Peek into Shopee's Journey in Helping Micro, Small, and Medium Enterprises (MSMEs) Transform and Compete in Early 2024

Kapanlagi.com - In the Indonesian economic panorama, the growth trend of Micro, Small, and Medium Enterprises (MSMEs) and local brands in early 2024 has been the main focus. Based on data from the Ministry of Cooperatives and Small and Medium Enterprises (Kemenkop UMKM), the contribution of MSMEs to the Indonesian economy has reached 61% of the country's Gross Domestic Product (GDP).

Factors such as digitalization, changes in consumer behavior, product innovation, and the role of e-commerce, especially Shopee, have become the main pillars in supporting the growth of MSMEs and local brands. During 2023, more than 500,000 new MSME sellers have joined Shopee with a revenue growth of up to 30% year-over-year (YoY) from 2020 to 2023.

Since operating in Indonesia, Shopee has consistently fulfilled its commitment to drive the national economy through MSMEs and local brands. Therefore, in 2023, 84% of business players on Shopee came from MSMEs and local brands, with 93% of total transactions dominated by local products.

Various sustainable innovations have been created to help transform and enhance the competitiveness of businesses and strengthen their presence both domestically and internationally. As a form of commitment, Shopee shares the report on the growth trends of MSMEs and local brands in early 2024:

1. Shopee provides easy and inclusive access to create opportunities for MSMEs and local brands to reach a wider market. Through various strategic efforts, initiatives, and attractive programs, Shopee has recorded a four-fold increase in total orders from MSMEs and local brands during the peak campaign in 2024 compared to the previous year.
2. In order to gain a global market share through inclusive digital means, Shopee also provides integrated services through the Shopee Export Program, where more than 26 million local products have been exported to various countries. This positive achievement continues in early 2024 with a more than two-fold increase in transactions for exported products compared to last year.
3. Continuously innovating to make a real impact, Shopee has successfully driven the growth of MSMEs and local brands through interactive features. Shopee Live provides a platform for sellers and buyers to interact in real-time and explain their products during live streams. This positive response is evident from the surge in local products sold, which is more than 13 times higher through Shopee Live compared to last year.

Monica Vionna, Director of Marketing Growth at Shopee Indonesia, said, "There are many new stories throughout the journey until mid-2024, and we are proud to be part of many success stories of MSMEs and local brands."

Monica continued, "Watching them continue to grow and innovate in creating quality products and expanding their market reach motivates us to provide the best support for local businesses through various programs, campaigns, and interactive features, as well as training that can guide MSMEs and local brands to be more competitive."

"We are optimistic that the remaining half of 2024 will be even more exciting with various new breakthroughs, as well as strong collaborations and partnerships, so that we can create sustainable businesses and inclusive digital market penetration," she concluded.

(kly/tmi)