The company, which counts China’s Tencent as one of its biggest investors, has made it to the hit list of domestic traders in India. The journey in India is unlikely to be smooth for Shopee. From time to time, we may test the waters in new markets where we believe there may be an opportunity to use our experience in highly diverse environments to reach underserved buyers and sellers,” he said. “In the recent months, we launched Shopee in Poland, France, Spain and India. Li also made a passing reference to the India launch during the earnings call. Shopee was launched in Brazil barely two years ago and it has already become the most downloaded shopping app in this region, pulling in users with low costs as well as in-app mini-games, where winning users get coupons. Shopee was the leading app across these metrics in Indonesia. It also continued to be the top-ranked app in the shopping category both in South East Asia and Taiwan by average monthly active users and total time spent on app during the quarter. Its founder Forrest Li told analysts during the earnings call that globally on Google Play, Shopee ranked first in the shopping category by total time spent on an app, and second by downloads and average monthly active users in the third quarter. For the quarter ended September 2021, it recorded gross orders of 1.7 billion and a GMV (gross merchandise value) of $16.8 billion. Shopee, part of the Sea Group, which also has a gaming business called Garena and a fintech play called SeaMoney, was launched in Singapore in 2015, and later expanded across South East and East Asia as well as Europe and Latin America. The overestimation of the potential of the market, inability to service the vast semi-urban and rural markets will pose a huge challenge because beyond 200 cities even today, fulfilment issues do come up,” said Ankur Bisen, Senior Partner and Head, Consumer, Food and Retail, at Technopak Advisors. “It is brave of them to enter India in these times especially given the uncertainty around the e-commerce policy. A search on recruitment sites throws up openings for roles such as marketing associates, campaign managers and content writers that it looks to fill in. The company has set out on a hiring binge in India. They have big plans for India,” a second source said.
There has been a concentrated effort of advertising on Google Playstore. “The growth is broadly based on the kind of deals they have. It is adopting the same playbook in India,” a source said. It overtook Lazada, Tokopedia in Southeast Asia in five years.
“Shopee usually enters a market late behind other rivals and takes away a large pie in a short span. He is running a small team from India and has been given the mandate to grow the business five to seven fold in the next six months. Moneycontrol also learned that Ankit Upadhyay is heading the India business. According to his LinkedIn Profile, he joined Shopee Thailand as the head of supply chain management in February 2020. We aim to be a partner in India’s digital economy mission, while contributing to the Aatmanirbhar Bharat Abhiyan,” a Shopee spokesperson said in a statement. Our local team is currently focused on understanding the needs of our local communities, and assessing how we could be able to apply our global experience to help more local small businesses in India to benefit from the growth of the digital economy in line with our mission to better lives through technology. Our operations are still at a nascent stage and it is too early to discuss specific details. “Shopee is part of Sea, which is a Singaporean company. Delhivery and Ecom Express did not respond to queries for this story. Shopee has tied up with Delhivery and Ecom Express as its lead delivery partners, according to the sources.
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