Chinese e-commerce giant Alibaba has set a target for gross merchandise volume of $100 billion in gross merchandise volume (GMV), the total sum of purchasing transactions, for its Southeast Asian marketplace Lazada.
Lazada generated $21 billion in GMV from September 2020 to the same month in 2021, according to a presentation. It also hopes to serve 300 million customers, roughly double its current count.
By comparison, Sea Ltd’s Shopee, the market leader in the region, generated $35.4 billion in GMV for the full calendar 2020 year, Reuters reported.
The division ranks itself the third-top player in Southeast Asia, behind MercadoLibre and Shopee, according to the presentation.