Shopee announced several platform enhancements, including more cross-category synergies, and the expansion of our brand intellectual property (IP) portal

SINGAPORE - Media OutReach - 17 February 2023 - Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, held its annual Shopee Brands Summit 2023 yesterday. Themed ‘Sailing Through Evolving Seas: Winning with Consumers in E-Commerce’, this year’s summit focused on how brands can adapt to a changing global business environment and leverage untapped opportunities in e-commerce. Despite ongoing macroeconomic headwinds, speakers at the Summit highlighted the continued untapped potential for e-commerce in the region as more people come online, including younger shoppers and those outside of tier-1 cities. Shopee aims to help businesses adapt to the evolving needs and preferences of consumers and remain the platform of choice for brands, sellers and shoppers. During the event, Shopee focused on three key trends for brands this year: increasing demand for digital services in Southeast Asia, rise of a new generation of buyers with different needs and the growing importance of establishing a secure shopping ecosystem. Shopee also announced several platform enhancements designed to help brands leverage these trends. Zhou Junjie, Chief Commercial Officer at Shopee, said, “We have seen how digital services like e-commerce can improve people’s lives and transform the way consumers and businesses interact. With the macroeconomic landscape constantly changing, it is important for brands to innovate their engagement strategies and strengthen their data analysis. The new features and enhancements we are rolling out give brands the power to effectively target and deepen their relationships with consumers. Shopee is committed to continue supporting our brand partners and help them adapt to evolving trends so they can unlock long-term growth opportunities and advance in the digital economy.” 1. Increasing demand for digital services Consumers in the region are spending more time on online platforms. Shopee recently launched its 2023 Consumer Trends Report, which found that in Singapore, browsing on Shopee is a daily routine for two in three users. Additionally, more consumers are also relying on e-commerce for all their purchases, from daily essentials to big ticket items such as electronics and furniture. In line with this, Shopee is committed to continue delivering more value and convenience to meet this increased demand. This includes having exciting shopping events that provide more deals and savings, such as:

• 3.3 Mega Shopping Sale as the first big shopping campaign of the year, featuring deals across all categories.
• Regional Shared Super Brand Days which will allow complementary brands to collaborate with each other to target a specific segment of consumers, while enabling consumers to enjoy greater value on products they need.

Additionally, in order to help brands better capture this increased demand and reach more consumers, Shopee announced a full suite of new and improved end-to-end marketing solutions tools. This includes tools to support brand discovery and awareness building, such as display ads, discovery and search, influencer marketing program and affiliate marketing solutions. In order to help brands gain a deeper understanding of their customers and better develop effective strategies to reach and engage them, Shopee also announced major enhancements to its data tools, including:

• New Transaction Index: Since its launch in 2021, Shopee Brand Portal has been providing brands with comprehensive data and insights. This year, Shopee announced a new transaction index, an indicative benchmarking tool based on a number of factors including sales and consumer behaviour insights. This will allow brands to understand key trends and buyer behaviour, discover white-space opportunities and obtain tailored recommendations and strategies from Shopee.
• Brand Membership Insights: As consumers purchase more frequently and across more categories, more brands are finding ways to build consumer loyalty. As such, Shopee is enhancing its brand portal to provide more granular insights on brands’ membership performance, in order to help brands better understand how they can continue to best meet their customers’ needs and maximise their customer lifetime value.

2. Rise of a new generation of buyers...