Shopee to focus on growing market share in SEA
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Singaporean online shopping business Shopee is aiming to boost its market share in Southeast Asia.
The firm is targeting an expected exponential increase in the number of online shoppers in the region, according to a recent interview published in Yahoo Finance Singapore with Shopee’s CCO Zhou Junjie.
“We believe that there should be a lot more growth potential in Southeast Asia so we should focus our effort and resources in this region,” said Zhou in the interview. “Whereas the e-commerce industry in China is more mature, Southeast Asia markets are still at the very beginning stage.”
E-commerce in the region is projected to pass US$150 billion by 2025, nearly four times the current levels.
“Our priority is to grow the market share,” said Zhou. “We will continue to invest to make sure that we strengthen our lead position, we want to make sure that we grow faster than others.”
Beyond Singapore, Shopee operates in Thailand, Malaysia, Vietnam, the Philippines, Indonesia and Taiwan.
Questions & Answers
Q.What is Shopee's primary business goal for its Southeast Asian operations?
What is Shopee's primary business goal for its Southeast Asian operations?
Shopee aims to boost its market share in Southeast Asia. The company's CCO stated their priority is to grow market share and strengthen their lead position in the region, investing to outpace competitors.
Q.Why is Shopee concentrating its efforts on the Southeast Asian market?
Why is Shopee concentrating its efforts on the Southeast Asian market?
Shopee believes Southeast Asia offers significant growth potential due to an expected exponential increase in online shoppers. The e-commerce industry there is considered to be at a nascent stage, unlike the more mature Chinese market.
Q.Which specific countries in Southeast Asia does Shopee currently operate in?
Which specific countries in Southeast Asia does Shopee currently operate in?
Beyond Singapore, Shopee operates in several Southeast Asian countries. These include Thailand, Malaysia, Vietnam, the Philippines, and Indonesia. They also have operations in Taiwan.
Q.What is the projected value of the e-commerce market in Southeast Asia by 2025?
What is the projected value of the e-commerce market in Southeast Asia by 2025?
The e-commerce market in Southeast Asia is projected to reach over US$150 billion by 2025. This figure represents nearly four times the current market levels, indicating substantial anticipated growth.
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