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51-707: One of the most prominent local tenants headquartered within the parks is Singaporean multinational technology company Shopee . In 1980, the Government gave its seal of approval to proceed with the construction of the Singapore Science Park on a 30-hectare plot of land. In 1982, Singapore Science Park I welcomed its first tenant, Det Norske Veritas (DNV). On 3 September 2019, Shopee officially opened its new six-storey regional headquarters at Singapore Science Park I. The new building has 244,000 square feet (22,700 m) of space, which can accommodate 3,000 employees and

102-558: A 15-hectare plot of land next to the Singapore Science Park II into a Singapore Science Park III at a cost of about $ 600 million. However, it was revealed that the latter was an expansion of Singapore Science Park II. Galen, the first building on the Singapore Science Park II's expanded plot was completed on 29 June 2003. Shopee Shopee Pte. Ltd. , trading as Shopee , is a Singaporean multinational technology company that specializes in e-commerce . It operates as

153-419: A classified or auction-like system. As such, the products and services bought and sold are usually varied in type and have a short development and sale cycle. Products sold may often be used or second-hand , since consumer to consumer sales are often facilitated through auction or classified sites. Since products are usually second-hand, surplus, or used, there is seldom a long development cycle associated with

204-537: A common need. Some people wanted things, other people had things and wanted to sell them. This was the birth of classifieds . The use of classifieds is referred to as classified advertisement. Normally used in text-based print, classified advertisement is now a strong vertical market that allows customers to communicate their needs with each other. In 2003, the US classifieds market totaled $ 30.00 billion for both newspapers and online classified ad services. The oldest auction house

255-603: A cross-border model, and exited Argentina entirely. In January 2023, the company announced the closure of its Polish operations. By Q2 2023, Shopee remained the largest online marketplace in Southeast Asia, with a traffic share ranging from 30% to 50% across the region, and also ranked as the leading online shopping platform in Taiwan. In the fourth quarter of 2023, Shopee reported a 46% year-on-year increase in gross orders, reaching 2.5 billion. The gross merchandise value (GMV) for

306-400: A fee associated with such exhibitions. Websites may also charge a commission when products are sold. With the growing use of online auctions, the number of internet-related auction frauds has also increased. For instance, a seller may create two accounts on an auction site. When an interested buyer bids for an item, the seller will use another account to bid on the same item and thus, increasing

357-548: A liability statement claiming that they are not responsible for any losses or damages. Furthermore, illegal or restricted products and services have been found on auction sites. Anything from illegal drugs, pirated works, prayers, and even sex have appeared on such sites. Although most of these items are blacklisted, some still find their way onto the internet. Despite the success of eBay, numerous other online auction sites have either shut down or consolidated with other similar sites. Creating an innovative and efficient business model

408-483: A memo to all employees detailing cost-cutting measures aimed at achieving "self-sufficiency" for the company. These measures involved restrictions on business expenses and a temporary suspension of compensation for Shopee's top executives. Another round of job cuts was also announced, which affected employees in Singapore, Indonesia, and China. In the fourth quarter of 2022, Shopee achieved a positive adjusted EBITDA for

459-576: A post stating that he had relocated as part of a job offer from Shopee to work at the company's headquarters in Singapore. However, the offer was revoked after he disembarked from the plane in Singapore with his family. Multiple job offers were allegedly affected, as other users claimed they had similarly resigned from current positions and terminated housing contracts to join Shopee, only for their offers to be rescinded. On September 28, 2022, Shopee Philippines received backlash when rumors started spreading that

510-449: A quick profit, and simply place their product in the market place in hopes that it will be sold. Advertising is essential towards the success of any business. In the case of customer to customer marketing, advertising often relates to online auctions and listings. As opposed to the pricey costs to advertise in media such as newspapers and magazines, products are already being promoted and publicized once users decide to officially put them on

