Shopee officially enters the French market, with promising development prospects

Recently, according to foreign media reports, Sea's e-commerce division Shopee has officially entered France and will launch a localized e-shopping platform of the same name in France.

Earlier last month, Sea Group’s Shopee launched a Polish site , followed by a Spanish site earlier this month , and has now officially entered the French market. At the same time, the company is also actively expanding in Latin America. Shopee said it will operate in Brazil, Mexico, Chile and Colombia, and there are reports that Shopee is about to enter the fast-growing Indian market.

Shopee's website designed for European countries looks exactly the same as the Shopee platform in Southeast Asian countries. In addition, the localized online marketplace also offers similar categories of goods, such as fashion, mobile phones and gadgets, home appliances, games and consoles. Currently, Shopee works with Stripe for online payment processing in Europe.

Shopee, the e-commerce arm of tech conglomerate Sea Group, is Southeast Asia’s largest online marketplace with more than 343 million visits, according to data from the company . So far, Shopee’s European expansion has proven fruitful.

According to survey data from the app analysis website App Annie, as of October 19, Shopee is already the most popular shopping app among Android users in Poland and Spain. For the Spanish market, Shopee outperforms global platforms such as Shein, Amazon and AliExpress. In Poland, it has defeated local e-commerce platforms such as Allegro.

Europe is a promising market for any internet company due to its stable political and economic environment, coupled with high penetration of the internet and smartphones. The e-commerce sector in the region is also expected to grow rapidly.

According to JPMorgan Chase, the French e-commerce market was worth €103.4 billion ($120.5 billion) in 2019 and is expected to grow at a compound annual growth rate of 10.4% by 2023. Spain's e-commerce market was worth €42.4 billion ($49.4 billion) in 2019 and is expected to grow by 12.6% by 2023. Meanwhile, Poland's e-commerce value will grow at a compound annual growth rate of 10.6%.

Of the three countries, France has the highest e-commerce penetration, with online sales accounting for 9.1% of overall retail sales between 2019 and 2020. JPMorgan Chase highlighted that a total of 67% of French residents have shopped online at least once. Online shopping accounts for 6.7% of all retail sales in Spain, with 47% of Spaniards having purchased an item online at least once. In Poland, only 8 out of 100 retail transactions during the same period were conducted through e-commerce platforms, marking a huge opportunity for e-commerce companies such as Shopee.

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