An overdose of Lazada’s secret to progress

idea-plan-action

Lazada Philippines is more than just an online shopping website now after being praised by the Golden Globe Annual Awards for being “The Best Online Shopping Mall for 2013” in the Philippines. Lazada was the second online shopping site Rocket Internet launched in the Philippines following Zalora that was launched in late 2011. Office Fab came along around the same time Lazada did in early 2012. It created employment for many Filipinos making their resumes spike up in the experience department.

Rocket Internet is internationally known for creating successful online business ventures in over 40 countries worldwide controlled by 25 different international offices. Its launch in the Philippines showed great effect on the local e-commerce industry. But just like any type of business, funding was important. Lazada got just that with the help of J.P. Morgan Asset Management, a division of JPMorgan Chase. J.P. Morgan Asset Management shelled out over $50 million worth of funds. Holtzbrink Ventures, a venture capital form known for financing over 100 countries also invested to Lazada just a few days after J.P. Morgan went public and released a statement to the press. Kinnevic, a Swedish investment firm along with US’ Summit Partners, Belgium’s Verlinvestt and Germany’s Tengelmann showed interest months after the controversial tie up of J.P. Morgan with Lazada in September, 2012. These funds were to be used to help Lazada continuously operate in Southeast Asia specifically in countries like Indonesia, Vietnam, Malaysia, Thailand and the Philippines.

Bearing this long list of good news in mind, Filipinos can expect better performances from Lazada in the following years to come. It currently holds more than 30 features in Lazada High Street that categorize the products being sold into groups. College Checklist, Nautical Fashion, Sound Advice and Shoot like a Pro are just few of the titles of the inspirational categories featured in Lazada High Street. This gives buyers a look at good finds defined by either quality or price range. A very practical feature given the number of items a person would have to browse in an online store to find something that matches their personality. Promos and discounts are increasing in number each month giving Filipinos something to look forward to with their every visit.

The Philippines is a great location to jumpstart a business venture not only because it has very few well-recognized online shops but because of the people in it living in curiosity. Filipinos are always open to learning new things and exploring online shopping definitely sparks a passion fire within all of us. Though in facts, Lazada Philippines has only been up and running for 1 year, one fact remains. It is that in a span of one year, it was able to gain the respect of many online critics and avid online shoppers. Lazada’s localized interface with a good balance between familiar and unfamiliar brands made it user-friendly and very relatable. Gone are the days we had to adjust to Amazon’s currency rate. Now, we can buy what we want at rates most common to us.

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