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The Silicon Review Asia

Retailers are turning towards ecommerce in rapid pace due to the ongoing Covid-19 pandemic

Retailers are turning towards ecommerce in rapid pace due to the ongoing Covid-19 pandemic

The majority of the retailers in Southeast Asia were hit hard due to the ongoing Covid 19 pandemic. The extended lockdown period has ensured the rapid growth of the ecommerce sector in these regions. Most retailers are turning towards ecommerce to reach their potential customers. Google trends have reported that there was almost a 63 percent increase in ecommerce related activities in Thailand compared to the same time last year. Countries like Vietnam and Malaysia also witnessed positive growth, reaching the numbers of 13 percent and 32 percent, respectively. The latest spike in ecommerce is not new for the region because they were already on track to achieve positive growth.

The Covid 19 pandemic has just accelerated the efforts put by the retailers to make a shift to ecommerce. In 2019, SEA accounted for $38 billion in ecommerce sales, and this is up from $ 5.5 billion that was reported in 2015. One company that was greatly benefitted from the ecommerce growth was Shopee. The company is headed by two stalwarts Chris Feng, CEO, and Terrance Pang, COO. The company was initially launched in 2015 in Singapore, and it was introduced as the country’s first social mobile-centric marketplace. Four key factors were responsible for this enormous growth of Shopee in such a short period of time.

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