Lazada SG taps on SG$50m fund for cashback initiative

Lazada Singapore has launched a rebate scheme handing Singapore shoppers 9% cashback on eligible purchases for the rest of the year. The rebate scheme taps on a SG$50 million pool to support Singapore shoppers, via cashback and other platform mechanisms.  With the Everyday Cashback plan, Lazada shoppers will be able to receive up to SG$20 worth of cashback credits per order, for over 600,000 eligible items across various categories, including home and lifestyle, electronics, and health and beauty. These credits that can then be used to claim Lazada vouchers and offset future purchases. 

According to Lazada, the roll out of Lazada’s Everyday Cashback aims to provide relief for those experiencing rising inflation and a global increase in food prices. Loh Wee Lee, CEO of Lazada Singapore, said that the company understands the concerns that consumers may have over the global increase in prices and rising inflation, impacting everyone’s budget and spending ability. "As eCommerce becomes the norm for consumer spending, we recognise our responsibility in helping to cushion price hikes, and help households lower their expenses. We developed Lazada’s Everyday Cashback offer as a sensible solution for Lazada shoppers where they can accrue rewards to offset purchases, saving more in the long run," he added.

This rebate scheme comes in addition to Lazada's existing LazCoins programme that gives shoppers the flexibility of using coins to redeem vouchers or free gifts on the platform.

Recently, Lazada was ranked as one of the top 10 most talked-about brands among Singaporeans, according to YouGov's Buzz Rankings 2021. the eCommerce platform also tied in fifth place with Sheng Siong as the most improved brands of the past year. 

Last year, the APAC region alone accounted for 63% of total eCommerce sales worldwide, according to a study by Rakuten Advertising. Over half (64%) of APAC consumers discover new brands through online search, followed by paid social, and recommendations from friends and family. Additionally, according to MAGNA's global advertising forecast, digital advertiser revenues in APAC grew by 23% in 2021, and will grow by 16% in 2022, representing two thirds of total advertiser budgets. As the pandemic continues to impact consumer lifestyle options and choices across many markets, it comes as no surprise that accelerated digital ad revenues continue to take share. 

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