Merchants have been seeing massive sales during Lazada’s 11.11 Biggest One-Day Sale compared to a normal day.
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The latest 11.11 sale has been fruitful for local micro-small-and-medium-sized enterprises (MSMEs) who saw their sales skyrocket during the sales period, according to Lazada.
They said that more than 25 times as much sales were generated by their “11.11 Biggest One-Day Sale” for top Malaysian homegrown brands compared to a typical day – with the top MSMEs listed on the site exceeding the one-million-ringgit threshold.
There are also signs of economic recovery
There are also signs of economic recovery, with nearly 1 in every 2 newly onboarded businesses securing their first online customer within less than 7 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 digitalization 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.Lazada Malaysia Chief Operating Officer Darren Rajaratnam
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 a 24x 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, which Lazada says demonstrates a burgeoning trend of midnight bargain hunters with high purchase intent.
This upward trend, they noted, served as a springboard for local businesses to gain new customers and accelerate their digital growth.
Even though our store only went live on Lazada just two months ago, we are immensely thrilled to have our sales reach over one million ringgit in less than 24 hours on 11 November. Not only that, our store followers rapidly increased by more than 26% after the Lazada 11.11 Sale. We are grateful to Malaysians for supporting local MSMEs on Lazada during these uncertain times and we are also thankful to Lazada for providing the tools, training, and support for local entrepreneurs to grow our business seemingly overnight.The Hopz owner Johnson
Dubbed the year’s most anticipated shopping event, 11.11 is widely regarded as the mother of all online sales.
It was first introduced by Lazada to Southeast Asia in 2013, and 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.
Unkempt in both stories and appearance, Hakim loves tech but tech left him on read, previously he used to write about tall buildings and unoccupied spaces that he can't afford, and legend has it that he still can't afford it to this day