Lazada, the would-be Amazon.com of Southeast Asia, will relocate from Singapore to Bangkok due to rapid growth this past year
In its announcement last week, company spokesman Kulthirat Pakawatchkrailert said the German-founded startup expects THB1.5 billion net sales this year, five times more than it earned last year.
“The retail business in Thailand costs over THB100 billion, and e-commerce has a huge potential to grow 4 to 5 percent within five years,” Kulthirat says. “More people have access to the internet due to the expansion of 3G and digital television.”
To confirm Kulthirat’s statement, Lazada Thailand’s best-seller product category this year is IT gadgets, with electronics and home decorations falling to second and third place respectively.
Meanwhile, the main customers in Thailand are 23-29 years old, and 65 percent of all customers reside outside of Bangkok.
Lazada was launched by German incubator Rocket Internet in Thailand in March 2012. It sells electronics, household items, fashion, health products, toys and sports equipment, Prachachart reported.
