Sea Limited, the parent company of Shopee, was founded in 2009. It started out as online gaming company Garena, and it didn’t jump into e-commerce only until 2015.
Shopee was launched in 2015, and Lazada was already a leading e-commerce platform in the region when Shopee first entered the market.
However, Shopee quickly went from being a new entrant to taking the crown as the most-visited e-commerce platform in Singapore by the second quarter of 2020.
RankE-commerce PlatformQ1 2020 (Visits)Q2 2020(Visits)Percentage Increase (%)1Shopee5,963,30010,879,90082%2Lazada7,786,7008,570,00010%3Qoo106,646,7007,447,40012%4Amazon.sg2,833,3003,653,33329%5Ezbuy1,031,9001,681,80063%Figures from StatistaThe company saw an 82 per cent increase in the number of users from the first to second quarter of 2020, gaining nearly an additional five million in average visitors.
The surge in the number of visits was also potentially driven by its strong promotional efforts through initiatives such as the 4.4 flash sale and Super Mart Month during the circuit breaker period.
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