Shopee identifies e-commerce trends in 2020 as COVID-19 transforms retail

Online shopping platform Shopee on Tuesday identified major e-commerce trends this year as the retail landscape in the Philippines continues to be transformed by the COVID-19 pandemic.

In a statement, Shopee said brands and sellers are venturing online in search of growth, while consumers turn to e-commerce to meet their shopping needs.

“The year 2020 has changed the way we live, work, and shop. Brands and sellers across the region are stepping up their digitization efforts, with e-commerce becoming a key channel for them to sustain and grow their businesses,” Shopee Philippines marketing head Ruoshan Tao said.

“At the same time, consumers are increasingly going online to fulfill their everyday needs, in areas ranging from groceries to home appliances. As e-commerce takes on greater importance in people’s lives, Shopee will continue to make shopping even more social, engaging, and easy for everyone,” Tao said.

Among the major e-commerce trends are, according to Shopee is “brands and sellers are venturing online to boost their online presence while exploring new strategies to reach and engage consumers.”

Shopee also said that the number of live streams from brands and sellers increased by 40 times.

“Homegrown SMEs have successfully boosted online visibility with Shopee Live,” it said.

Shopee said that it has observed an increase in search and shopping activity in the past three months, especially for health and fashion products.

“This reflects an increasing reliance on e-commerce, which provides Filipinos with one-stop access to essentials, health products, and more,” it said.

Online shopping activity has peaked on Tuesdays in recent months, showcasing the preference among Filipinos to shop earlier in the week, according to Shopee.

Shopping activity is also the highest at 12 p.m. and 1 p.m., showing that Filipinos shop more often during lunchtime, it said.

“Adoption of cashless payments is growing as consumers value speed and reduce physical interactions,” added the e-commerce platform.

Shopee also said it has observed that users are increasingly using cashless options to pay for purchases in recent months.

Social interactions on the e-commerce platform have already increased with over one million messages sent daily on average as brands, sellers, and consumers interact with each other across the shopping journey. — Ted Cordero/BM, GMA News