Business

Market roundup: Shopee raises rates

Faced with a slowdown in business across the continent, Shopee is cutting vendor benefits in Brazil while it puts operations elsewhere in Latin America on ice

shopee brazil
Photo: Shutterstock

🔔 The dashboard: Brazil’s benchmark stock index Ibovespa gained 1.29 percent this week. Meanwhile, the Brazilian real gained 0.32 percent against the U.S. dollar this week.

  • Biggest gains: Vale (mining), +10.54 percent.
  • Biggest drops: Mafrig (food), -10.46 percent.

Shopee takes action in Brazilian e-commerce slowdown

Asian e-commerce behemoth Shopee, one of the primary arms of Singapore’s Sea group, announced a 2-percent increase to its take rate in Brazil starting on September 1. Now, Shopee’s standard plan will charge sellers a 14-percent commission while premium account owners will have to pay transaction fees of 20 percent.

What else? For its top-seller...

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