KUALA LUMPUR: 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.
In a statement today, Lazada said as the local economy gradually recovers, local MSMEs continue to develop at a robust pace, 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.
"We are inspired by their resilience and will continue to support their growth by connecting them to our community of online shoppers," said Lazada chief operating officer Darren Rajaratnam.
According to Lazada's latest Digital Commerce Confidence Index (DCCI) report, 76 per cent of Southeast Asia's online sellers stated that they are optimistic about future growth despite a challenging operating environment.
The findings also indicated that before the year-end online shopping festivals, such as 11.11 and 12.12, businesses looked to ramp up their inventories and staff levels.
Lazada said businesses saw their preparations bear fruit as Lazada Malaysia saw a 24x increase in local buyers on its platform during the first two 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 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 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.
Being one of the first major e-commerce players in Malaysia that shaped the thriving modern-day digital economy, Lazada has been a key driver of digital transformation for both local MSMEs and large corporations.
Source: https://www.nst.com.my/business/2021/11/748065/top-msmes-homegrown-brands-exceed-rm1mil-threshold-single-day-lazadas-1111