Ecommerce News: Shopee Reached $1.8 billion in Annualized GMV

Before you wind down from your day, here are the ecommerce headlines you should know.

1. Shopee marks rapid growth in Southeast Asia

Southeast Asian pure-play m-Commerce operator Shopee says it has reached $1.8 billion in annualised GMV just a year after its launch.

App-based Shopee operates in Singapore, the Philippines, Malaysia, Indonesia, Thailand, Vietnam and and Taiwan.

The Garena-backed company says it has achieved a month-on-month growth of 43 %, with 25 million downloads of its mobile app to date and 65 million product listings.

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2. Retail ecommerce small but growing in Vietnam

However, despite all the optimism and the strong growth forecasted, retail ecommerce would still account for just 5% of total retail sales by 2020, if the target were to be reached, which puts Vietnam well behind Western countries.

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3. Recommended Reading: Southeast Asia’s ecommerce future

The rate of digital adoption in Southeast Asia is unmatched. The Philippines sends more texts than any other country, and Jakarta is the world’s No. 1 city for tweets. There are more than 250 million smartphone users in the region.

Read the rest of the story here.