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 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.