Colgate-Palmolive, world’s leading consumer product manufacturer, has signed a memorandum of understanding with Shopee, to help realize its target to grow by more than 20 times its digital business in Southeast Asia and Taiwan by 2025.
Under the MOU with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, both parties will drive e-commerce penetration of Oral Care, Home Care and Personal Care products and category on Shopee, across seven markets in the region.
This effort reflects Colgate’s commitment to the market and a deepening collaboration with Shopee to help grow its digital commerce business across Southeast Asia and Taiwan, more than 20 times by 2025, said Colgate-Palmolive.
Starting 2022, Colgate-Palmolive will become a strategic partner under Shopee’s Regional Champion Brands Programme, which will help to strengthen Colgate-Palmolive’s online presence and deliver more of their innovative and high-quality products to millions of households through Shopee’s extensive reach.
As more consumers in Southeast Asia continue to adopt e-commerce, online sales is projected to generate 21 percent of the total market revenue of the Personal Care category by 2023.On Shopee, the Oral Care segment of the Personal Care category is one of the fastest-growing subcategories, driven by the shift to shopping online for daily essentials and increasing demand for innovative products such as electric toothbrushes.
Mukul Deoras, President of Colgate-Palmolive APAC, said, “We are excited to grow our partnership with Shopee to better serve our customers in the region. As the world’s leading Oral Care company, we look forward to winning together in Personal Care with Shopee by maximising the potential of our digital commerce business. To achieve this, we will focus on delivering greater value and enhanced customer experiences through our differentiated product offerings and innovations.”
Since launching their official store on Shopee Mall in 2019, Colgate-Palmolive has achieved steady growth year-on-year, and has consecutively ranked among the Top 5 Personal Care brands during Shopee’s year-end mega shopping campaigns. In the recent 11.11 Big Christmas Sale, Colgate achieved a record highest sales in a single day and grew more than 100 percent vs 9.9 Super Shopping Day.
For his part, Chris Feng, Chief Executive Officer at Shopee, said, “Shopee is glad to be a strategic e-commerce partner to one of the world’s most recognised Personal and Oral Care brands. As a market leader, Colgate-Palmolive has achieved tremendous growth in the past year and will be a valuable partner in helping to drive further online expansion of the
Personal Care category on Shopee. We hope to support Colgate-Palmolive in capturing more opportunities through our robust ecosystem and deep understanding of consumers in each market.”
To accelerate their growth momentum, Colgate-Palmolive will continue to activate a hyper localised strategy that delivers high value oral care innovations that cater to the evolving needs of customers. Earlier this year, Colgate-Palmolive and Shopee launched a joint oral care study to identify gaps, behaviors, and unmet needs of Generation Z shoppers.
As a result of the insights garnered, Colgate-Palmolive and Shopee co-created and launched a new toothbrush series with the “Brush Your Way '' regional campaign in Singapore, Malaysia, Thailand, Vietnam and Philippines. This first collaboration not only achieved a 14 times uplift in orders but also helped Colgate-Palmolive acquire 70 percent more new buyers on Shopee.
By enhancing data-sharing and leveraging mutual insights on consumer behaviour, Colgate-Palmolive and Shopee will be able to deliver more personalized and curated brand content to deepen connection with shoppers. Both parties are also committed to collaborating more closely on marketing and co-branding efforts, including piloting of new features and tools, as well as improving customer service to provide the best possible shopping experience on Shopee.