Lazada Doubles Down on 'Shoppertainment', Streams Dua Lipa Concert to Celebrate its 7th Birthday across the Region
To celebrate its seventh birthday, Lazada is live-streaming a music concert directly on their app as the ecommerce giant’s attempt to blend shopping and entertainment on its platform. Lazada believes that this move will usher a new era of ‘Shoppertainment’ meaning that users can watch live streams and shop simultaneously.
The celebration will be headlined by British pop star Dua Lipa and the region’s artists. It will take place in Jakarta, Indonesia, on March 26. Consumers from all six markets can be a part of the party through Lazada app.
According to the analysts who cover SingPost stock, Singapore Post is likely to shut down or sell its US ecommerce business. By getting rid of the unit, it will be beneficial to the company’s long-term profitability goal.
Last month, SingPost said that it had seen an impairment risk to the book value of its US ecommerce unit. The company is now conducting a review of the business which is expected to remain loss-making in the current financial year. Whether it is keeping the business or not, analysts say it is unlikely to have an “impact on the bread-and-butter” mail and package business.
Ex-RedMart CFO Jim Boland Joins Pomelo to Drive Profitability and Enable Rapid Growth across Southeast Asia
Thailand-based fashion ecommerce firm Pomelo appoints Jim Boland as its new Chief Financial Officer (CFO). Previously, Boland was the former CFO of online grocery platform RedMart which recently merged with Lazada. He has over 19 years of experience in ecommerce businesses, through leadership roles at Amazon and Dell.
With his appointment, Boland will be responsible for building up Pomelo’s financial infrastructure to drive profitability while enabling rapid growth across the region.
The country’s Department of Statistics unveils an increase of 7.6% YoY in retail sales. Out of the surge, ecommerce contributes 4.8%. The growth was lifted by the burgeoning growth from the vehicle sales at 20%. Meanwhile, the largest year-on-year growth is seen within the restaurant sector at 10.8%.
How much did other categories contribute to such growth?
- Apparel footwear (10.5%)
- Medical goods and toiletries (9.3%)
- Department stores (8.9%)
- Supermarkets and hypermarkets (8.8%)
- Food retailers (8%)
- Watches and jewelry (5.2%)
- Minimarts and convenience stores (2.1%)
- Furniture and household equipment (0.9%)
- Recreational goods (0.9%)
- Petrol service stations (0.1%)
The announcement reveals that Jack Ma has quit from Alibaba Software, Taobao Software, Alibaba Network Technology, Alibaba Education Technology, and Alibaba Technology. This comes as the founder of Alibaba Group prepares to retire in September.
According to a source, the move is a normal practice for technical and legal considerations, to help improve company governance and transparency. In addition, the company spokesperson denied the rumor about Ma transferring Taobao shares and then quit the company.