icer at Shopee, told Inside Retail. Businesses that want to unlock long-term opportunities in today’s digital economy will need to adapt quickly to changing needs in order to continue providing value to their customers, he said. Key highlights According to Junjie, there has been an increased demand for digital services in the APAC region. The company found that Southeast Asian consumers are relying on e-commerce platforms for grocery shopping and even home furnishing. “We have also noticed an increase in younger shoppers on our platform. They are more purposeful in their purchases, with trust and quality being essential in their customer journey. They pay more attention to factors like security of payment methods,” he noted. Interestingly, in Singapore, 70 per cent of older users have embraced the e-commerce way of life. Apart from online shopping, one in two of these seniors are also engaging in live streams and gaming, as it keeps them entertained during down time and retirement. More engaging experiences Vietnam is another unique marketplace in the Southeast Asian region. The report found that customers in this region are demanding more value and engagement when it comes to online shopping. Shoppers are looking for holistic experiences to keep them entertained. “Brands can also collaborate with Shopee to explore new virtual tools that enhance the online shopping experience such as BeautyCam, an AI-powered simulation that enables shoppers to virtually try-on different shades of L’Oreal lipsticks,” Junjie explained. While in Indonesia, the company has been hard at work enabling digital access for rural users and sellers. Its ShopeePay solution is now present in 99.5 per cent of districts in Indonesia and the company believes the digital inclusion factor will drive sales. Local flavours When it comes to Southeast Asia, consumers have always gravitated towards local sellers. In Malaysia, the company has found that consumers are continuing to have a preference for local brands and products. “Sellers in Borneo, in particular, are likely to see a boom in online business as more than one in two  of our users in Malaysia have expressed their interest to support local sellers in this area and help improve their standard of living,” he added. For the Philippines, the company found that shoppers in the region are becoming more purposeful, but what stood out about the country was the ‘bayanihan’ spirit. Essentially, this means a spirit of civic unity and cooperation among Filipinos. “Beyond supporting brands based on their values, the bayanihan spirit means coming together as a community to support those in need, which our users did during our  sales campaigns last year as they showed their support for local sellers,” he noted. Remaining confident Amidst economic uncertainty swirling in global markets, Junjie remains confident of the long-term growth potential of e-commerce in Southeast Asia.  He cited a recent report by Google, Temasek and Bain & Co that showed that Southeast Asia as a whole is expected to generate US$330 billion in gross merchandise value (GMV) by 2025. “Findings from our report also showed that consumers are still buying online, but the way they shop has changed. This means that businesses must also re-evaluate their online channels and strategies to meet new consumer needs,” he stressed. Junjie explained that Shopee’s strategy for 2023 can be broadly summarised into two prongs. Firstly, it will be upgrading its platforms with new features and enhancements to help brands deepen their relationships with shoppers. Secondly, the company will be strengthening its data analytics to give brands the tools to more effectively target and engage users.  New campaigns As always, Gen Z and Millennials are a demographic that is hard to ignore. Junjie acknowledged that the company needs to engage with them differently. “We will be introducing regional shared ‘Super Brand Days’, where complementary brand partners with the same target audience can collaborate on a shared campaign and deliver new offerings and greater value to shoppers,” he revealed. There will also be enhancements to live streaming, with a new competition format and exclusive vouchers and discounts. New virtual tools such as SkinCam, a virtual diagnosis tool for consumer’s skin health can also provide personalised product recommendations. “It’s going to be an exciting year of opportunities for Shopee and our partners. Our double day campaigns that consumers have come to know and anticipate will continue this year, which started with our first mega campaign of the year, the 3.3 Mega Sale earlier this month,” he concluded.