Online lifestyle destination and e-commerce pioneer Lazada has just turned 11, growing consistently from being a retail business to now a major marketplace here and across Southeast Asia.
ONLINE lifestyle destination and e-commerce pioneer Lazada has just turned 11, growing consistently from being a retail business to now a major marketplace here and across Southeast Asia.
The top executive recalled that they begun to pivot as a platform business in 2014, allowing more sellers and more supplies onboard their online channel. He continued: “We started to grow around 2016, when we got the first round of investment from Alibaba.” “At the core of what we do at Lazada is transparency. And we believe it’s very important for us to have these returns, delivery warranty, money back guarantee. So that’s really [why] platforms [like ours] are probably [taking] the larger share of the e-commerce business,” he said of the entire Philippine online trade that generates between P11 billion to P15 billion sales annually with a penetration rate of 13 percent to 16 percent.
To that end, Lazada has invested much in other portfolios like LazBeauty and LazLook. While its average transaction tickets are slightly lower, the frequency has more than doubled as people seeking value for money keep on coming back more often to their platform.
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