What is Shopee? Shopee Review

Basic Introduction

Shopee is headquartered in Singapore and is a leading e-commerce platform in Southeast Asia, covering markets such as Singapore, Malaysia, the Philippines, Indonesia, Thailand and Vietnam. It also has cross-border business offices in Shenzhen, Shanghai and Hong Kong, China. The company was founded by Li Xiaodong in 2009.

Shopee's parent company Sea is the first Southeast Asian Internet company listed on the New York Stock Exchange (stock code SE). Its e-entertainment, e-commerce and e-finance businesses are second to none in Southeast Asia and other markets. Sea's philosophy is to use the power of technology to improve the lives of local consumers and small and medium-sized enterprises.

Shopee was first launched in Singapore in 2015 and is currently the largest e-commerce platform in Southeast Asia. It has now expanded to Malaysia, Thailand, Indonesia, Vietnam, the Philippines and Taiwan. Shopee provides online shopping and sales services to users in Southeast Asia. It also has offices in Shenzhen, Shanghai and Hong Kong, China. It was listed on the New York Stock Exchange in October 2017, with Tencent holding a 40% stake. In 2018, the total transaction volume reached US$10.3 billion, a year-on-year increase of 149.9%, and the number of APP downloads exceeded 195 million. The current number of employees is more than 8,000.

Entry conditions

Currently, Shopee only opens cross-border business to Chinese corporate sellers (including mainland China, Hong Kong, and Taiwan), and adopts an invitation-based admission system. Sellers applying for admission must provide their company's business license.

Settlement information

1) The merchant is registered as a business and has a legal business license from mainland China or Hong Kong;
2) Photo of the legal person’s ID card and photo of the legal person holding the ID card;
3) SKU quantity (the number of SKUs should not be less than 200);
4) Order/sales screenshots (weekly/monthly order charts);
5) Operation status of other cross-border platforms (post store URL).

Settlement process

Official website submission - fill in company information on the official website - connect with the investment manager - send application materials - pass the review - open an account.

Cross Border mailbox delivery - send application materials - contact with investment manager - confirm that application materials are complete - pass the review - open account.

Speed ​​of development

The largest e-commerce platform in Southeast Asia and Taiwan;

The app has been downloaded more than 80 million times in the two years since its launch;

The number of sellers on the platform exceeded 4 million;

Annualized GMV has exceeded US$5 billion.

Site Introduction

1. Taiwan and Malaysia are the first choice for Shopee. They are also the two most mature, most frequent and easiest sites to place orders. The Taiwan site has the highest average order value, a logistics time of about 5 days, and can communicate directly in Chinese. The purchasing power of the Malaysian people is also good, with a time of about 7-10 days, and communication is mainly in English.
However, since these two sites are the preferred sites, they are also the sites with the largest and most concentrated number of Chinese sellers, and the price war is very fierce.

2. Indonesia and Thailand are currently Shopee’s fastest growing sites and will be the first and second largest markets for Southeast Asian e-commerce in the future.
However, both sites are located in countries with small languages ​​and cannot communicate directly in English. Although Shopee officially provides customer service and hot-selling product translation services, the efficiency is currently slow.

3. The Philippines and Vietnam sites are the second and third most populous countries in Southeast Asia, with huge market potential. The Philippines site is relatively complete, it is not difficult to place orders, and you can communicate directly in English. The Vietnam site is a country with a small language, and you cannot communicate directly in English, but the Vietnam site has the highest conversion rate.

4. Singapore site:
There are many Chinese people here, and communication can be done in Chinese and English. The e-commerce construction is also the best in Southeast Asia, and the logistics timeliness is also relatively fast, but the market is relatively small.

Platform Advantages

1. Efficient logistics

Lay an efficient logistics network, deepen service quality, establish self-built logistics SLS, and solve cross-border logistics problems

2. Safe and fast payment collection

Sellers can withdraw funds through Payoneer. The transaction is safe and fast. The platform pays twice a month at the middle and end of the month.

3. Powerful management platform

The backend provides functions such as batch new products, order tracking, sales reports, etc., meeting store management needs in one stop

4. Local customer service

The customer service team is highly localized, covering minority language areas, and currently provides free customer service to solve language problems

5. Product recommendations

Provide product selection suggestions and operation information every week to help you gain a deeper understanding of the market, accurately select products, and easily create hot products

6. API Integration

Connect with the mainstream domestic ERP, efficiently manage products and orders, and flexibly customize the most suitable backend system for you

Development History

Founded in 2015, Shopee is the leading e-commerce platform in Southeast Asia and Taiwan, covering Singapore, Malaysia, the Philippines, Taiwan, Indonesia, Thailand and Vietnam.

Shopee launched in Singapore in 2015 as a social-first, mobile-centric marketplace where users can browse, shop and sell anytime, anywhere.

On October 28, 2015, Shopee Auctions was officially launched in Taiwan and entered the C2C e-commerce market, featuring the 30-second “bid and sell” feature.

On April 17, 2017, Shopee Auctions began charging a 0.5% transaction fee and a 1.5% credit card transaction fee.

On July 3, 2017, Shopee Auction launched a new "Shopee Mall" service to seize B2B2C business opportunities.

On August 24, 2017, Shopee Auction was officially upgraded to Shopee Shopping.

On March 14, 2018, Shopee launched the "Shopee 24h" shopping center, announcing its entry into the B2C market and providing 24-hour fast delivery.

Revenue

In 2017, GMV reached 4.1 billion US dollars and the total order volume was 245 million.

In 2018, GMV reached 10.3 billion US dollars.

In 2018, there were 11 million orders on Double 11, and 12 million orders on Double 12 in 2018.

The number of downloads of Shopee APP exceeded 195 million, ranking first in Southeast Asian shopping app downloads in 2018.

References

• 1. Shopee platform advantages: Shopee official website [reference date 2018-03-04T16:00:00.000Z]