Will Shopee get India in the bag? – The Executive Brief

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Hello reader,

All Of Us Are Dead, the latest Korean zombie series on Netflix, was terrible.

There, I said it. If I had to take a shot every time characters did something stupid or stood around doing nothing while someone was getting attacked, I wouldn’t be alive to write this. I think part of the disappointment stems from my first experience with Korean zombie media, which was Train To Busan. Now that was a great film. I couldn’t help making comparisons between the two, especially when it came to aspects such as writing and character development.

While my prior enjoyment of Train To Busan might have led to some failed expectations with All Of Us Are Dead, let’s hope the same fate doesn’t befall Shopee with its recent foray into India. Going up against entrenched incumbents such as Meesho, Amazon, and Flipkart, the ecommerce giant has its work cut out. In today’s story, we break down Shopee’s performance so far and what it needs to do to win in its new market.

Today we look at:

• Shopee’s aspirations in India and their potential to pan out
• A US$130 million fundraise for an Australia-based HR management firm
• Other newsy highlights such as new funds for an Indonesian crypto investment firm and ShopBack’s upcoming fundraising plans

Premium summary

Shopee-pi-pi-pIndia

Image credit: Timmy Loen

If you live in Southeast Asia, Shopee’s presence is hard to miss. Whether it’s the jingle playing over the radio or countless ads plastered at bus stops and shopping malls, the company has cemented a place for itself. But while it has found major success in the region, it’s a relatively newer player in India, so making a foothold in there won’t be a walk in the park.

• Quick off the blocks: According to Sensor Tower data, Shopee got over 20 million downloads in India after its launch in November 2021. It was also the second most downloaded shopping app in India for December 2021 and January 2022, placing it just behind Meesho, according to Data.ai.

• Sharing is caring: Shopee’s goal in India is to “attract new customers who are coming online for the first time and are looking to make small ticket-size purchases,” says Satish Meena, co-founder of Sutradhar and a former senior forecast analyst at Forrester. This places Shopee in competition with firms such as Meesho and Snapdeal, which target consumers in Tier 2 and 3 towns.

• Rules and regulations: Despite a good start, regulatory headwinds could be on the horizon for Shopee. The Indian government has been on a banning spree of “China-linked” apps, and Shopee is at risk of falling under this category.

Read more: Can Shopee win in India?

Holding out for a hero