But the amount that people spend on each order could trend downwards, according to Kristine Lau, an analyst at research firm Third Bridge.
"Inflation's impact on discretionary spending is one," she said, referring to non-essential items such as entertainment and luxury goods. "For a lot of the high-frequency items or just daily necessities that people had to buy online — either it was out of stock offline or it just made more sense to use Shopee when everything is in lockdown — I think a lot of that would be reallocated to offline retail," Lau added.Net profit for the gaming arm was up 52.2% from the same period a year ago, but down 23.
Quarterly active users were down 32.9 million year-on-year, while quarterly paying users dropped by more than 18 million to 61.4 million from 79.8 million a year ago, matching worries that there is now weaker demand for mobile games in a post-pandemic world. Much of the loss could be attributed to a ban in India too. Earlier this year, India blocked Garena's hit mobile game Free Fire, along with 53 other apps with links to China.
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