Shopee hits record sales during 11.11 event

The record-breaking sales are driven by live events and partnerships.

Amidst the competition on Southeast Asia’s e-commerce landscape, Shopee has retained a strong performance with its 23% revenue increase in the fourth quarter of 2023. This surge is attributed significantly to the success of major shopping events, particularly the 11.11 sale.

According to Huiyan Pan, Regional Marketing Lead at Shopee, the platform's strategy to position itself as a one-stop shop for all shopping needs has resonated well with consumers. "Therefore, shopping events are very well received and continue to generate very strong sales," she stated. 

Pan highlighted the exceptional performance during the year-end season, noting, "Riding on that in 2023, Shopee achieved record-breaking results for 11.11, hitting a total of global gross merchandise value of 1 billion USD within a single day."

She elaborated that the success during these events is not solely based on sales but also on enhancing customer experience. Pan said, "During major shopping events, Shopee Live features very special live streams hosted by celebrities and influencers that provide entertainment to our shoppers while unlocking the deals that actually help them stretch their further shopping budgets." 

The results were staggering, with Shopee Live sales seeing more than 85.3 billion hours of live stream views and over 11 million items sold in the first five minutes of 11.11 across the region.

In March, a survey conducted by the Kantar’s Profiles division on over 2400 shoppers revealed significant insights into Gen Z shopping behaviours in Asia. Top considerations for this demographic include a seamless return and refund process and next-day delivery services. 

"In response to these, we will continue to optimise, really, our delivery speed, reliability, and consistency, as well as streamlining our return and refund processes to elevate users' online shopping experience," Pan explained.

Earlier this year, Shopee also expanded its "change of mind" policy to include more products and items, offering greater flexibility and peace of mind to shoppers. This move is part of a broader strategy to enhance the overall customer experience, ensuring that Shopee remains at the forefront of the e-commerce industry in Southeast Asia.