The Market Competition Environment of Shopee in Singapore

The Market Competition Environment of Shopee in Singapore
Competition is a critical challenge that every company must face. A unique competition strategy is necessary for the company to succeed in a highly competitive environment such as Shopee. The common strategy is product differentiation, which involves producing unique and quality products among the competitors. Shopee is among the top technology with headquarters in Singapore. The company faces stiff competition since it is new in the industry and was launched in 2015 (Shopee, 2022). Despite the competition, the company is intensively growing and has more than 20,000 employees. Therefore, the main aim is to analyze the competitive environment of Shopee by focusing on the multisided company competitors.
The competitive environment and Multisided Company Competitors
Shopee is facing intensive competition since it is based in the E-commerce industry. The current century is based on intensive digital growth and transformation. Therefore, competition is high due to threats of a new entrance. However, due to the intensive growth of Shopee in Singapore, it faces problems from multisided company competitors. The major competitor is Lazada. Lazada is also an e-commerce company established in 2012 and owned by the Alibaba group (Lazada, 2022). Therefore, it was established three years ahead of Shopee and had a strong customer base in Singapore. Lazada is a competitive threat since it has the largest platform in Southeast Asia and offers online services. Its sales characteristics are such as after-customer sales service to determine whether the customer is satisfied or not.
The second multisided company competitor to Shopee in Singapore is Qoo10. It is an e-commerce platform formerly called the GMarket. The company is also in Singapore and operates in other localities, including Indonesia. The key product is e-commerce, while the service is online shopping. The company has a strong customer base and was established in 2010, thus offering stiff competition to Shopee (Qoo10, 2022). The major sales ta...