It has been more than a year since we published the Who is Shopee report, and what a different world we are in now.
Shopee, the largest ecommerce platform in Southeast Asia, was in an all out expansion mode (new markets, new verticals) in 2021 – and its parent Sea Group’s market cap briefly hit US$200 billion.
2022 was a totally different matter. Its market cap is down almost 90%. Its headlines the entire year have been negative – geopolitics, product slowdown, people and profit issues, and probably most troubling – the rise of TikTok Shop.
Throughout 2022, many in our community have been asking us about the ecommerce giant’s prospects – Will Shopee’s troubles continue? Is its business model sustainable? Is its leadership still stable? Has ecommerce growth in the region reached its plateau? Is TikTok Shop going to be a formidable foe?
What is certain is that Shopee is so connected in the ecommerce ecosystem – and whatever it does will be an indicator for the industry, the wider ecosystem and for companies (as well as individuals) to plan out their own strategies.
With the launch of our latest report on Shopee (here), we will host an event to address these questions.
Titled “Off the Record: Shopee’s turbulent 2022”, the event will address the following topics:
- Shopee’s rough 2022: A brief overview of what happened in 2022 – Shopee’s missteps, what it did right, and should we be worried.
- Rising competition from TikTok Shop: How can TikTok Shop seriously undermine Shopee, and what can Shopee do about it?
- What to expect in 2023?: Macro outlook and our perspective about Shopee for 2023 – from the leadership, product and strategy perspective.
- Taking questions from our community: We will be as candid as we can.
Hosted by Momentum Academy, this event is happening on 17 November 2022, between 3-4pm SGT.
Be part of the in-depth conversation about the future of Shopee, TikTok Shop and ecommerce.
Look forward to seeing you there.
*Momentum Academy leverages our community to provide unique insights on emerging tech. We provide bespoke services to empower decision makers through Momentum Works’ insights and venture experiences. We provide powerful learning experiences by combining relevant insights with burning issues that our community wants answers. We help you to answer the why, what and how to navigate a fast-changing environment.