MANILA - Inflation is unlikely to dampen the cost-conscious Filipinos' love for discounts as more shoppers are expected to purchase items online during the biggest global sale event of the year this coming Nov. 11, the head of Lazada Philippines said Friday.
In an interview with ANC's Early Edition, Lazada Philippines CEO Ray Alimurung said they are expecting to double their 2017 11.11 sales this year.
Lazada promised up to 90 percent discount during the one day sale event called the "11.11 Shopping Festival."
"We tend to be a little bit contra [in contrast] to macro-trends in this regard because when inflation is high, people tend to be a lot more cost-conscious...In online where prices are a lot more transparent and with this 11.11 campaign coming up, we actually see more people buying online," Alimurung said.
Zalora, an e-commerce platform offering mainly branded clothing goods, also announced discounts of up to 90 percent during their 11.11. Single's Day Sale.
Meanwhile, Shopee tapped renowned singer Jose Mari Chan for its 11.11 Big Christmas Sale from Nov. 11 to Dec. 12, 2018. Shopee said consumers can avail of discounts up to 99 percent. [JOSE MARI CHAN ]
Known as Single's Day in China, billionaire and co-founder of Alibaba Jack Ma transformed the event into a global shopping festival in 2009, Forbes reported.