The push to digitize and increase the variety of payment methods has led consumers to a new wave of e-commerce, making Singapore home to about three million e-commerce users.
In particular, in 2021, Singapore’s e-commerce market is valued at $5.9 billion, which is expected to grow to $10.7 billion by 2025.
Not only has Singapore launched various initiatives for both startups and retailers to incentivize a brighter online retail industry, e-commerce platforms like Shopee are also doing more to promote help local businesses scale and succeed online.
At the recent Shopee Seller Summit 2022, Chua Kel Jin, Business Development Manager of Shopee Singapore, thoroughly explained the blossoming e-commerce landscape and how platforms can help brands and consumers alike. Selling opens up new business opportunities.
“Platforms are increasingly playing an important role in the consumer journey, with shoppers going online to browse, shop and even entertain. Shopee provides an end-to-end shopping experience with our app so users can shop easily from discovery to delivery, backed by our integrated payment and logistics services me,” he said.
“At Shopee, we want e-commerce to be accessible to everyone. That’s why we’re always committed to innovation to adapt to the changing needs of shoppers and businesses as the digital economy continues to evolve and mature. “
Understand consumer buying mindset
The consumer journey today is nonlinear and complex. Shopee has observed that many sellers have difficulty developing marketing strategies that cater to new behaviors, because they lack the right insights.
As a result, Shopee provides data and consumer insights to help brands launch effective campaigns and deliver tailored and personalized experiences to the right target consumers. time and place.
“In recent years, people are willing to invest a significant amount of time in discovering new products, researching, seeking opinions and comparing before making a purchase decision. This is especially the case during our big shopping season, which has accumulated in popularity over the years,” explains Chua.
Based on a survey conducted across Southeast Asia and Taiwan among Shopee users, it shows that the majority of online shoppers expect lots of big shopping seasons.
Since today’s shoppers are already more invested and start planning their big sale early, it’s important for brands to start planning early as well. To maximize this opportunity, Shopee works closely with sellers to drive brand recall ahead of Mega Sales dates with high-impact ad formats across different channels.
In the same survey, Shopee observed that users also actively turn to multiple channels for research and comparison to help them make a final decision.
To streamline brand digital advertising, Shopee works with industry-leading partners like Facebook and Google to help brands drive traffic from online pages to their Shopee stores. . This helps businesses optimize traffic to their Shopee stores, and they can also use Shopee’s in-app tools to ensure their products are centrally located for their audience. their fake.
Brands can also take advantage of Shopee Ads – Product Search Ads or Discovery Ads – to ensure their products are clearly displayed on the search results page.
Facilitating meaningful partnerships
Chua further explains how consumers rate authentic third-party reviews.
Sellers should consider that opinions from third parties such as subject matter experts, influencers or celebrities, as well as content publishers tend to play an important role in their purchase. consumers.
The consumer’s need for a relevant shopping experience guides them to make purchasing decisions. Knowing that other people are using the product – and that it works well for them – will further boost their desire to buy.
With the existing Shopee Affiliate Marketing Solution (AMS), sellers can also enhance their brand presence through Shopee’s partner network. Sellers can connect with affiliates, including Key Opinion Leaders (KOLs), influencers, and content publishers across multiple channels through the Shopee Ambassador Program.
Leveraging trusted KOLs can strengthen a brand’s reputation and, therefore, increase their sales. It’s also another creative way for sellers to communicate their brand story, build awareness of in-store promotions, and boost their brand presence.
“I joined Shopee’s Affiliate Marketing Solutions program because I found it a convenient platform for me to share the products I use and earn extra income from it. I appreciate the opportunity to provide authentic reviews based on my experience, and my followers also love discovering new products through my recommendations. I am motivated to help brands generate orders through the content I create and see the impact I have on their sales,” Valery Yeo, Shopee Ambassador Program KOL, shared at the party. Brands Summit lunch recently.
A case in point is when Korean beauty retailer innisfree chose to launch an online exclusive brand partnership with Peanuts on Shopee for Super Brand Day, Shopee was able to design a suitable affiliate strategy and Use a variety of marketing tools.
