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Before you wind down from your day, here are the ecommerce headlines you should know.

1. Shopee marks rapid growth in Southeast Asia

Southeast Asian pure-play m-Commerce operator Shopee says it has reached $1.8 billion in annualised GMV just a year after its launch.

App-based Shopee operates in Singapore, the Philippines, Malaysia, Indonesia, Thailand, Vietnam and and Taiwan.

The Garena-backed company says it has achieved a month-on-month growth of 43 %, with 25 million downloads of its mobile app to date and 65 million product listings.

Read the rest of the story here

 

2. Retail ecommerce small but growing in Vietnam

However, despite all the optimism and the strong growth forecasted, retail ecommerce would still account for just 5% of total retail sales by 2020, if the target were to be reached, which puts Vietnam well behind Western countries.

Read the rest of the story here

 

3. Recommended Reading: Southeast Asia’s ecommerce future

The rate of digital adoption in Southeast Asia is unmatched. The Philippines sends more texts than any other country, and Jakarta is the world’s No. 1 city for tweets. There are more than 250 million smartphone users in the region.

Read the rest of the story here

 

 

Ready for the weekend? Check out today’s top ecommerce headlines first.

1. Tmall is turning black Friday into a Chinese phenomenon 

Chinese consumers will get some of the same bargains that Americans do after Thanksgiving, from the same retailers with just a few taps on their mobile phones.

Tmall Global, Alibaba Group’s cross-border e-commerce platform, for the first time has partnered with several U.S. brands including Macy’s, Costco and Target to launch the “Same Products, Same Time, Same Price, Same Black Friday” campaign. Starting with a pre-sale that launched on Monday and lasting through this coming Sunday.

Read the rest of the story here

 

2. Lazada CEO: Southeast Asian startups need core strategies to survive

Entrepreneurs need to know their core strengths and “it has to be something that only they can be good at,” said Maximilian Bittner, CEO of ecommerce firm Lazada.

But succeeding in building up core strengths might not be enough to stay relevant, especially with new and disruptive businesses constantly popping up.In the past, companies would have to invent something, whereas today, successful companies are those who meet a need at just the right time. Lazada’s Bittner shared that disruption in the competitive ecommerce space is something he has concerns about.

Read the rest of the story here

 

3. Walmart tackles food safety through block-chain trial

Like most merchants, the world’s largest retailer struggles to identify and remove food that’s been recalled. When a customer becomes ill, it can take days to identify the product, shipment and vendor. With the blockchain, Wal-Mart will be able to obtain crucial data from a single receipt, including suppliers, details on how and where food was grown and who inspected it.

Read the rest of the story here.

Ensogo Shuts Down All Marketplaces In Southeast Asia

Ensogo Office in Bangkok Source: bk.asia-city.com

Ensogo announces that it is shutting down all business units in Southeast Asia and laying off staff in the region.

This follows an array of bad news that has been following the company since the beginning of the year, including the firing of half its staff in May in an effort to save costs. In a statement sent to Tech in Asia, the company has announced that:

Ensogo Australia will no longer provide financial support to its subsidiary Southeast Asian flash sales and marketplace business units. This decision has been made to preserve the company’s cash for new investment opportunities.

Trading in the Ensogo stock was halted on June 17 prior to today’s announcement, and is due to resume today.

Ensogo owns a network of ecommerce websites in Singapore, Hong Kong, Malaysia, Philippines, Indonesia and Thailand. It has been struggling to strive in a competitive marketplace, and shifted from being a daily deals website in 2013 to a mobile marketplace in 2015.

What went wrong?

Ensogo initially started out in a time when Groupon popularized online daily deals. Eventually, this trend fizzled out and although Ensogo attempted to reinvent themselves, they struggled to catch up to larger ecommerce titans, the main challenge for the company was to convince consumers to engage with them even though Ensogo reported that it had 3.5 million users.

The trail of bad publicity continued in May 2016 when Ensogo merchants complained about not receiving payment. A report sent to the ASX earlier this year showed that the company’s total cash at hand stood at only $13.2 million US, which meant that if it did not raise additional money or trim costs, the company could run out of cash before end of 2016.

A version of this story was published in Tech in Asia on June 21. Read the article here.