In the changing landscape of the retail industry, consumer demands constantly evolve according to the trends and there will always be a need for innovation. A customer-centric approach is key to success in the retail business as it is necessary to know what people need and look for. This understanding will improve decision-making and help you in inventory management. Providing good customer experiences is the core value to excel in retail business and customer retention. In this article, we embark on a journey of Lazada’s excellence in the retail industry, it also covers the strategic entrepreneurial journey of Maximilian Bittner the co-founder and former CEO of Lazada.
Maximilian Bittner: Co-founder of Lazada
Maximilian Bittner is the co-founder of Lazada in the year 2012, which is Southeast Asia’s leading e-commerce platform. Bittner is a BSc graduate in history and economics from UCL and completed his Master of Business Administration (MBA) from Kellogg School of Management, Northwestern University,
Initially, Bittner worked as an investment banking analyst at Morgan Stanley. Before finding Lazada, he worked as an Engagement Manager at McKinsey for around 4 years. If not for Bittner’s father having connections with Oliver Samer – the founder of Rocket Internet he would have remained working at McKinsey and wouldn’t have broadened his capabilities leading him to start Lazada. This kickstarted his career when he successfully held the responsibilities as a CEO which now sees Lazada as a regional flagship firm of the Alibaba Group.
About Lazada Company
Lazada is the Southeast Asia’s Leading e-commerce platform. It was founded by Maximilian Bittner and Magnus Ekbom in the year 2012 and its headquarters is located in Singapore. Lazada aims to provide a safer, better, and seamless shopping experience to customers in Southeast Asia by making continuous evolution in technology, logistics, and payments.
Lazada is the marketplace for retailers to reach millions of new customers, In 2013 Lazada Marketplace was launched which provides services for retailers from secure payment options to customer care support. It also helps retailers in wide distribution networks and market analytics which helps in more sales and profit. Ratires can sell products in different categories including health, beauty, fashion, decor, mobile devices, home appliances, and many more. Later in 2018, it launched Lazmall which is Southeast Asia’s biggest virtual mall connecting shoppers to over 32,000 leading international and local brands. It ensured customers 100% product authenticity and fast delivery along with an easy 15-day return policy. It is a platform for brands and sellers to directly connect with their customers and provide customized experiences.
Lazada’s mission in bridging the gap between Southeast Asia and international customers brought a cross-border business model. Here it would feature home brands and other brands from Hong Kong, SAR, Korea, China, Japan, Europe, and the United States. Through this Lazada along with Alibaba’s technology infrastructure and logistics provides a platform for consumers to purchase various international brand products.
The core pillars of Lazada are logistics, technology, and payments. Lazada has fulfillment centers around 17 Southeast Asian cities along with warehouse and sorting centers which makes the supply chain faster and efficient. Digital technology is effective in handling partner networks and cross-border shipments and, hence has complete control over logistics. Smart technology along with continuous updation will provide a better retail experience. The analysis of real-time data helps in quick adaption according to demand and conditions. Project Voyager is a technology stack done with Alibaba that provides more scalability and technology solutions to Lazada. The payments done through Lazada are secure and seamless for providing better financial services. The suits of options help in solving existing issues with payments and hence customers can trust digital payments.
Lazada with its different business models has been providing great service to retailers and customers effectively. It is present in over 6 countries including Malaysia, Indonesia, the Philippines, Thailand, Singapore, and Vietnam, and connects brands and customers through technology, logistics, and payments. It aims to serve 300 million customers by 2030 with its selections of brands and sellers.