Connect with us

Hi, what are you looking for?

News

Lazada sees ‘above average’ PHL growth in the region

SINGAPORE – E-commerce platform Lazada said that the Philippines is among its leading markets in Southeast Asia on the back of its improving internet penetration and consumer base.

“Among countries, the Philippines is already one of the leading ones, market-size wise. It’s above average, for sure. We have a very large population base here. Gross domestic product per capita growth is also high. Internet penetration is still growing. I think the growth speed-wise, it is slightly above average in Southeast Asia, for sure,” Lazada Group Chief Executive Officer (CEO) James Dong said in an interview on Wednesday.

Further, Mr. Dong said that Lazada holds a strong market position in the Philippines and the other countries where the platform is operating. He opted not to disclose specific figures on the company’s financial performance.

“At least in the region…, we are the number one or two player in all the markets that we operate in. We tend to keep that market position,” Mr. Dong said.

Separately, Lazada Philippines CEO Carlos Barrera said that there are opportunities for the company to grow, particularly in the logistics sector.

“We are in a position where we can continue to grow and invest and support the country. Obviously, we’re reaching some good critical sites,” he said, adding that there are “still so many opportunities to invest and to grow, specifically in the logistics domain.”

Mr. Barrera added that Lazada is continuing its efforts to expand the company’s reach in the Philippines.

“Both we and our partners are constantly expanding the coverage and the reach… Today, there are about 35 logistics companies in the country and more than 1,000 delivery hubs from different companies even in the remote locations,” Mr. Barrera said.

“Definitely, logistics is a big opportunity from first-mile delivery, middle-mile, to last-mile. It’s an industry that has been growing and will continue to grow,” he added.

Further, Mr. Barrera said that Lazada is aiming to make more affordable products available to Filipinos.

“The goal of this year is to have more frequent purchases and to provide more opportunities to capture more categories and more products from lower price points,” Mr. Barrera said.

“From a company perspective, improving loyalty retention, getting users to spend more time with us, is very, very important. Filipinos have traditionally been very loyal, but now after the pandemic, it’s important to continue improving this,” he added.

Meanwhile, Mr. Dong said that Lazada remains confident in terms of achieving growth in the region despite challenges such as the rising interest rate and inflationary pressures.

“I am confident because we did not pursue overly aggressive growth — which up until the first quarter of 2022, seems to be the direction and strategy for many players in the region,” Mr. Dong said during his keynote speech at the Lazada’s Brands Future Forum on Thursday.

“We are here for the long haul, to achieve sustainable, long-term growth… Our key mission is to build an engaging shopping platform that provides the best customer experience, with a clear differentiation tailored to each market,” he added.

Lazada, which is the Southeast Asian unit of Chinese e-commerce giant Alibaba Group, is targeting to serve 300 million shoppers by 2030 and to post $100 million in annual gross merchandise value.

Founded in 2012, Lazada has operations in six Southeast Asian countries including the Philippines, Indonesia, Malaysia, Singapore, Thailand, and Vietnam. The e-commerce platform currently has about 160 million active users and over one million active sellers every month.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.