Shopee, a leading e-commerce platform in the Philippines, said it is focusing on the expanding middle-income segment to drive continued growth and achieve higher full-year sales.
“We’ve observed a surge of over 40 percent in transactions in recent months. This indicates a significant opportunity for brands to connect with these increasingly discerning and digitally-savvy consumers,”said Shopee communications officer Erin Tagudin at the Shopee 10.10 Brands Summit Thursday.
Shopee’s new-found focus aligns with recent industry data from London-based research firm showing that the Philippine e-commerce market would expand by 19.6 percent in 2024, reaching a value of over $39 billion by 2028.
The research revealed that growth would be driven by increased consumer confidence in online shopping and the rising purchasing power of middle-income Filipinos, whose actual disposable income rose 15 percent in 2023, according to the Philippine Statistics Authority (PSA).
Tagudin said Shopee Mall, the platform’s curated space for branded goods, is experiencing notable growth across various categories.
It registered a steady 3-percent year-on-year increase in orders demonstrating the consistent demand for tech products.
It said that for women’s apparel, accessories, men’s shoes, makeup and fragrances, the segment saw growth exceeding 60 percent, highlighting the increasing preference for online shopping in this category.
These categories have shown consistent double-digit growth year-on-year since 2020, indicating a strong upward trend, Tagudin said.
To enhance the shopping experience and cater to the preferences of middle-income consumers, Shopee Mall introduced several key features such as the triple money-back guarantee, providing assurance of product authenticity.
The extended return period offers greater flexibility with a 15-day return window and on-time delivery guarantee, ensuring timely delivery with vouchers offered for delays.
“Shopee Mall is becoming the preferred online destination for Filipinos seeking their favorite brands. We are committed to providing a seamless and trustworthy shopping experience, particularly for our middle-income users who value quality and authenticity,” Tagudin said.
