In Vietnam, Shopee remains the leading e-commerce platform. Maybe each of us has sold or bought on Shopee, but we really don’t really understand what Shopee is, how it works and how secure it is. The article TalentBold sent to you today will provide all the information on these internal factors, helping us to have a more objective view of what Shopee has brought to the global market.
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1- What is Shopee?
Shopee is an online shopping platform owned by the SEA company headquartered in Singapore. Through the Shopee website or app, users in countries where Shopee operates can post the products they sell, search for products to purchase for use or resale, pay for goods, view and receive support via online communication from Shopee sellers and staff.
Officially participating in the e-commerce market since 2015 in Singapore, on August 8, 2016, Shopee arrived in the Vietnamese market, quickly promoting the trend of easy, safe and convenient online shopping. Advantages, competitive prices… To date, the Shopee system is present in 07 countries, including Singapore, Vietnam, Indonesia, Malaysia, the Philippines, Thailand and Taiwan.
2- CEO of Shopee
Co-founder, Chairman and CEO of Sea Ltd. is Mr. Forrest Li. His real name is Li Xiaodong, born in 1977, and is a Singaporean of Chinese origin. He earned an engineering degree, then moved to the United States to study a master’s degree in business administration at Stanford. In 2009, he and two friends, Gang Ye and David Chen, founded Global Arena, or Garena for short. In 2019, Garena changed its name to Sea, operating in three segments: gaming, e-commerce and e-wallets.
In Vietnam, Sea Uy Company appointed Mr. Tran Tuan Anh as Regional CEO (Chief Executive Officer) from 2016 to present. He was born on April 6, 1964 in Quang Ngai Province, graduated with a master’s degree in business administration from the Wharton School of the University of Pennsylvania, USA. With foresight and a strong will to work, he led the Shopee Vietnam team from beginners to “big men” in the field of online shopping.
3- The Shopee marketplace
The parent company is located in Singapore – one of the four Asian dragons – therefore the consumer psychology and approach to information technology of the inhabitants of this continent, Sea Ltd. understand very clearly. Perhaps this is why, currently, Shopee’s target markets are all in the Asian region, mainly concentrated in Southeast Asia.
With a branch system located in 6 countries, including Vietnam, Indonesia, Malaysia, Philippines, Thailand and Taiwan, Shopee has almost captured the largest online shopping market shares in Asia, creating strong momentum growth for Shopee’s C2C (Customer to Customer) business model. strength, while extending to the B2C (Business to Customer) economic model.
Shopee’s focus on market share expansion targets a number of countries in Latin America like Chile, Mexico, Colombia and Europe like Poland, Spain… However, these new markets do not bring effective and high-efficiency results, so currently, Shopee only maintains business of supplying cross-border goods and services through express delivery companies, while also operating branches and recruiting additional staff in some countries around the world. These two continents have been stopped.
4- How does Shopee work?
Just like other online retailers like Ebay or Amazon in North America, Shopee provides access to numerous online stores, allowing buyers and sellers to meet, transact and pay as needed under many shapes. The goods will be sent to customers via Shopee’s delivery team or courier partners with whom Shopee cooperates.
4.1. On the seller’s side
Sellers can be individuals, private establishments or companies. Through the seller account created on the website platform or Shopee application, the seller can post information about the goods, sales price, product description, attach hashtags so that your products can easily appear on the customer search lists.
Additionally, with the Livestream feature directly on the Shopee app, you will interact more with customers, directly share multi-dimensional images of products and promote vividly for free.
4.2. On the buyer’s side
Through the search toolbar, buyers from all over the country, even from all countries, only need to enter the keyword of the product they want to buy, the system will automatically filter and display a series of suitable products. All the information images, prices, descriptions, customer reviews… are displayed on each product page, the buyer just has to select the basket, then go to the basket and click on order to obtain the information transmitted to the seller.
Buyers are supported by the system to send a message to the seller, return the goods not in accordance with the ordered order, refund the money directly to the Shopee payment account after fulfilling the correct return conditions… In general, good that all activities are carried out, Currently mainly online, the quality of service from the Shopee team is very efficient.
4.3. On the Shopee side
The Shopee system will directly control and transmit all information between sellers and buyers, support and ensure fair rights for all parties, and ensure the health of the online trading platform. Typical amenities include:
Discount program of the day
Navigate to select your country of residence and corresponding currency
Accumulate coins (100 coins/day) which can be used as currency to purchase goods…
Shopee makes profits by charging sellers a prorated transaction fee on each successful sale. Additionally, advertisements from retailers or individuals doing business on Shopee are also the main source of revenue for this platform.
5. How Shopee works securely
The technological vulnerabilities that black hat hackers take advantage of are still the great “enemies” of the industry. e-commercecannot be removed, but Shopee knows that it can still help minimize the damage caused by this issue:
5.1. Ensuring the security of your sales and payment accounts on Shopee
Business transactions on online platforms always face security issues due to fraud, theft of bank account information, package information… Understand the importance of security for development. The Shopee development team, a team of IT experts, has established a secure security system with numerous firewalls, especially for search, transfer and withdrawal activities from Shopee accounts to Bank accounts.
5.2. Prevent online stores from selling low-quality products
Customer reviews and comments provide an important basis for the Shopee system to check unreliable business accounts. The regulations relating to the supply and sale of products on the System have been specifically stipulated by Shopee, and sellers are required to read, accept and comply with these regulations. If the system flags an individual or organization’s product or sales account, that person is automatically suspended from their activities, and may even be permanently banned.
5.3. Buyer and Seller Protection Policy
Shopee has a “Guaranteed” feature, whereby all payments made by the buyer, whether paid directly to the sender (COD) or paid from a Shopee account, the system will always keep the amount received by the buyer. The purchase has been paid for. The goal is to :
Buyers have the right to request a return/refund within 03 days (if you purchase non-Shopee Mall products) and 07 days (if you purchase Shopee Mall products). After this period, Shopee considers the buyer satisfied, has no complaints and will transfer the proceeds of the sale to the seller.
- The seller has time to check the goods again after returning them. If the goods are missing, wrong or damaged, it has the right to respond on the system “do not accept the buyer’s refund request”. Both parties can agree to return part of the money or return the goods to the buyer, while the seller will still be paid the full amount by Shopee.
5.4. Increase alertness
Fraudulent situations and prevention measures when shopping online on Shopee and many other e-commerce platforms are shared by Shopee with customers through the messaging system. Furthermore, the system also recommends that customers (buyers and sellers) regularly update their passwords, take the time to read and respond to comments…
5.5. “Preferred Seller” Policy
Reputable shopping stores that receive high star ratings and many positive reviews will be labeled “Preferred Seller” by Shopee as a potential certification for providing quality products. This approach, in addition to creating an advantage in approaching customers, also helps buyers feel secure in choosing products and on the other hand encourages transparency and healthy business efforts on the Shopee platform.
Online shopping is the trend of the moment and Shopee is one of the platforms that contributes to the strong development of this trend. Understanding customers and always focusing on their benefits is the main objective of the business which TalentBold strategists highly appreciate in this system. The use of multiple systems, a user-friendly interface and many interesting promotional policies have helped Shopee maintain a strong position in e-commerce in Vietnam and many Asian countries.
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