561-811: A report by iPrice. During this period, gross orders grew by 92.7% to 246.3 million, compared to 127.8 million in the previous year, and the gross merchandise value (GMV) surged by 72.7% to US$ 3.8 billion from US$ 2.2 billion. Shopee expanded its operations to Brazil in 2019, marking its first venture into Latin America. By 2023, Shopee reported engaging with over three million local merchants in Brazil, who contributed to more than 90% of its national sales. In September 2021, Shopee introduced its marketplace in Poland, followed by launches in Spain and France. However, by early 2022, Shopee exited

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612-658: A subsidiary of Sea Limited . Shopee was founded in 2015 in Singapore , and subsequently expanded its operations to other countries. As of 2023, Shopee is recognized as the largest e-commerce platform in Southeast Asia, with a total gross merchandise volume (GMV) of $ 47.9 billion. This figure represents nearly half of the total GMV of the Southeast Asian market. The platform also facilitates online buying and selling for consumers and sellers in East Asia and Latin America. Shopee

663-615: A way to allow customers to interact with each other. Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service. In customer to customer markets, the business facilitates an environment where customers can sell goods or services to each other. Other types of markets include business to business (B2B) and business to customer (B2C). Consumer to consumer (or citizen-to-citizen ) electronic commerce involves electronically facilitated transactions between consumers through some third party. A common example

714-435: Is Craigslist. Craigslist utilizes the internet to attract a wide customer and buyer base which employs the website to list and sell items. Since the customer to customer marketing strategy is strongly focused on serving the customer, the business model of Craigslist is simple: serve the customer first. Utilizing this model, Craigslist has developed into a prime example of a customer to customer driven 'machine', which focuses on

765-499: Is Stockholm Auction House (Stockholms Auktionsverk), which was established in Sweden in 1674. Auctions however, have been recorded as far back as 500 B.C. Deriving from the Latin word augēre, which means "to increase" or "to augment". Auctions have since been widely used as a method of liquidating assets, and have evolved into many different variations. The most successful current form of auctions

816-468: Is a US$ 7.90 bonus if they can deliver 40 or more packages in a single workday. There is also no compensation for fuel or parking fees. Shopee responded to the allegations that it has a fair incentive scheme that is in line with Indonesia's market and regulations, and what they offer is "highly competitive" within the industry. In late August 2022, a user of the Chinese social networking platform Maimai uploaded

867-527: Is an online auction , in which a consumer posts an item for sale and other consumers bid to purchase it; the third party generally charges a flat fee or commission . The sites are only intermediaries, just there to match consumers. They do not have to check the quality of the products being offered. Consumer to consumer ( C2C ) marketing is the creation of a product or service with the specific promotional strategy being for consumers to share that product or service with others as brand advocates based on

918-486: Is based on the Internet, such as eBay. Most C2C websites, such as eBay, have both streamlined and globalized traditional person-to-person trading, which was usually conducted through such forms as garage sales, collectibles shows, flea markets and more, with their web interface. This facilitates easy exploration for buyers and enables the sellers to immediately list an item for sale within minutes of registering. When an item

969-621: Is derived solely from their business to customer model utilized by businesses to post jobs and hire new workers. As such, it becomes apparent that companies who focus on this particular model and, specifically classifieds, whether online or off, are often not focused on profit; but rather, on delivery of the service or product to ensure customer to customer interaction. Internet classifieds sites such as OLX, Quikr, Loogga etc. are gaining prominence in emerging economies such as India, Brazil and Nigeria. OLX and Quikr recently enabled their users to sell cows and buffaloes in rural India C2C marketing

1020-423: Is its escrow service, Shopee Guarantee , which withholds payments from sellers until the buyers confirm receipt of their orders, thus securing transactions. In 2016, the company launched its seller education platform called Shopee University , which aims to help train local entrepreneurs and businesses in setting up their online businesses. In 2017, Shopee launched Shopee Mall with 200 brands in Singapore and

1071-491: Is listed on a C2C site, a nonrefundable insertion fee is charged based on the seller's opening bid on the item. Once the auction is completed, a final value fee is charged. This fee generally ranges from 1.25 percent to 5 percent of the final sale price. After the C2C site sets up the system in which bids could be placed, items can be put up for sale, transactions can be completed, seller fees are charged, and feedback can be left, while

