Lazada has refreshed its brand look for its virtual mall, LazMall. The new LazMall 2.0 spots a slightly different logo, accentuating its signature red and black hues. The new logo (pictured right) has a darker red hue compared to the old one (pictured left), while the word "LazMall" sees a more bolded version. The brand refresh was done in-house by the Lazada team.
According to a press release, LazMall 2.0 looks to increase visibility, traffic, and quality leads for brands on its platform, that will map the right target audience to brands. LazMall will also allow brands to have access to marketing solutions and data insights will further help drive traffic and brand growth. Additionally, brands will be able to leverage Lazada’s logistics infrastructure and fulfilment capabilities to improve their overall customer journey on LazMall. Brands on the platform can also integrate their loyalty programme into LazMall's platform and leverage Lazada’s technology infrastructure for search, recommendations and LazLive livestreaming.
Launched in line with its second anniversary celebration, LazMall will also include new features such as "Beat the Price", which provides market-beating prices for its products; "Brands for You", a customised set of recommended brands for consumers based on their user interest and interactions; "Brand Directory", a list of brands on the platforms that consumers can navigate; and "Follow Button", which aims to increase engagement with consumers and improve adhesion for consumers to subscribe to and get access to the latest updates on deals and offers. LazMall will also be rolling out other on-site enhancement for its chatbot, search experience, store atmosphere, and product detail page.
In a statement to Marketing, Jessica Liu, co-president and regional head of commercial, Lazada Group, said the brand envisions LazMall to have covered 80% of offline brands within six months. Liu added that a mid-term goal is for LazMall to contribute 40% to 50% of Lazada's total gross merchandise value. It also aims to improve Lazada's overall net promoter score significantly.
Additionally, Liu said LazMall plays a key role in Lazada’s overall business strategy as local and international brands look to advance their presence and growth through an omnichannel approach in Southeast Asia. She added that by strengthening the consumer online commerce journey on LazMall, Lazada provides brands with more avenues to diversify and increase their consumer touchpoints.
According to Liu, "more than 80% of Forbes’ Most Valuable Consumer Brands are on LazMall". Some of the brands that have joined Lazada’s B2C virtual mall include 30 tenants from Singapore’s Marina Square and 40 tenants from Thailand’s Siam Center. Brands that have onboarded in the last six months include Coach, Himalaya, Miniso, Kiehl’s, Starbucks and Under Armour as well.
Since its inception in 2018, LazMall is said to have grown more than nine-fold, including department stores and shopping malls. According to the eCommerce platform, the total number of brands who have come on LazMall more than doubled year-on-year in Q2 of 2020, and the LazMall quarterly orders saw more than three-times increase year-on-year. In its upcoming Lazada’s 9.9 shopping festival, it will be providing consumers with shoppertainment initiatives such as in-app livestream shows. Lazada will also be engaging its consumers through LazGames, where consumers can redeem rewards with coins accumulated through the game.
Most recently, Lazada tied up with Mediacorp for a content-commerce partnership. The collaboration culminated in a National Day Mega Sale that was held in August. Under this partnership, Lazada’s sellers were offered Mediacorp’s assets including television and radio spots, as part of marketing packages to amplify their engagement with consumers and drive sales. The Lazada-Mediacorp deal served as an online service for sellers looking to create customisable content and campaign assets. The partnership has since been renewed, and Lazada and Mediacorp will be extending its collaboration for Lazada's upcoming 9.9 sale.