands globally with European e-commerce, U.S. investment". Nikkei. Retrieved 19 November 2021.
  5. ^ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 22 March 2021.
  6. ^ [1], "Garena And Its Quest To Take Down Carousell With Newly Launched Shopee App". Vulcan Post. 3 August 2015. Retrieved 28 March 2018
  7. ^ [2], "Safe, easy shopping with Shopee". The Straits Times. 9 September 2015. Retrieved 28 March 2018
  8. ^ [3], "How Shopee plans to reign supreme in Southeast Asia’s fashion ecommerce scene". Tech In Asia. 06 November 2017. Retrieved 10 December 2017
  9. ^ [4], "Garena’s Shopee could be on its way to beating Carousell in Asia". Tech In Asia. 24 November 2015. Retrieved 10 December 2017
  10. ^ [5], "5 disruptive ecommerce startups we saw in 2015". Tech In Asia. 11 December 2015. Retrieved 21 March 2018
  11. ^ Heng, Melissa (3 September 2019). "Shopee opens new regional HQ in line with Singapore's push into digital economy". The Straits Times. Retrieved 9 September 2019.
  12. ^ "Grand Opening of Shopee Headquarters Building". PMO. 3 September 2019. Retrieved 20 September 2019.
  13. ^ [6], "The Natural Progression of C2C Business Models, Garena Shopee’s Venture into B2C". ecommerce IQ. 22 May 2017. Retrieved 10 April 2018.
  14. ^ [7], "Sea Limited Form F-1". U.S. Securities and Exchange Commission. 18 October 2017. Retrieved 10 December 2017
  15. ^ [8], "CEO Chris Feng On Shopee's Rise In Southeast Asia, & Avoiding Carouhell". Vulcan Post. 16 December 2015. Retrieved 29 March 2018
  16. ^ [9], "Shopee partners up with Pos Malaysia". Marketing Interactive. 6 January 2018. Retrieved 10 April 2018
  17. ^ [10], "Bizzy acquires Alpha; Shopee partners Pos Indonesia". Deal Street Asia. 10 May 2017.
  18. ^ "e-commerce platform Shopee confident of sustaining strong growth". The Star Online. 18 October 2019. Retrieved 22 October 2019.
  19. ^ "iPrice report has Shopee down as the most popular shopping platform in Southeast Asia". kr-asia.com. 22 August 2019. Retrieved 22 October 2019.
  20. ^ [11], "Lazada slams Sea's claim that Shopee is the top regional ecommerce player". Tech In Asia. 27 September 2017. Retrieved 28 March 2018
  21. ^ [12], "Who leads e-commerce in Malaysia? Lazada or Shopee?" e27. 21 March 2018. Retrieved 2 April 2018
  22. ^ [13], "Shopee found to be the most popular e-commerce site for Indonesian mothers". Marketing Interactive. 6 April 2018. Retrieved 10 April 2018
  23. ^ [14], "Shopee teams up with Facebook to help leading retail brands strengthen their eCommerce presence". Manila Bulletin. 07 September 2017. Retrieved 10 December 2017
  24. ^ [15], "Shopee opens online mall for consumers". Singapore Business Review. 18 July 2017. Retrieved on 10 December 2017
  25. ^ "Online shopping easier with Shopee mall". Manila Standard. Retrieved 22 March 2021.
  26. ^ "Shopee officially launches Shopee Mall | AdoboTech". www.adobotech.net. 4 April 2018. Retrieved 22 March 2021.
  27. ^ [16] Archived 18 April 2018 at the Wayback Machine, "Shopee launches China Marketplace portal with free shipping to rival Lazada". Business Insider Singapore. 1 March 2018. Retrieved 21 March 2018
  28. ^ "Shopee-China-marketplace". Retail News Asia. Retrieved 22 March 2021.
  29. ^ Tan, Janice (30 November 2018). "Shopee taps K-pop group BLACKPINK as first-ever regional brand ambassador". Marketing Interactive. Retrieved 22 October 2019.
  30. ^ "Cristiano Ronaldo signs on with Asian e-commerce platform Shopee". FOX Sports Asia. 16 August 2019. Retrieved 22 October 2019.
  31. ^ "Shopee 11.11 Big Christmas Sale with Shopee's New Brand Ambassador: Kris Aquino!". www.youtube.com. YouTube. 21 October 2020. Retrieved 3 November 2020.
  32. ^ "Shopee 12.12 Big Christmas Sale Na!". www.youtube.com. YouTube. 23 November 2020. Retrieved 27 November 2020.
  33. ^ "Wowowin: Willie Revillame, the newest Shopee Brand Ambassador!". www.youtube.com. YouTube. 23 February 2021. Retrieved 3 March 2021.
  34. ^ Van, Tong (23 August 2020). "Phua Chu Kang signed as Shopee's first Singaporean brand ambassador". Inside Retail.
  35. ^ Shadrach, Darshan (28 May 2021). "First PCK, now Mark Lee: Why Shopee SG is banking on a hyper local marketing strategy". Marketing. Retrieved 12 June 2021.
  36. ^ "Ini Dia Brand Ambassador Baru Shopee Sekaligus Guest Star Spesial di TV Show 11.11 Big Sale!". www.youtube.com. YouTube. 4 November 2020. Retrieved 18 November 2020.
  37. ^ "Shopee x Stray Kids - Shopee 12.12 Birthday Sale". www.youtube.com. YouTube. 17 November 2020. Retrieved 18 November 2020.
  38. ^ Berita, Bagikan (4 April 2021). "WOW, Shopee Gandeng Arya Saloka dan Amanda Manopo sebagai Brand Ambassador Indonesia - Bagikan Berita". bagikanberita.pikiran-rakyat.com (in Indonesian). Retrieved 4 April 2021.
  39. ^ Khoirunissa, Jihaan. "Gaet Joe Taslim, Shopee Gelar Kampanye 9.9 Super Shopping Day". detikhot (in Indonesian). Retrieved 19 August 2021.
  40. ^ Kim, Soo-bin (17 June 2021). 쇼피, K-컬쳐 페스티벌 '케이콘택트 포 유' 연계 기획전 진행 [Shopee, K-Culture Festival 'K Contact for You' related special exhibition] (in Korean). Asia A. Retrieved 29 June 2021.
  41. ^ a b "Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO". 24 September 2017. Retrieved 12 November 2020.
  42. ^ "The Winners Of The 2015 Vulcan Awards: GrabTaxi, Airbnb, WhatsApp & More!". 14 December 2015. Retrieved 29 March 2018.

External links[edit]