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1122-521: Is of critical importance to retailers. When a shopper buys a product, if it can be shared with the shopper's friends, that drives significant traffic back to the customer site. Additionally, shoppers trust user generated recommendations much higher than recommendations pushed by the retailer. Retailers like CafePress have implemented C2C marketing on their website and companies like ShopSocially are building C2C marketing platforms for retailers. Recent trends by Facebook and Wavespot that leverage free WIFI at

1173-460: Is six times larger than the previous headquarters at Ascent Building, also located within the park. In 1993, construction of Singapore Science Park II began on a 20-hectare plot of land, the first building constructed was the Institute of Microelectronics (IME). The Alpha, a multi-tenant building was the next building constructed in Singapore Science Park II. In 2000, Arcasia would expand and develop

1224-864: Is vital towards success. Online auctions can be categorized into five main models: C2C, B2C, B2B, B2G, and G2P. C2C refers to customer to customer, B2C signifies business to customer, B2B refers to business to business, B2G signifies business to government, and G2P refers to government to public. In recent years, online auctions have even appealed to major businesses. For instance, Sears has reported selling items at higher prices on these auctions when compared to discounting them in stores. The success of an online auction site largely depends on six variables: interactivity, product offering, level of trust, rate of growth and adoption, networking, level of commitment, and payment options. Interactions among users are crucial and thus, websites must be accessible and easily navigable. E-mails, community boards, and feedback all aid in increasing

1275-855: The C2C site stays in the background. For example, at the end of an auction, the C2C site notifies the buyer via e-mail that he or she has won. The C2C site also e-mails the seller to report who won and at what price the auction finished. At that point it's up to the seller and buyer to finish the transaction independently of the C2C site. C2C sites make money by charging fees to sellers. Although it's free to shop and place bids, sellers place fees to list items for sale, add on promotional features, and successfully complete transactions. Many C2C sites have expanded and developed existing product categories by introducing category-specific bulletin boards and chat rooms, integrating category-specific content, advertising its service in targeted publications and participating in targeted trade shows. eBay specifically has also broadened

1326-648: The European markets of France and Spain, retaining only its operations in Poland. In 2020, Shopee started operations in South Korea to help local merchants reach customers in its existing markets, although it did not establish a consumer-facing platform in South Korea. The following year, the company extended its reach within Latin America by commencing operations in Mexico, Chile, and Colombia. In November 2021, Shopee entered

1377-736: The Indian market with a soft launch, achieving over one million app installations on the Google Play Store and handling 100,000 orders a day. However, Shopee ceased its operations in India in March 2022, just five months after the launch. As of 2022, Shopee's app recorded 203 million downloads globally. For Q2 of that year, Shopee recorded US$ 1.7 billion in quarterly revenue. In September 2022, Shopee ended its local operations in Chile, Colombia, and Mexico, shifting to

1428-544: The Philippines. On 3 September 2019, Shopee officially opened its six-story regional headquarters at Singapore Science Park . The new building spans 244,000 square feet (22,700 m ) of space, which can accommodate 3,000 employees and is six times larger than Shopee's previous headquarters at Ascent Building. The building was leased by WeWork before it was relinquished to Shopee. Shopee has yet to turn profitable despite increasing its gross profit margin year-on-year in

1479-803: The advent of the Internet. Services such as Craigslist , eBay , Facebook Marketplace , Mercari , OfferUp , and other classified and auction based sites & apps have allowed for greater interaction between consumers, facilitating the Customer to Customer model. Furthermore, as it becomes more economical for individuals to network on the Internet via social websites and individual content creation, this marketing model has been greatly leveraged by businesses and individuals alike. There are two implementations of customer to customer markets that are credited with its origin. These are classifieds and auctions. Newspapers and other similar publications were in frequent circulation and therefore were able to be used to facilitate

1530-412: The ambassador for the company. That same year Shopee's 9.9 Super Shopping Day campaign featured a video of Ronaldo dancing to " Baby Shark ". The video went viral and became a meme in the football community, reaching 19 million people. The campaign resulted in a doubling of Shopee's gross orders and a more than tripling of its e-commerce sales. However the ad was panned by football fans due to nature of

