Shopee Emas
Background & Objectives
Shopee Emas is the first investment product launched in Shopee. Emas means “gold” in Bahasa Indonesia. As gold is one of the most popular investment project in Indonesia, Shopee decided to venture into investment products starting from Shopee Emas, in order to increase the total GMV and product assortment of Digital Purchase.
Role & Responsibilities
2020-2021 Individual Designer
- Conduct preliminary research
- Provide design solutions for initial product launch
- Conduct usability testing
- Monitor performance data after launch and come up with improvement plans
Design Research
According to the user research, the cost of switching investment platform for an existing user is high (87% are not willing to switch investment platform unless there’s a direct discount in price). So our target audience should focus on new users who:
- Never purchased gold before
- Purchased gold before, but never purchased online
Design Strategy
Upon further examination of the advantages and disadvantages of e-gold, I clarified our key design challenges:
- Create a sense of ownership & secure
- Reduce the barrier for registration & KYC
Attract New Users
A separate product page is designed for new users to display the key selling points of e-gold and to attract new users in the first glance.
Create a Sense of OwnershipThrough Visual Representation
A realistic illustration of gold is added below the gold weight, to create a visual sense of ownership.
The illustration will change from a gold bead to gold blockes according to the weight of gold owned by the users.
Reduce the Barrier of Registration & KYC
KYC (know your customers) has to be conducted before users start their gold investment, but the process may intimidate many new users.
Offline KYC also has to be conducted in an offline gold selling outlet within 3 months of account registration. Before that, users have a daily transaction limit of 10 grams.
Our strategies for reducing the barrier for the KYC process are:
- Postpone the KYC process after gold amount selection
- Emphasise the benefit of offline KYC, instead of show it as a requirement
Price Chart Component
As the first launched investment product in Shopee, common reusable component such as the line chart was clearly defined with detailed interaction rules.
The component has to be responsive and scalable so that it can be reused for future similar products.
User Testing
User testing is conducted after the initial design mockups are done. 20 potential local users aged from 25-36 were recruited for the session. General background questions were first asked to understand their investment behaviours and overall concerns regarding e-gold investment.Prototype testing was then conducted. Some basic tasks such as “buying Rp10.000 of gold” or “checking the gold price 2 days ago” were assigned to the testers. They were asked to complete the tasks with 3 design options.
Many of the design strategies mentioned above came from the insights gathered in this user testing session. It greatly helped our design decision making, and gave us a better understanding of users’ expectations.
Performance Evaluation
After initial launch, Shopee Emas has achieved success beyond expectation within the first month:
- Contributed 13.5% of the Digital Purchase total orders
- No.3 most popular Digital Purchase product (out of total 24 products, behind mobile top up and data roaming)
- The drop-off rate of Shopee Emas KYC is 53% lower than that of ShopeePay KYC
However, there are areas of improvements that we realised, but didn’t manage to implement in the first phase:
- Monthly reminder & subscription
- Campaign and promotion features
In the meantime, users’ feedback and product performances metrics are constantly monitored in order to get the directions for future improvements.
