Zalora Spotlights a Digitally-Connected Region and a Rise in Circular Fashion As Bright Spots in a Muted Economy
- Resilient categories on ZALORA show year-on-year growth amid global uncertainties, a return to in-store shopping and international travel
- Buy Now Pay Later (BNPL) will power e-commerce transactions in the coming years
- Sustainable fashion and resale market will continue to grow, led by Millennials and Gen Zs
ZALORA, part of Global Fashion Group (GFG) and Southeast Asia’s leading fashion, luxury, beauty and lifestyle e-commerce player, released its latest Southeast Asia Trender 2022 Report, which forecasts that Southeast Asia’s e-commerce sector remains optimistic even amid economic uncertainties and an increasingly dimming global economy.
The last few years saw the e-commerce landscape evolve dramatically, forcing brands and businesses to recalibrate. Even though the path to recovery in 2023 will be disrupted by an impending recession, revived consumer interests, cashless payment options rapidly gaining momentum, and a newly-connected Southeast Asian retail landscape that saw more than 100 million new shoppers come online since the start of the pandemic, will help to propel the e-commerce sector forward.
Against this backdrop, ZALORA’s Southeast Asia Trender Report 2022 publishes these findings and insights to help brands and businesses find their footing in current realities while spotlighting opportunities in the near horizon.
The report is based on a comprehensive analysis powered by ZALORA’s retail intelligence and data analytics solution, Data by GFG, to forecast consumer megatrends and purchasing patterns that will inform and shape retail strategies for 2023. It also includes intel from close to 60 million monthly visits, complemented by insights driven by Google and other partners.
“The nascent Southeast Asian e-commerce landscape is undergoing a significant digital transformation. Even as we brace for the potentially volatile climate ahead, it has become increasingly important for brands and retailers to connect with consumers in the right way,” said Gunjan Soni, Chief Executive Officer, ZALORA Group.
“Our flagship state-of-the-industry report helps to guide the industry through this unpredictable time and aid in their retail strategies as they navigate through the region’s diversity and build on the momentum.”
Southeast Asia: A nascent yet buoyant e-commerce sector
Having emerged from the pandemic, consumers are returning to in-store shopping and travelling internationally. Despite these changes, and consumers cutting back on discretionary spending in the face of rising inflation, Southeast Asia’s e-commerce scene is still a bright spot from ZALORA’s standpoint. ZALORA saw continued year-on-year growth in resilient categories against a backdrop of a slowing economy.