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The e-commerce giant at home Shop In its non-metropolitan cities, the customer base is growing and the platform for its customers and merchants is improving, said Terence Pang (COO) CEO at the Shopee Brands Summit 2022 last Thursday (January 13th).
While brands such as Samsung, Addidas and Reckitt were present at a fascinating event – the second such edition – to collect awards for their many achievements on the platform, Terence came up to share the company’s annual strategies and roadmap. forward.
Although the company is named the largest e-commerce platform in Southeast Asia and Taiwan, it still sees room for growth.
He added that e-commerce accounts for nine percent of the region’s total retail share, which is far from 18 percent to 40 percent in China and the United States.
Although Covid-19 has a positive outlook for e-commerce, it is next to GST
When I first entered e-commerce in 2012, we used Facebook and Google ads to attract consumers to our platform and hoped to convert. Now, consumers are proactively moving to the platform to look for goods.
– Terence Pang, Shopee COO
In an e-mail response, Terence told the Vulcan Post that “the pandemic has developed more of the first digital habits among consumers, including the need for e-commerce for needs, which are likely to continue as we move back to normalcy.”
According to Shopee, its platform has become the first point of contact for consumers who want to buy a product or get a deal, as the search volume of Shopee Mall brands has doubled between 2019 and 2020.
With this growing trend, the e-commerce platform plans to continue working with partners like Facebook and Google to “help brands drive traffic from multiple channels to Shopee stores.”
This includes integrating Facebook ads into its Seller Center, allowing merchants to purchase ads directly on their social media platform, he announced.
asked tax on incoming goods and services (GST) on imported goods and services It would affect Shopee’s sales, Terence did not comment specifically, but the company shared that “it will continue to work closely with the Singapore government to support the growth of Singapore’s e-commerce landscape”.
In the 2021 budget, Deputy Prime Minister Heng Swee Keat and Finance Minister announced that GST will be imposed on all imported goods from 2023 onwards, including low-value goods.
It aims to be “as intrusive as possible” in the lives of consumers
At the brand’s summit, Terence also announced that Shope intends to focus its goal on consumers outside of big cities.
He noted that Shopee Premium – a feature dedicated to premium brand items – took up more than half of its orders in 1-tier metropolitan cities and increased traffic eightfold.
He argued that the platform was able to reduce logistics costs by less than 10 percent of the cost of the product, increasing the density of orders outside metropolitan areas.
For Shopee, this group of customers outside of Level 1 cities will be “key” for the next two to three years.
As e-commerce has become more integrated into the lives of consumers, shoppers have also come to know the mega-calendar of shopping events and are looking to buy the best deals on monthly double-digit campaigns such as 9.9, 11.11, 12.12. In response to this demand, we are constantly improving the experience of buyers and sellers.
– Terence Pang, Shopee COO
To attract more customers, Shopee is constantly improving the experiences of consumers and retailers and has no plans to stop doing so in 2022, Terence said.
As part of its commitment, the company has announced that it intends to launch a new 3.15 Consumer Day campaign on March 15, which will be the first purchase event of the year.
He also stressed in Thursday’s speech that Shopeefood – a food delivery service in Indonesia, Malaysia and Thailand – was one of the company’s initiatives to continuously attract consumers as part of their lifestyle.
“It’s not just about the food distribution business that interests us, but how can I get involved and find more ways to get involved and participate in the lives of my consumers? We’re after that, ”Terence said.
We need to consider what the consumer would remember and be as intrusive as possible in his or her life.
– Terence Pang, Shopee COO
What’s next for Shopee?
Asked about the company’s plans to expand its SPayLater “Buy Now, Pay Later” (BNPL) scheme, Terence said “they are already offering BNPL at times. [its] markets ”.
Shopee’s SPayLater is available in Indonesia and Thailand. In Singapore, BNPL has been moving with companies like hoolah and Atome. Grab also unveiled its BNPL scheme, Grab PayLater, in Singapore in 2019.
For next year, Shopee expects to further enhance the features of the Consumer Attraction Platform, such as enhancing live content recommendations and Shopee BeautyCam’s AR-enabled makeup testing tool.
It will also integrate Shopee Mall’s marketing partnership programs, and launch four new Shopee Premium campaigns during the premium marketing year.
Retailers will also be able to purchase ads to display on the Shopee homepage banner and will have additional access to buyer information through the new customer intelligence panel.
In 2022, it also plans to launch a new sampling channel, allowing consumers to purchase samples in exchange for vouchers for in-store purchases. Shope said the brands involved in the 12.12 sale last year hired up to 90 percent of new buyers.
Featured Image Credit: Shopee
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