Southeast Asian online sellers continue to adopt a confident outlook on business growth, with 77% of online sellers expecting more than a 10% increase in their sales for the 2nd quarter of 2022, as revealed in Lazada’s latest Digital Commerce Confidence Index (DCCI). The report also found that sellers’ confidence remained high and more optimistic following the first quarter of 2022 amid business challenges and economic uncertainties, and now that the economy across the region gradually opened up and eased restrictions on mobility and business activities, three out of four sellers are sharing their view that it will be better in this next quarter.
“With the fourth instalment of Lazada’s Digital Commerce Confidence Index, we see that sellers’ confidence continues to pick up as economies bounce back. According to Lazada Consumer Study, 73% of Southeast Asian consumers identified online shopping as integral to everyday life. Online sellers who can better understand digital shoppers’ preferences and category trends will be well positioned to stay competitive and win in the digital commerce industry,” said Magnus Ekbom, Chief Strategy Officer of Lazada Group.
Signifying confidence in their business growth and supporting this anticipated growth in online sales, 74% of sellers said they would increase their inventory by at least 10%, and 47% said they would increase staffing.
This study was conducted in the first quarter of 2022 and participated with 766 online sellers across Southeast Asia. In the report, fashion, health and beauty are among the top categories of online purchases, and in the same study, it was also found that customers look for affordable shipping, low prices, ease of search and convenience when shopping online.
Digital Commerce Confidence Index is the first study that seeks to map out the trends in digital commerce by indexing the sentiments and confidence levels of Southeast Asian online sellers. It measures business confidence based on surveys benchmarking the opinions of online sellers in Southeast Asia (Indonesia, Philippines, Thailand, Vietnam, Malaysia and Singapore).
Lazada.com. (2021). Press Release. [online] Available at: https://group.lazada.com/en/press-release/.
Overwhelming Majority of Southeast Asia Consumers Now Shop Online, With Over 67% of Shoppers Now Anticipating and Participating in Mega Campaigns: Lazada Consumer Study. (n.d.). [online] Available at: https://lazada-com.oss-ap-southeast-1.aliyuncs.com/160-press-release.pdf [Accessed 25 May 2022].
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