Zalora expects Southeast Asian consumers’ demand for luxury goods to continue to grow

During the epidemic, people's purchasing power and consumption concepts have changed. The demand for luxury goods has not declined as sharply as imagined, but on the contrary has shown a continuous growth trend.

Online fashion site Zalora expects demand for luxury goods purchased from e-commerce platforms to continue to grow despite Southeast Asia's growing middle class and changing consumer preferences .

Zalora said luxury goods were the fastest-growing category on the platform since its launch last year.

Zalora said: "Since we launched the luxury category, we have seen tremendous growth, with overall year-on-year growth of 158% across all our markets . " During the epidemic, people were forced to stay at home and online shopping became popular, which is also one of the important reasons for changing consumer preferences.

The emergence of alternative payment methods such as the “buy now, pay later” model has also encouraged consumers to buy luxury goods online.

With the maturity of the e-commerce sector and the rise of the middle class, there will be more and more high-end consumers in Southeast Asia , and Zalora also sees opportunities in the region's luxury market.

Eric Cheang, sourcing director at Zalora, said : “ More and more consumers regard quality as the most important thing and are willing to try to find other channels that can provide better quality goods, of course, including the best after-sales service. Therefore, we expect Southeast Asian consumers ’ interest in luxury goods will continue to grow in the long run .”

In addition, Cheang said Zalora will expand its luxury and high-end international brand products. Zalora held its first Luxury Festival a few days ago, which will end on June 20. During the Luxury Festival, consumers can not only enjoy discounts, but also buy goods from different brands such as Ferragamo, Prada, Saint Laurent and Balenciaga.

Founded in 2012, Zalora offers luxury, fashion, beauty and lifestyle products and is currently present in the Philippines, Singapore, Indonesia, Malaysia, Brunei, Hong Kong and Taiwan.

Southeast Asia