Popular e-commerce company Shopee, owned by Sea Ltd, has posted impressive performance as its hyper-local delivery strategy through SPX Express has been a key driver of its rise.
The company's shares have surged more than 300% since early 2024.
SPX Express's operations leverage community workers including housewives, retirees and students, who now handle the bulk of Shopee's billions of packages each year.
With a network of over 3,500 collection points in homes, shops and lockers across Singapore, 90% of packages in the country can be delivered the next day, while almost half of shipments in Asia arrive within two days.
The success has helped Sea approach a market value of US$100 billion, with 33 out of 41 Bloomberg analysts giving its shares a "buy" rating.
According to analysts, SPX Express's strength lies not only in speed, but also in the close relationship between shippers and the community, making Shopee a part of everyday life in Southeast Asia.
However, this strategy faces challenges such as tight profit margins, complaints about public space usage, and fierce competition from TikTok Shop.
However, for now, Shopee's orange color remains firmly in dominating the e-commerce landscape!
