Alibaba now appears to be continuing to support Lazada, and has injected new funds totaling $845 million (~RM3.8 billion).
This injection of funds is expected to continue to help Lazada compete in the e-commerce arena, in addition to expanding its services. Also recently, Lazada has started integrating ChatGPT technology in helping users make purchases.
Today, in Malaysia alone, Lazada receives competition from several parties, including Shopee and TikTok Shop. According to data compiled based on previous purchases, Lazada holds around 19% of the market in Malaysia alone, compared to Shopee's 78%. The newly started TikTok Shop already has a stake of around 3% in the e-commerce arena in Malaysia.
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BUSINESS & MONEY