Alibaba’s Lazada posts first monthly profit amid intense competition in Southeast Asia
That milestone was reached through various measures to improve efficiency, including artificial intelligence-enabled operations, online marketing, user incentives and optimised logistics services, according to a person familiar with the matter.
The person, who declined to be identified for having no authority to speak about the internal meeting, said Lazada plans other initiatives that would help ensure long-term success.
Lazada’s Ebitda-positive performance last month showed how Alibaba’s patient development strategy and capital injection, as well the Singapore-based company’s restructuring efforts and business strategy, are starting to pay off.
“This is a morale boost for Lazada team members, as well as its ecosystem,” Jianggan Li, chief executive of Singapore-based consultancy Momentum Works, said in an online commentary on Tuesday.
Lazada, however, continues to face stiff competition in Southeast Asia.
Lazada aims to achieve an annual GMV of US$100 billion by 2030 when its total customers reach 300 million, the company said last September. It operates in Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
Source link