Shopee and multinational consumer products company Colgate-Palmolive Co. on Monday said they recently signed a memorandum of understanding to jointly drive e-commerce penetration of oral, home, and personal care products on the digital platform.
According to the two companies, there is a rapidly growing online demand for oral care, home care, and personal care products in Southeast Asia and Taiwan, the main markets of Shopee, which is a part of global consumer internet company Sea Ltd.
The objective is to grow Shopee’s digital commerce business across Southeast Asia and Taiwan “more than 20 times by 2025,” they said in an e-mailed joint statement.
“Starting 2022, Colgate-Palmolive will become a strategic partner under Shopee’s Regional Champion Brands Programme, which will help strengthen Colgate-Palmolive’s online presence and deliver more of their innovative and high-quality products to millions of households through Shopee’s extensive reach,” they added.
By 2023, online sales in Southeast Asia are expected to account for 21% of total personal care market revenue. This is due to the rising e-commerce adoption in the region, Shopee and Colgate-Palmolive said.
“As a market leader, Colgate-Palmolive has achieved tremendous growth in the past year and will be a valuable partner in helping to drive further online expansion of the personal care category on Shopee,” said Chris Feng, Shopee’s chief executive officer.
“We hope to support Colgate-Palmolive in capturing more opportunities through our robust ecosystem and deep understanding of consumers in each market,” he added.
Last week, Shopee said majority of its users shopped from local sellers during the 12.12 Christmas sale.
The platform also noted that orders from Shopee Mall, a by-invite-only premium retail space reserved for brand owners and authorized distributors, surged “14 times” from an average day. — Arjay L. Balinbin
