More than half of the online shoppers in Southeast Asia are now searching for products directly on e-commerce marketplaces, new research by Lazada has revealed at the recent LazMall Brands Future Forum 2022 held at Resorts World Sentosa in Singapore.
The event featured presentations from Lazada executives, a panel discussion with representatives of top brands on LazMall as well as interactive booths showcasing some of the company’s experiential shopping technology.
E-commerce user penetration in Southeast Asia is expected to reach 413 million users by 2025, with 57% of shoppers searching for products directly on e-commerce marketplaces, Lazada said.
This shift from standard search engines highlights the importance of e-commerce marketing solutions and business digitization to maintain resilience and relevance amid rising global interest rates and inflationary pressures, say Lazada executives.
“Brands now have the opportunity to build mind share and connect with consumers using the tools from Lazada, to accelerate their growth in the e-commerce space and engage the right audience.”
Lazada remains confident, with 8 out of 10 consumers continuing to shop online for ease and convenience, despite lower average spending per user compared to the past two years, said James Chang, Lazada Group’s chief business officer.
Lazada’s surveys found that customer “stickiness” and retention were driven by wider product assortment, competitive pricing, increased convenience, varied options, and a highly personalized shopping experience.
The report showed that 94% of shoppers use Lazada’s search function to discover products, and 94% actually purchase the products they found through search.
Additionally, 71% of shoppers purchased products as a result of Lazada’s tailored-to-users Recommendations feature.