Lazada reached a new milestone
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- 18:56 15/08/2024
DNHN - Lazada is currently headquartered in Singapore and operates in 6 Southeast Asian countries, aiming to reach 300 million customers by 2030.
According to Morning Star, for the first time in history, Lazada's monthly EBITDA (earnings before interest, taxes, depreciation, and amortization) has turned positive in July. In a recent internal meeting, Lazada Group CEO, James Dong, emphasized that this is a significant turning point, affirming the effectiveness of Lazada's current business strategy. Achieving positive EBITDA not only confirms the company's approach is effective but also provides further motivation for Lazada to continue investing in the Southeast Asian market, aiming for a sustainable and long-term growth path.
Lazada achieved positive EBITDA by upgrading its platform and optimizing its operational processes. Although Alibaba Holding, Lazada's parent company, has not disclosed specific details about this figure, they have confirmed that Lazada's loss per order has significantly decreased due to increased revenue and reduced logistics costs.
Meanwhile, according to SCMP, this milestone is the result of various measures to improve efficiency, including the application of artificial intelligence (AI), online marketing activities, user incentives, and optimized logistics services. Lazada is reportedly planning to implement other initiatives to ensure long-term success.
In Q1 2024, Alibaba Holding's e-commerce segment, which includes Lazada, AliExpress, Trendyol, Alibaba, and Daraz, achieved revenue of 27.45 billion yuan (approximately $3.8 billion), up 45% from the same period last year. Alibaba Group itself saw a 7% increase in revenue. As China's market growth slows, Alibaba has focused on investing heavily in the Southeast Asian market, where Lazada is actively operating.
Lazada is currently headquartered in Singapore and operates in 6 Southeast Asian countries, aiming to reach 300 million customers by 2030. Since its inception in 2012, Lazada has faced intense competition from rivals like Sea, Amazon, and TikTok Shop. Alibaba acquired a stake in Lazada in 2016 and has continuously adjusted its strategy to replicate its domestic success in international markets.
Their biggest competitor in Southeast Asia is Shopee, a platform operated by Sea Limited, a Singapore-based company listed in the US. Shopee remains the leading e-commerce platform in the region with a 48% market share, according to a report by Momentum Works in July.
The report also noted that TikTok Shop, owned by ByteDance, nearly quadrupled its annual GMV to $16.3 billion in 2023, surpassing Lazada to become the second-largest e-commerce platform in the region after acquiring control of Indonesia's Tokopedia in December last year.
Tu Anh
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