Revenue doubles, Lazada says ASEAN e-commerce prospects are good

Today, according to foreign media reports, Lazada, a representative e-commerce company in the ASEAN region, said: "ASEAN e-commerce will develop from the initial stage to a more mature stage, with high-quality products, innovation, creativity and new customer experiences."

Last year, ASEAN added 40 million new internet users, meaning 70% of the region’s population now has internet access. Lazada said it expects online spending in ASEAN to reach $172 billion by 2025, about 2.8 times that of 2020.

“In times of COVID-19, resilience and innovation are key to overcoming the challenges of cross-border e-commerce. Lazada is very optimistic that all countries in Southeast Asia will be able to flatten the curve and emerge stronger than ever before,” said Lazada Group CEO.

In addition, at the "Brand Future Forum 2021", Lazada Indonesia executives said: "Innovation and creativity, various cutting-edge technologies and amazing customer experiences will continue to change e-commerce due to the continuous development of online technology."

According to data disclosed by Lazada, Lazada has an average of 150 million active users per month, and its online transaction volume has increased by nearly 100% year-on-year, while the number of buyers of Lazada's high-end specialty brand LazMall has also doubled year-on-year. According to Lazada's Digital Commerce Confidence Index, 70% of ASEAN online sellers are confident about their business prospects and growth in the next three months, and the ASEAN market is booming.

James Chang, head of strategic customers and retail at Lazada Group, said that ASEAN has a large young population and its middle-class sector has expanded while its GDP has grown rapidly, which has accelerated the development of the local retail industry and is expected to grow at an annual rate of 5% by 2025. At the same time, the impact of the COVID-19 pandemic has also driven the development of e-commerce in ASEAN.

Jmaes Chang emphasized that although e-commerce in ASEAN is still in its infancy compared to other regions such as China, as the e-commerce market becomes more and more mature, consumers will gradually gain trust and accept this new consumption model, and online sales will increase significantly.

E-commerce has created a holistic and synchronized experience for ASEAN residents through rich data and technology, while big brands have brought people a sense of trust and security. I believe that with the complementary effect of the two, the ASEAN market will surely leap forward and become a "hot commodity" that major e-commerce companies are vying for.

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