LAZADA’s 11.11 Biggest One-Day Sale generated more than 25 times the sales of a typical day for top Malaysian homegrown brands, with top micro, small and medium enterprises (MSMEs) exceeding the RM1 million threshold in a single day.
According to Lazada, local MSMEs continue to develop at a robust pace as the local economy gradually recovers with nearly one in every two newly onboarded businesses securing their first online customer within less than seven days after going live in the lead-up to the recent Lazada 11.11 shopping season.
“It is exciting to see that local MSMEs and homegrown businesses are embracing digitalisation and showing a healthy growth trend, from store set-up to their first successful sale and beyond, as seen during the recent 11.11 Sale,” said Lazada Malaysia chief executive officer Darren Rajaratnam.
“We are inspired by their resilience and will continue to support their growth by connecting them to our community of online shoppers.”
According to Lazada’s latest Digital Commerce Confidence Index (DCCI) report, 76% of Southeast Asia’s online sellers stated that they are optimistic about future growth despite a challenging operating environment.
The findings also indicated that ahead of the year-end online shopping festivals such as 11.11 and 12.12, businesses looked to ramp up their inventories and staff levels.
Businesses saw their preparations bear fruit as Lazada Malaysia saw a 24-time increase in local buyers on its platform during the first 2 hours of the 11.11 sale this year, compared to an average day during the same period, demonstrating a burgeoning trend of midnight bargain hunters with a high purchase intent.
“This upward trend served as a springboard for local businesses to gain new customers and accelerate their digital growth,” it added.
11.11, dubbed the year’s most anticipated shopping event, is widely regarded as the mother of all online sales.
First introduced by Lazada to Southeast Asia in 2013, Lazada’s ‘11.11 Effect’ has now become the industry standard, popularising double-digit mega sales and cultivating a vast online shopping community across the country, propelling economic activity in the digital space. – Nov 24, 2021
