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.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malixi leads PHL campaign in As-Pac golf in Singapore | BusinessMirrorTHE Women's Amateur Asia Pacific Championship fires off Thursday at the Singapore Island Golf Club’s The New Course in Singapore with three of the world’s top 10 from Japan leading the chase along with solid Korean, New Zealand and Thailand contingents. Rianne Malixi carries the country’s colors in the tournament…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Lazada kicks off epic 11th birthday by celebrating Women's Month in styleThe ecommerce giant’s birthday party had the hottest stars and influencers, a larger-than-life LazLook mannequin, and stacks on stacks of deals for customers
Source: rapplerdotcom - 🏆 4. / 86 Read more »
PHL, Japan boost amity, map future of mutual ties | BusinessMirrorJAPAN’S envoy asserted that the recent official visit to his country of the Philippines’s Chief Executive reaffirmed their nations’ friendly ties, and charted their future course. At the National Day Reception of the Japanese Emperor’s 63rd birthday on February 22, Ambassador Kazuhiko Koshikawa underscored that the bilateral relations binding his…
Source: BusinessMirror - 🏆 19. / 59 Read more »
PHL to extend financial, in-kind aid to quake-hit Syria–PBBM | Samuel P. MedenillaPresident Ferdinand R. Marcos Jr. on Friday said the Philippines will provide financial and in-kind aid to Syria as the West Asian state and Turkey continue to recover from the devastating impact of a 7.8 earthquake last month. Citing the Department of Foreign Affairs (DFA), the Presidential Communications Office (PCO)…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Japan credit rater affirms PHL’s rating, cites economic resilience | Jasper Y. ArcalasJAPAN Credit Rating Agency (JCR) on Friday affirmed the Philippines’s investment-grade credit rating of A- with a stable outlook on the back of the country’s sustained economic growth that has been “resilient” to external shocks. “The ratings mainly reflect the country’s high and sustained economic growth performance underpinned by solid…
Source: BusinessMirror - 🏆 19. / 59 Read more »
SE Asian banks to weather fintech disruptions, says Moody’sBanks in Southeast Asia are in a good position to weather market disruptions from financial technology players considering that they have done well with their own digital transformation efforts, according to Moody’s Investor Service.
Source: inquirerdotnet - 🏆 3. / 86 Read more »