MOBILE shopping platform Shopee said it expects double-digit growth in monthly sales next year as the e-commerce industry in the country continues its fast expansion.
Terence Pang, chief operating officer at Shopee, said in a roundtable interview that the Philippines remains one of the “fastest-growing markets” in Southeast Asia, with the company having recorded 6 million downloads this year, with more than 200,000 sellers and over 3 million listings.
“This strong growth we have experienced in 2017 will continue next year with a projected double-digit month-on-month growth in sales. That’s not going to stop,” Pang said.
Shopee hit an annualized gross merchandise value of more than $5 billion in the region, 5 to 10 percent of which is from its Philippine operations, he noted.
Pang also said they are aggressively expanding Shopee’s product offerings by partnering with more small and medium enterprises (SMEs) as well as big brands in the market.
He said they recently signed a deal with SM Supermalls, allowing the latter to use Shopee’s platform to list its products, thereby boosting SM’s reach to the younger generation who are more inclined to use mobile apps when shopping.
Pang said e-commerce in the region will continue to flourish as it is projected to reach $88 billion by 2025 “due to strong regional consumption and increase in online shopping.”
He added that mobile commerce is leading the growth with a projected take-up of over 50 percent of all online sales.