Lazada predicts 35% rise in 2020 market
published : 18 Jun 2020 at 07:33
newspaper section: Business
writer: Komsan Tortermvasana
Thailand's e-commerce market is expected to surge 35% to 220 billion baht in value this year thanks to the online shopping trend, accelerated by months of lockdown, says e-commerce platform Lazada.
Lazada Thailand said during the lockdown from March to May, the number of new sellers joining its platform grew more than 75% and millions of new buyers came on board.
Some 90,000 new sellers joined and participated in Lazada's assistance package for small and medium-sized enterprises (SMEs), which offers no commission and no payment fees.
Lazada said from March to May, shoppers spent 30% more time than average on the platform.
Paradee Sinthawanarong, chief marketing officer of Lazada Thailand, said people's digital lifestyle and digitisation throughout the economy has taken hold, even after the lockdown has been lifted.
Overall e-commerce activities and online entertainment have been strengthened by the measures imposed during the crisis, she said.
For the Lazada platform in Thailand, the number of sellers and brands coming on board doubled in the first half this year, compared with the same period a year earlier.
Sports toys, outdoor play items, small kitchen appliances, furniture and exercise and fitness equipment are best-selling products that have increased sales by at least 250% to above 500% during the lockdown between March and May.
"Lazada operates e-commerce content and activities under the shoppertainment strategy that grows the consumer base beyond just transactions," Ms Paradee said.
Consumers can utilise the platform for live streaming, playing games or hunting for deals."
Lazada is also focusing on LazLive, an in-app feature that allows sellers to engage consumers in real time through live-stream shopping and entertainment. The feature was rolled out in November 2018.
"LazLive enables higher transactions and a more seamless experience for consumers," she said.
Since the feature was launched, more than 200 million views have been recorded with 6,000 sessions hosted on average weekly on the platform across the region.
During the lockdown period, LazLive generated more than 1,500 general content items per week and new live presenter numbers increased by 30%, while the number of live sessions rose by 25%.
Emily Liu, senior vice-president for new business at Lazada Thailand, said a live online festival was held yesterday to demonstrate Lazada as a leading lifestyle destination for sellers and customers. The event offered deals and entertainment to customers.
This festival precedes Lazada's mid-year super sale event that runs from today to Friday.