BANGKOK, Thailand – Lazada Thailand today unveiled its latest achievements, reinforcing its position as the leading eCommerce platform for both shoppers and sellers. The company has outlined three key strategies to strengthen its ecosystem:
- Boosting shopper loyalty in the premium, fashion, and beauty segments
- Enhancing innovation to promote engagement
- Offering tailored benefits and additional services for sellers
These efforts aim to sustain long-term growth following the company’s first positive EBITDA across the region this year.
- – Thai E-Commerce Market Soars to 5.96 Trillion Baht in 2023
- – The Rise of E-commerce and Its Impact on Traditional Retail in Thailand
Varitha Kiatpinyochai, Chief Executive Officer of Lazada Thailand, stated, “For over 12 years, Lazada has driven innovation and economic growth in Southeast Asia, alongside developing a robust eCommerce business. This is reflected in Lazada Group’s positive EBITDA milestone across six countries in July 2024. This is testament to the success of our long-term strategy, focusing on operational efficiency and business stability over short-term goals, aiming for sustainable long-term growth.”
The Thai eCommerce industry continues to show growth potential. In 2023, Thailand was the second-largest market in Southeast Asia, with a 20% growth rate from the previous year, surpassing the regional average. Lazada will continue to invest in Thailand, focusing on three strategic areas: shopper experience, innovation and technology, and supporting Thai businesses.
Enhancing Personalized Experiences To cater to the growing female shopper base and the more dominant role of Gen Z consumers, Lazada will adopt a more “Customer-First” strategy, offering more personalized shopping experiences to increase brand loyalty and user stickiness. This will be achieved by assortment differentiation in the premium, fashion,and beauty categories, which are the platform’s strengths. In Thailand, LazMall has seen a remarkable seven-fold GMV uplift during the mega campaign, while LazBEAUTY membership has surpassed 1 million.
In the final quarter of 2024, Lazada will strengthen LazMall by expanding exclusive brand partnerships and targeting the luxury segment through LazMall Premium Brand. Additionally, LazLOOK will be emphasized as a shopping destination for trendy fashion items through weekly campaigns designed to excite and engage shoppers.
Investing in Innovation and Technology
Committed to making shopping more convenient and enjoyable, Lazada will leverage AI technology to drive innovation and new features. Gamification will remain a key strategy for shopper engagement. LazGame has been well-received in Thailand, with over 1 million daily users. LazGame users also spent three times longer on the application compared to the platform average, and 82% have revisited the application daily.
Another successful innovative feature is “Ask the Buyer”, which uses AI to invite previous buyers to review products,helping new buyers make informed decisions. To date, there have been over 1.5 million responses from real buyers.
Supporting Thai SMEs
With the goal to empower local sellers, Lazada has focused on developing eCommerce marketing solutions to uplift their operations, such as AI tools for image enhancement, product descriptions, and customer service, which have been shown to increase conversion rates by over 30%.
To support continuous growth for Thai sellers, Lazada will offer benefit programs tailored to various seller segments across their eCommerce journey. Additionally, Lazada has continued to develop services beyond transactions to help sellers offer seamless offline integration, such as appliance installation, add-on protection service, and mobile trade-in.
Lazada Thailand has also established long-term collaborations with government agencies to enhance the capabilities of Thai sellers and drive the country’s digital economy. On-going partnerships with government agencies include the Ministry of Commerce, the Ministry of Digital Economy and Society, the Ministry of Social Development and Human Security, the Tourism Authority of Thailand, and the Bangkok Metropolitan Administration.
#LazadaThailand #eCommerce #Innovation #SustainableGrowth #ThaiSMEs
