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