1581-506: The company and also CR7 taking part in the endorsement for money. With fans stating "“This gets more crazy to me every time I watch it,” one fan wrote. Another said: “I’m sure the number of zeroes on the cheque made it worth the embarrassment!!”. In Q4 2017, Shopee became the third most visited e-commerce portal in Malaysia, overtaking Lelong, and became the top app on iOS and Google Play app stores. A December 2017 survey revealed that Shopee

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1632-415: The customer selling to the customer. Revenues which support the company are derived through subsidiary channels, while maintaining the model and convenience of the site. In fact, Craigslist makes no money off the customer to customer interactions that occur on the classifieds of the website. All of their revenue is derived from portion of the website targeted at businesses. Thus, in other words, their revenue

1683-572: The day before the event. Shopee was investigated by the Department of Trade and Industry for the incident. In April 2021, Shopee faced allegations that it was underpaying its couriers in Indonesia after some riders claimed publicly that their pay per delivered package was reduced by the company to US$ 0.10 per package, down from US$ 0.34 in the previous year. Couriers that serve Shopee Express deliveries were also not paid basic monthly salaries, though there

1734-490: The fast-paced advancements in technology, auction sites must respond to these changes by staying updated. Moreover, sites also need to constantly search for business opportunities in order to expand their market. A large network of users is also crucial. Having an array of different sellers, buyers, suppliers, and delivery agents will increase the number of users, which would also raise the level of interactivity. In addition, forming alliances with different partners will also aid in

1785-503: The first half of 2022 which is attributed to faster growth in transaction-based fees and advertising income. Coupled with rising inflation and interest rates as well as setbacks in its internationalisation plans, Shopee laid off staff across multiple markets in June 2022, including employees from Indonesia, Thailand, and Vietnam. ShopeePay and ShopeeFood were also reported to be facing cuts. On 15 September 2022, Sea's CEO, Forrest Li , issued

1836-715: The first time, amounting to $ 196.1 million, indicating improvements in revenue and operating costs. In 2023, Shopee introduced the Brand Protection Partnership (BPP) initiative to enhance intellectual property protection for its brand partners. Shopee started as a consumer-to-consumer (C2C) marketplace but it pivoted into a C2C and business-to-consumer (B2C) hybrid model. The company partners with over 70 courier service providers across markets it serves to provide logistical support for users. In Singapore , Shopee collaborates with logistics startup Ninja Van for item pickup and delivery. Other delivery partners in

1887-402: The interactivity. With the growing need for convenience, the variety of products offered can greatly attribute to the client basis. Especially with the growing number of online frauds, trust is essential in auction sites. Users must be guaranteed that their personal information will remain secured and that they will receive their purchased product in a perfect condition and in a timely manner. With

1938-399: The internet. Potential buyers will become aware of products or services by conducting searches on the websites. Aside from possible fees and commissions imposed by the auction or listing site, advertising in this market does not require a substantial amount of money. Customer to Customer C2C marketing has become very popular in recent years. Customers can directly contact sellers and eliminate

1989-428: The middle man. Moreover, anyone can now sell and advertise a product in the convenience of one's home – enabling one to easily start a business. Therefore, a wide variety of products can often be found on auction sites such as eBay, including second-hand goods. Since the majority of these sales occur over the internet, sellers can reach both national and international customers and greatly increase their market. Feedback on

2040-696: The platform would introduce Toni Gonzaga as its brand ambassador a day after the company's reported massive layoff. This was confirmed the following day at a press conference. While various reasons were pointed for the backlash from the ethical issues with getting a highly-paid endorser to the endorsers' political activities, Gonzaga only appeared on the company's platform for a total of ten days before introducing another endorser for their 11.11 campaign, businessman and singer Jose Mari Chan . In 2022, Shopee had to lay off 600 people which amounted to 3% of its employees. Consumer-to-consumer Customer to customer ( C2C or consumer to consumer ) markets provide

