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SHOPEE LEADS IN Q3, E-COMMERCE TRANSACTIONS SKYROCKET ON 11/11

SHOPEE LEADS IN Q3, E-COMMERCE TRANSACTIONS SKYROCKET ON 11/11

Friday 27, 11 2020
Shopee outperformed Lazada, Sendo and Tiki to become the most visited e-commerce platform in the third quarter of 2020. The total website traffic of the three big e-commerce players in Vietnam, Tiki, Lazada and Sendo, in the third quarter was only equivalent to 90% of Shopee's. This year’s Singles’ Day (November 11), one of the biggest annual online shopping event, is an opportunity for e-commerce platforms to increase sales and attract more customers.

Shopee remains the leading e-commerce platform in Vietnam in Q3.

According to statistics of iPrice Insights and SimilarWeb, the average monthly website visits of Shopee reached 62.7 million, up 19% from the second quarter and 81% over the same period of 2019. 

Shopee is also the only platform that could maintain website traffic growth over the past year.Meanwhile, competitors like Tiki and Lazada recorded the website traffic growth rate of less than 10%. Sendo even saw a decline in the number of visits per month. Thus, the gap in traffic amongShopee and other platforms is being widen. The total website visits of the three e-commerce platformsper month on average is 56.8 million, equivalent to just over 90% of Shopee's visits.
Shopee remains the leading e-commerce platform in Vietnam in Q3.
According to Mr. Dang Dang Truong, Chief Representative of Iprice Insights in Vietnam, one of the main reasons why Shopee outperformed other e-commerce competitors in website traffic is because Shopee has successfully built a strong brand awareness, becoming the most well-known platform of them all. While other competitors have to rely on advertising and SEO (search engine optimization) to drive more traffic to their websites, Shopee has created the habit of online shopping for a large segment of customers. Specifically, the direct traffic rate of Shopee's website is up to 55%, much higher than Lazada (46%) and Tiki (42%).

Another reason why the website traffic of other competitors is slipping behind Shopee’s is because Shopee has invested heavily on technology and shifted its focus to mobile application platforms. With an Internet connected smartphone available at any time, users will find much convenience logging in to Shopee, which increases the frequency of their online shopping.
 

E-commerce sales doubled in the first hours of “Double Eleven Shopping Festival” as compared to previous discount events.

Initiated by Alibaba and then adopted by many e-commerce platforms and retailers, November 11, also called Singles’ Day Festival, provide customers with heavy promotions.

In Vietnam, e-commerce platforms were nowhere outside the race of this year’s “Biggest Online Shopping Event,” launching numerous sales promotions to draw massive sales. To kick-start sales on this year’s “Double Eleven Shopping Festival,” major e-commerce platforms spent lavishly on advertising, both online and offline media channels. In addition to flash sale, limited-time coupons and discounts, free delivery, etc., the e-commerce platforms also made the most of the shopping trend that combined purchasing with entertainment through games, live streaming, and music shows.

Many large e-commerce platforms recorded a surge of shoppers from 0am on the day of the world's biggest online shopping event.
Lazada claimed to have sold 20,000 smartphones, 3,000 TVs, and 50,000 food and beverage voucherat the price of 1,000 VND in the first 2 hours of the sale event. According to Lazada, the number of orders in the first hour of this year’s event are twice as many as the number in same period the previous year. From 0am to 2am, users also put products in their shopping cart two times more than the “Double Eleven Shopping Festival” in 2019.
Lazada
One of the reasons that helped Lazada double the volume of goods sold in the first hour of this yearevent was due to its lavish promotions. This platform offered up to 50 percent discount on 11 million products with the total value of discount codes at 22 billion VND.

As recorded in the first two hours of sales, the best-selling products on Lazada include phones, top-up cards, makeup removers, face masks and lipsticks. The trend is quite similar for the Singaporean-based platform, Shopee. Preliminary information for the first 8 hours of the 11/11 event from Shopee has shown that Health and Beauty, Home and living, Mobiles and Gadgets are the most popular categories in Vietnam. For example, there were more than 4,500 makeup removers of a French brand sold in the first 8 hours.
Shopee
However, the representative of Shopee said that Vietnamese consumers also took advantage of the Singles’ Day sales promotions to buy their favourite high-end items. Specifically, Shopee recorded smartphones and motorbikes as popular items purchased online with the highest transaction value of up to 100 million VND.

Tiki, of course, would not stand out from this promotion race. The representative of this platform said that sales doubled on the morning of November 11 as compared to the same time on October 10. The number of orders on this platform in the morning of 11/11 were recorded to exceed the total orders at the same time of 9/9 and 10/10 previously combined.
Tiki

Source:Zing

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