Daraz has continued to its record 100 percent year-on-year growth and to reach over US$ 1 billion sales on its platform this financial year.
In 2021, the company reached over 40 million users on its platform across its five markets, and over 100,000 active SME sellers.
This was driven mainly by factors like increased digitisation, improvements in technology and infrastructure, and consumers expecting more convenience and accessibility, said a press release.
The pandemic, however, has triggered a dramatic boom in e-commerce. In South Asia, where e-commerce is behind regions like Southeast Asia, the pandemic has accelerated its adoption. Digital maturity in South Asia sped up, with more consumers – regardless of age – shifting to shopping online due to lockdowns, and businesses having to think outside of the box to find new sales channels and ways to keep customers engaged.
This growth is expected to accelerate even further, especially with internet penetration in the region growing, more SMEs now looking to integrate e-commerce into their businesses, and governments in the region shifting their perceptions of the economic value of e-commerce.
COVID-19 has provided the ultimate test in which governments across South Asia now recognize the role of e-commerce in keeping regional economies moving through the crisis. As a key player in the industry, Daraz has showcased how its platform can support business continuity, ensure essential goods and services can continue to be delivered, and improve economic resilience of the markets it has a presence in.
Aligned with its belief that South Asia’s digital economy is now at an inflection point, Daraz is committed to working together with governments throughout the region to fuel the growth of e-commerce and digitalization across its five markets. The goal is to increase the number of active e-commerce and digitally educated SMEs on Daraz’s platform and ultimately create more jobs through its marketplace model.
By encouraging an entrepreneurial spirit across South Asia, Daraz believes this will in turn mean that it can provide its customers with access to a wider range of products and services.
The last few years have seen Daraz accelerate its growth momentum across the region. Today, the company has unrivalled market leadership and multiple parts of its ecosystem – e-commerce marketplace, digitalized logistics network, financial payments, and financial services – are set up for further growth in a region with significant potential.
To kickstart the year, Daraz will be undergoing a complete brand refresh. While the look and feel of the brand is now evolving to be more modern, contemporary and relatable, Daraz is now set to establish an emotional and experiential relationship with its customers as well as sellers.
The brand’s focus will move to a more exploratory and personalized experience, where the focus is not on just selling products, rather experiences. While it brings the joy of shopping to people across the nation through the wide variety of assortment on its platform, it will continuously innovate and create new avenues of entertainment and engagement for its sellers and customers alike. This keeps to the company’s ambition of making e-commerce a key part of people’s everyday lives, and not just when they need to purchase something.
More than just a cosmetic change, the brand refresh signifies the evolution of Daraz as it gears up to achieve its vision of reaching 100 million customers and businesses by 2030 and to herald in a new era of e-commerce for South Asia.
Providing experience through the products people are buying. Fulfilling aspirations thorough a wide variety assortment and create.