2091-551: The price. Consequently, many users have purchased products at unnecessarily inflated prices. Identity theft has become a rising issue. Scam artists often create sites with popular domain names such as "ebay" in order to attract unknowing eBay customers. These sites will ask for personal information including credit card numbers. Numerous cases have been documented in which users find unknown charges on their credit card statements and withdrawals in their bank statements after purchasing something online. Unfortunately, websites often have

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2142-412: The products that are marketed via this method. However, in the case of individuals who are looking to sell a product or service they have developed to be sold on the small-scale, there is a product development life cycle. However, even when a product goes through a development life cycle when marketed in this manner, seldom does traditional marketing research occur. Oftentimes individuals are looking to make

2193-406: The purchased product is often requested to aid both the seller and potential customers. The actual buying and searching process is simplified and search costs, distribution costs, and inventory costs are all reduced. Moreover, the transactions occur at a swift rate with the use of online payment systems such as PayPal. Although online auctions allow sellers to display their products, there is often

2244-468: The quarter also rose by 28.6% to US $ 23.1 billion. In June 2019, #ShopeeScam trended on Twitter after Shopee released a promotion in the Philippines that offered passes to a meet-and-greet with Blackpink for the top 568 spenders in their online store. Several fans reported receiving notifications that they had won tickets, but which were unilaterally retracted afterward by Shopee. Others posted screenshots that showed Shopee changing their contest mechanics

2295-418: The range of products that it offers to facilitate trading on the site, including payment services , shipping services, authentication, appraisal, vehicle inspection and escrow services. Specialty marketplaces have also been added to serve the specialized needs of buyers and sellers. For example, eBay Motors serves the automotive marketplace, including vehicles, parts and accessories; and Half.com (now closed)

2346-482: The region include Pos Malaysia and Pos Indonesia . Shopee also partnered with Delhivery and Ecom Express for deliveries in India before it exited the domestic market. In its early phases of growth, Shopee offered subsidies and free shipping to its users although delivery services were still expensive in the areas it serves. Shopee had also received extreme international attention in 2019 after signing Portuguese and Juventus superstar Cristiano Ronaldo to be

2397-511: The site's success. The level of commitment in buyers and sellers also plays a role in the auction's success. Similar to the level of trust, buyers must be ensured that they receive their purchased item, and sellers must actually receive payment. Although most prefer speedy online transactions, it is beneficial to offer different payment options that will accommodate different buyers. Internet classifieds are another example of customer to customer marketing. An example of an internet classified company

2448-605: The value of the product. The investment into conceptualising and developing a top-of-the-line product or service that consumers are actively looking for is equitable to retail pre-launch product awareness marketing. There are many different classifications of marketing. From Government to Business (G2B), Business to Business (B2B), Business to Consumer (B2C), to Customer to Customer (C2C). While many companies usually operate in one or more of these areas, Customer to Customer businesses operate only within that specific area. Customer to Customer marketing has become more popular recently with

2499-458: Was established in Singapore in February 2015 as a mobile-focused marketplace that enables users to browse, shop, and sell products. The platform integrates logistical and payment support to facilitate transactions and is designed to operate with minimal physical assets. To enhance its competitive stance against other e-commerce companies, Shopee also launched a website. A notable feature of Shopee

2550-399: Was focused on providing a fixed-price trading environment, initially for books music, videos and video games. There are various platforms that Consumer-to-consumer e-commerce is taking place on, such as social media (e.g. Facebook, Reddit), advertisement websites (e.g. Craigslist) and online auction sites (e.g. eBay). Consumer to Consumer transactions often involve products sold via either

2601-508: Was the top shopping platform for Indonesian mothers, with 73% preferring it over other platforms. Despite Shopee's reported GMV growth, these claims faced criticism. Lazada's former CEO, Max Bittner, asserted that GMV numbers could be inflated through subsidy schemes and that GMV tends to decline once such subsidies are removed. Shopee was recognized as top shopping app in Q2 2019 based on monthly active users, total downloads, and website visits, as per

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