Shopee's gross merchandise value amounted to 19.1 billion U.S. dollars in the third quarter of 2022. Shopee is a subsidiary of Sea Limited, one of Southeast Asia's leading online service providers headquartered in Singapore.
Sea Limited rides the pandemic-driven e-commerce wave
Choppy seas ahead for one of Singapore’s leading unicorns
However, the quick, short-term gains brought about at the beginning of the pandemic have given way to increasing challenges in 2022. The marked increase in revenue for digital services such as e-commerce and digital entertainment has stabilized with the easing of restrictions and a return to normal. Coupled with global economic and political crises, tech companies such as Sea are seeing their stock value tumble. To mitigate their losses, Sea has resorted to cost-cutting measures, such as reigning in their expansion to other international markets and mass lay-offs in their e-commerce arm, Shopee.
Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022
(in billion U.S. dollars)
Characteristic
GMV in billion U.S. dollars
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The gross merchandise value (GMV) is the total value of merchandise sold over a given period of time through a customer-to-customer (C2C) exchange site.
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Sea. (November 14, 2023). Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/
Sea. "Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022 (in billion U.S. dollars)." Chart. November 14, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/
Sea. (2023). Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/
Sea. "Total Gross Merchandise Value (Gmv) of Shopee from 1st Quarter 2020 to 3rd Quarter 2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 14 Nov 2023, https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/
Sea, Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/ (last visited July 22, 2024)
Total gross merchandise value (GMV) of Shopee from 1st quarter 2020 to 3rd quarter 2022 (in billion U.S. dollars) [Graph], Sea, November 14, 2023. [Online]. Available: https://www.statista.com/statistics/1118049/shopee-gross-merchandise-value/