Tips on how Shopee Sellers were able to build a successful business online

With inflation rising and economic recession looming, it may seem difficult for aspiring entrepreneurs to invest in an online business. Despite the economic situation and the challenges it poses, Davao-based Shopee sellers Shiela Reyes-Lao and Lou Putian prove that one can still manage to start an online business and become successful.

In a recent face-to-face event held by Shopee for Davao-based entrepreneurs, both sellers shared how easy it was to join and grow their businesses on Shopee, even in the face of economic uncertainty.

Tip #1: Just go online, digitize your business

SY Glow Cosmetics owner Lou Putian’s e-commerce journey started when her husband, an Overseas Filipino Worker, was sent home in 2020. “We had little to no income at the time. To continue paying our bills, I started selling bath and body care essentials haphazardly online until some of my loyal customers urged me to set up a Shopee store,” she shared.

In just 2 months after creating an account and learning how to market her products through the platform, her sales greatly increased. “From barely making ends meet then, I’ve now been able to fulfill my dream of purchasing houses for family members and even establishing my own warehouse,” she added.

Meanwhile, Shiela of Cacao Culture, already joined Shopee in 2017. However, she and her team only focused their efforts on the platform after the pandemic affected their operations. “Initially, our Shopee account was only meant to supplement our retail store sales. But when the pandemic hit, we were forced to close down our physical stores and outlets—prompting us to refocus our efforts on e-commerce,” she shared.

Since making the leap to e-commerce, Shiela grew her sales volume 7x. Cacao Culture’s growth and visibility on the platform also encouraged Shiela and her team to carry more Davao-based cacao brands and sell them nationwide.

Tip #2: Maximize Shopee’s convenience, seller tools, and nationwide logistics network

Besides the need to shift to a new income stream, what drew both sellers to Shopee was how easy it was to onboard into and sell on the platform. “With Shopee, all you need is a mobile phone and internet connection,” shared Lou. “The convenience that Shopee offers allows entrepreneurs like me to manage my own business and care for my family, all from the comfort of my own home.”

Having benefited from the seamless Shopee experience to easily bring sellers online, Shiela also highlighted that growing and sustaining one’s business is another story and different kind of challenge. Fortunately, Shopee offers tools like insights and marketing solutions to help sellers further their business growth and visibility. Moreover, Shopee’s continuous logistics expansion nationwide also allows sellers like Shiela to reach more customers.

“As a Davao-based seller, I found it challenging to sell my products online and attract more buyers at the beginning. Through Shopee’s establishment of more hubs in Mindanao and the tools on the platform’s Marketing Center, I was able to attract more customers nationwide by setting up promotions, discounts, and vouchers,” she said.

Martin Yu, Director at Shopee Philippines said, “It is heartwarming to hear Lou and Shiela’s success stories as it is a testament to what sellers are capable of achieving on Shopee’s platform. Through seller education activities, the continuous advancement of platform features, nationwide hub expansion, and other initiatives, we strengthen our commitment to deliver a safe and convenient online shopping experience for both our customers and sellers, no matter where they are in the Philippines.”

If you want to grow your business online and enjoy the numerous benefits of e-commerce, start your online selling journey with Shopee today. Download the Shopee app for free via the App Store or Google Play.

Buying a Car in the New Normal: 3 Things to Consider Before Making the Decision

Having a car has never been more important. Due to the pandemic, a car has become a necessity rather than just a luxury since commuting or taking public transport increases our chances to be exposed to the virus. It is now considered to be a "safer" option if we use our own. Having a car is also helpful during medical emergencies especially when there is no ambulance available in the area.

Unfortunately, buying one may not be easy since it comes with a hefty price tag. In fact, buying a car nowadays is more expensive. According to Forbes, in January 2022, 82.2% of all new-vehicle purchases were above the manufacturer’s suggested retail price. This is because of several factors including the pandemic, shortage of semiconductors (chips), and now the war in Ukraine. With skyrocketing prices, potential buyers will need to do research and adequate planning before making a decision.

Here are 3 things to consider before buying a car:

1. Determine what type of car you need

Given that there are so many different models and car types available, it is important to find a car suitable for your needs. Ask yourself these questions

• What is the main purpose or how do you intend to use the car? Is it for city driving only? 
• Who will be using the car? How many passengers?
• What cargo capacity do you need?
• Are you looking for manual or automatic transmission?
• If you are considering larger vehicles, do you have enough available parking space at home?

Based on your answers, you can narrow down your choices and come up with a list of the cars that will fulfill your requirements. 

Also, check your priority when it comes to cars - Is it engine power or fuel efficiency?

Due to increasing fuel prices, we have to consider the fuel consumption of our chosen vehicle. More horsepower generally means higher fuel consumption. Choose a vehicle with no more horsepower than you actually need in that way you can save on fuel and reduce environmental impacts. 

2. Decide Whether to Buy a New or Used Car

Getting a brand new or a used car has both advantages and disadvantages. Brand new cars are more reliable, have increased durability, and have better fuel efficiency. Used cars, on the other hand, are more affordable and cheaper given that the bulk of depreciation already occurred. 

Please note though that buying a used car doesn't necessarily result in savings. Used cars may likely cost less to purchase but one may still end up paying more in the long run due to maintenance costs. Thus, in case you decide to get a used one, the ideal age for a used vehicle is 3-4 years old maximum. 

3. Set a Budget and Check Financing Options

Budget is a top consideration when buying a car. Decide how much are you willing to spend not just on the purchase but also on the operating and maintenance costs of the car.

According to the 20/4/10 rule, it is recommended that car buyers should at least make a 20% down payment on a car with a four-year car loan and then spend no more than 10% of their monthly income on transportation expenses. Monthly transportation expenses include your auto loan payments, maintenance, gas, and car insurance. 

You can check how much will you spend on gas, here.

If you are planning to apply for financing, it is important to determine how much monthly payment can you afford.

Make use of online tools like CarPaymentCalculator.net to help you determine your monthly auto loan payments while considering your downpayment, rebates, interest rates, and sales taxes. It's easy to use and produces instant results. You can even create and print a loan amortization schedule which many find really helpful. 

Conclusion

Whether you are a new car owner or not, it is important to consider all of these things in that way, you can avoid costly mistakes of getting the wrong car or a financing plan that doesn't work for you. 

Once you have done research and planning, you will have the confidence that you made the right decision. You can simply sit, back, and relax. or better yet, play the Cars Lightning Speed (a racing game based on the Disney animated movie series)