E-commerce platform Lazada is committed to investing in its "mega shopping campaigns" to stimulate purchases amid economic headwinds, while pursuing offline entertainment activities to engage with high-spending groups, particularly Gen Z.
According to the firm, Thailand's online business-to-customer (B2C) segment is expected to make up 16% of the total retail market by 2025, up from 8% at present.
Lazada is the Southeast Asian e-commerce arm of Chinese multinational tech firm Alibaba Group Holding, which conducts its biggest shopping event annually on Nov 11 to mark China's informal Singles' Day.
"With support from Alibaba, we will continue to invest cautiously to stimulate the economy and support sellers on the platform, including offering a bigger budget for the 11.11 mega shopping campaign this year," said Thanida Suiwattana, chief business officer of Lazada Thailand.
For the 11.11 shopping festival this year, Lazada is not only offering up to 90% discounts and free delivery coupons, but also conducting offline entertainment activities to improve people's shopping experience as part of online-to-offline (O2O) integration.
Concerts are scheduled for Siam Square in the lead-up to Nov 11 with artists including Lazada brand ambassador Thanon Jamroen to support engagement with Gen Z.
Lazada also plans to organise 11 "Surprise Boxes" events across Bangkok until Nov 11, allowing people to scan a QR code for presale deals from brands, she said.
"We will provide more shopper entertainment experiences," said Ms Thanida.
Varitha Kiatpinyochai, chief operating officer of Lazada Thailand, said the number of Gen Z users on Lazada grew threefold between April and September this year, with fashion and beauty the most popular categories.
Lazada has 1 million sellers in Asean.
A Lazada report found 43% of consumers surveyed said e-marketplaces are their search tools for products, while almost 50% of purchases on e-commerce platforms are unplanned.
The firm expects 57% of users to use e-commerce platforms as a starting point for product discovery.
Regarding the 9.9 shopping festival, LazMall, a brand-focused offshoot of Lazada, reported sales jumped 23 times from a typical period, which demonstrates the importance of the campaign, said Ms Thanida.
This sales figure gives Lazada optimism for the 11.11 festival, she said.
Some new categories such as automotive and travel are gaining in popularity, said Ms Thanida.
Lazada plans to offer more frequent shopping campaigns, including mid-month and payday, in addition to the five mega double-day campaigns, while providing a greater assortment of products, she said.
