Daraz aims to be South Asia’s ‘Digital Silk Road’ by 2025, announces 11:11 sale 2023

Daraz Sri Lanka CCO Oshan Ranathunga (left) gestures during the briefing to the media last week. Marketing and Traffic Operations Head Firaz Markar (centre) and Corporate Affairs and Public Policy Head Anishka De Zylva are also present – Pic by Lasantha Kumara

By Divya Thotawatte 

Daraz last week announced the return of the annual 11.11 sale with discounts up to 80%, while also outlined plans to expand further in the ecommerce sector to be the ‘Digital Silk Road’ of South Asia. 

The mega sale is to begin from 11 November and last a week till 17 November where customers could engage in games to win grand prizes and experience bank offers and mega deals with up to Rs. 12,000 savings. There will also be early bird deals for customers who shop from 1 to 10 November. 

The campaign’s standout features lowest prices with up to 85% off, Daraz Any 3 for Rs. 1,399, free delivery and partnerships with more than 500 leading brands which will be complemented with super flash sales and bundled offers to generate further value to shoppers. 

Daraz will also enhance the shopping experience by bringing back popular ‘shoppertainment’ features such as the One Rupee Game, giving shoppers the opportunity to purchase an iPhone 15 for 1 Daraz Point which is equivalent to Rs. 1 in value, and the Daraz Candy game which will give shoppers a chance to win Daraz Gems that can be redeemed for further savings and value during the sale.

Key online influencers will also host a mega live show at midnight on 11.11 to introduce consumers to the greatest deals and showcase product favourites across fashion, beauty, electronics, and more.

Daraz Sri Lanka CCO Oshan Ranatunga said that there was much potential that lied in the South Asian ecommerce market and that the Daraz 11.11 Sale would contribute to the expansion of ecommerce in the region. Moreover, it would create much engagement and confidence in the sellers and partners to build a digital economy in Sri Lanka. 

He said that over the years, the sale had significantly contributed to the growth and uplifted many sellers on the Daraz ecommerce platform, with 1.5× increase of website visitors, 3 1/2× increase in products sold and 4× increase in revenue. 

“The 11.11 sale ensures that our partners’ products reach the right audience at the right time. It is a transformative seller experience that is set to elevate businesses to new heights, while setting the stage for sustained growth and success in the digital marketplace.” Ranatunga also explained that the sale was intended to further grow the ecommerce sector in Sri Lanka by facilitating consumers to be savvier at the usage of digital commerce. 

Speaking about ecommerce in the region, Daraz SL Traffic Operations Head Firaz Markar said that South Asia (excluding India) remained a region of large growth potential with access to a market of 500 million people and a 5.6% GDP growth in the economies of its countries collectively in 2023.

“Our goal is to become ‘the Digital Silk Road’ in South Asia by 2025. It is possible because right now, we are across countries like Pakistan, Bangladesh, Nepal, and Myanmar and in all these markets we are the number one ecommerce player.”

He said that to achieve this goal, Daraz was looking at greater supply integration, to leverage the Daraz infrastructure to support e-exports. Therefore, Daraz would support Sri Lankan businesses to also be export channels to other markets that the Daraz global infrastructure has access to. “We want to support and drive the Sri Lankan SME sector. We want to look at supporting the Sri Lankan corporate sector to drive into these other South Asian markets. So we are also focusing on providing more credit solutions to support SMEs at a local level.” 

Live streaming is one solution that Daraz has adopted to bridge the gap between online and offline through a content driven shopping channel that has increased engagement within the platform greatly in 2023. ‘Daraz Candy’, the in-app game, was also launched to create a fun shopping experience, driving user retention and engagement. Hence, the reason these solutions are used in the 11.11 mega sale is to further boost the engagement and sales within the platform.