Lazada sees high potential and fast growth potential in Vietnam
Lazada sees high potential and fast growth potential in Vietnam
Lazada Group president Jing Yin highly appreciated the Vietnamese market, claiming it one of the most important markets of Lazada.
“We see huge and fast development potential in the Vietnamese market for Lazada based on a foundation of stable economic growth, high proportion of young people, and the high number of Internet users, and especially the high demand for home electronic appliances,” Jing told VIR during Lazada's celebration of its 7th birthday anniversary in Singapore on March 21.
He added that the South Asian market, including Vietnam, is very young therefore it creating and innovating advanced technologies which can bring more experiments to customers can be very effective.
Asked about plans to cope with counterfeit goods, Jing Yin said that the group has set out close regulations on controlling the quality of goods. Together with this, the group also set up an advanced security system and enlisted thousands of experts who can appraise and check the quality of all goods.
Lazada runs regular after-registration tests for all brands to select and remove brands which are not of an adequate quality for the platform.
Lazada has launched a range of initiatives to consolidate its business activities with the latest idea of combining shopping and entertainment in their platform.
Pushing the boundaries of e-commerce in Southeast Asia, Lazada is driving ‘shoppertainment’ to provide shoppers with a fun, interactive, and entertaining experience.
Lazada has also announced rolling out an all-encompassing series of products and services that will fire up the growth of its brands and sellers to win market share in the region by transforming them into “Super eBusinesses.”
The offerings, dubbed super-solutions, are aimed at resolving three pain points that brands and sellers face – branding, marketing, and sales.
“No seller is too small to aspire and no brand is too big to be a Super eBusiness. That is why we are thrilled to roll out super-solutions to help our brands and sellers become more nimble in digitising their businesses and reach customers easier,” said Pierre Poignant, Lazada Group’s chief executive officer.
At the same time, Lazada also formalised co-operation partnerships with 12 leading global lifestyle, technology, and fashion companies that will boost collaboration and strengthen their online retail presence.
Backed by Alibaba’s technology and logistics infrastructure, over the past year Lazada has been able to launch industry-leading tech innovations like image search function, consumer engagement games, and in-app live streaming to become the region’s only “shoppertainment” platform where people can watch, shop, and play.
Further promoting excellence in e-commerce, Lazada also handed out awards to top performing brands that have proven to be shining examples of “e-business.” Five awards were presented to outstanding brands and sellers that have been constantly innovating to drive new ways to reach their customers on Lazada.
Launched in 2012, Lazada is now present in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