This has produced impressive campaign results for innisfree, with Gross Merchandise Value (GMV) up more than 100x, views up 40x, and visitors up 18x from the daily average.
Additionally, Shopee has new targeting tools coming soon to optimize merchant campaigns. It will soon give brands the option to target all publishers or specific KOLs that match their brand profile – be it fashion, health and beauty or tech – to Create relevant content for shoppers.
Use comprehensive solutions to grow your business
No two businesses thrive on the same combination of marketing strategies and solutions. Brands should use the right mix of solutions to achieve top brand awareness and drive successful conversions based on their current business needs and goals.
Shopee offers a wide range of tools spanning out-of-app channels, in-app engagement tools, and targeted programs and features to help their sellers on their e-commerce journey. .
Singapore-based online baby shop, Pupsik Studio, aims to drive more conversions on their Shopee store with a small test budget.
Pupsik Studio has opted to use Google Ads, ensuring that their Shopee Product Feed has clear images in compliance with the Google Shopping Ads Policy. Additionally, it triggers campaigns for all of their products, thus allowing Google’s algorithm to select the best from their offered products.
To further drive sales, the company has also adopted recommended Smart Bidding techniques to allow for a quick boost – under 10 days – to their campaigns.
By using both tools, Pupsik Studio not only saw a 13.3% return on ad spend, but also saw a 2.7x increase in conversion rates.
Another solution that Shopee offers to sellers is Shopee LIVE. Live streaming is a relatively newer initiative that many e-commerce platforms are currently leveraging to make it easier for their consumers to shop.
It launched Shopee LIVE in 2019 to meet the growing demand for entertaining video on the go. Since its launch, it has been well received, with participating merchants and brands in Singapore demonstrating the appeal of real-time engagement and interaction with users.
Sellers can build trust with their customers by providing authentic and informative content directly. Most importantly, it allows businesses to reach a wider audience, thereby increasing their sales.
Jamstone, a local business selling crystal bracelets, was recently featured in Shopee’s 8.8-support Local Independence Day promotion. Shopee first approached founder Jamaine Lim in July 2021 to conduct direct sales for her brand on Shopee LIVE.
“Our customers enjoyed the live sales event and shared that it was exciting and fun. Through this, we were able to connect with customers on a more intimate level and generate four-figure sales within an hour of our first Shopee LIVE session,” said Jamaine.
Maximize resources of knowledge and support
Acknowledging that navigating e-commerce can be daunting for first-time sellers, Shopee has a strong support network to empower sellers and give them the confidence to establish, grow and open. expand its business.
In addition to transition support, Shopee provides sellers with a range of online resources that can help improve their operations.
One such seller is Mark Dave Cerojales, head of Online Sales for SL Foods. Despite having a rich background in manufacturing for almost 15 years, he faced challenges during the transition to online sales as his previous experience limited term in the offline domain.
Realizing his difficulties, Shopee helped him navigate his e-commerce journey, making SL Foods one of the most successful sellers on the platform.
Since joining Shopee, SL Foods has seen sales double. In addition, during the recent 7/7 campaign, it recorded a nine-fold increase in sales compared to an average day.
Maximizing resources like Shopee University and Seller Education Center can help sellers at any point in their business journey, and is helpful for both newbies and brands alike. have had experience.
Sellers have access to the basics to set up and run their stores, as well as training tools, workshops, and other resources to help them get up and running on Shopee.
To help merchants and brands grow in the long term, the seller hub provides guidance for optimizing sales, as well as how to best use Shopee’s available marketing and support tools to improve operational efficiency.
Chua reiterated throughout the conference that for brands and merchants, having a successful e-commerce strategy means having a thorough understanding of consumer thinking, as well as having access to a suite of tools. suitable digital instrument. This winning combination will enable businesses – large or small – to scale and participate in the digital economy.
For existing Shopee sellers, he encourages them to use the many features and tools Shopee offers to enhance their online presence and sales. At the end of the day, Shopee strives to not only reach consumers but also empower businesses and sellers.
Featured image credit: Shopee