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The Absolute Beginner's Guide to Lazada in 2023

Are you looking to tap into the e-commerce market in Singapore by selling on Lazada, the largest online shopping and selling destination in the country? Look no further! In this comprehensive guide, we'll go over everything you need to know to get started and start making sales on Lazada.

Step 1: Create your Lazada seller account

The first step to selling on Lazada is to sign up to be a seller on the platform. You can do this by visiting the Lazada seller center. Once on the page you'll immediately notice that you have three options: Lazmall Seller, Local Seller, and LazGlobal Seller. It's important to read through the different types of accounts and choose one that matches your type of business as closely as possible.

Before you sign up, it's a good idea to familiarize yourself with Lazada's seller policies and terms of service. These will outline the rules and guidelines you need to follow as a seller on the platform, including the types of products you can sell, how to handle returns and refunds, and how to resolve disputes. By understanding these policies upfront, you can ensure that you are in compliance and avoid any issues down the line.

List your products

Now it's time to start adding your products to the Lazada platform. You'll need to provide detailed information about each product, including photos, descriptions, pricing, and shipping information. High-quality photos are particularly important, as they will be the first thing potential customers see when they come across your products. Make sure to include as much detail as possible in the product descriptions to help potential customers make informed decisions.

When listing your products, it's important to choose the right categories and subcategories to ensure that your products are easy to find by potential customers. You should also consider using keywords in your titles and descriptions to improve your search visibility.

In addition to the basic product information, you'll also need to specify your inventory levels and lead times. This will help customers know whether the product is in stock and how long it will take to receive their order. You should also consider offering different variations of your products, such as different sizes or colors, to give customers more options.

Set up payment and shipping options

In order to start making sales, you'll need to set up payment and shipping options for your products. Lazada offers a variety of payment options, including credit card, bank transfer, and cash on delivery. You'll also need to decide how you'll handle shipping and delivery of your products. Will you offer free shipping, or will you charge a fee? Will you use a third-party logistics provider, or will you handle shipping in-house? It's important to consider these factors when setting up your payment and shipping options to ensure a smooth and seamless shopping experience for your customers.

You should also consider offering different shipping options, such as standard and expedited shipping, to give customers more flexibility. It's a good idea to clearly communicate your shipping policies, such as delivery times and restrictions, to avoid misunderstandings or disappointment.

Promote your products

Once your products are listed on Lazada, it's important to promote them to potential customers. You can do this by utilizing Lazada's marketing tools, such as sponsored ads and promotional banners. These tools allow you to target specific demographics and interests, and can be an effective way to reach a wider audience. You can also use social media and other online channels to promote your products and drive traffic to your Lazada listings.

In addition to paid advertising, there are a number of other ways to promote your products on Lazada. One effective strategy is to offer discounts or promotions to incentivize customers to make a purchase. You can also participate in Lazada's sales and event campaigns, such as the annual 11.11 Shopping Festival, to take advantage of increased traffic and sales opportunities.

Monitor and optimize your listings

To maximize your sales on Lazada, it's important to continuously monitor and optimize your listings. This may involve adjusting your prices, updating product descriptions, or adding new products to your catalog. By staying up-to-date and responsive to customer needs, you'll be able to increase your sales and grow your business on the platform. You can also use Lazada's analytics and reporting tools to track your performance and identify areas for improvement.

It's essential to keep an eye on your competition and see what they are offering, as well as monitoring trends in the market. By staying on top of these factors, you can ensure that your products are competitive and attractive to customers. You should also be responsive to customer feedback and reviews, and make any necessary changes to improve the customer experience.

In conclusion, selling on Lazada can be a lucrative and rewarding opportunity for businesses of all sizes. By following the steps outlined in this guide, you can set up a successful seller account and start making sales on the platform.

Remember to take the time to set up your seller account and product listings carefully, as this will help you establish trust with potential customers and increase your chances of making sales. Utilize Lazada's marketing tools and utilize other online channels to promote your products and drive traffic to your listings. And don't forget to monitor and optimize your listings on an ongoing basis to ensure that you are meeting the needs of your customers and maximizing your sales potential.

With a little bit of effort and the right strategies in place, you can build a successful business on Lazada and tap into the growing e-commerce market in Singapore. Good luck!

Nicky Minh

CTO and co-founder

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PayPal allows you to have a smooth transaction process by letting you hook up your bank account directly to your PayPal and be an asset for most bank needs, local or international. It continues to innovate with valuable features for effortless business management.

You may be currently be using PayPal for many of your business transactions, but did you know you can also get a small business loan just for having an active business account as well?

How is a PayPal loan different from traditional bank loans?

PayPal loans and PayPal Working Capital have an ample range of $5,000 to $500,000 and have an easy application process compared to most traditional bank loans.

With bank loans, extensive documentation, including financial statements or legal documents, is typically necessary before you even get the process started. It can also take days or even weeks between submitting an application and receiving a notice of a reward.

PayPal, however, can take as little as 5 minutes to see if you’re eligible for the appropriate funding necessary for your business. Repayment works by deducting a 5% minimum percentage of each sale, paired with a fixed fee you’re made aware of before accepting the loan. This can be pretty comforting relative to how traditional loans work, as interest can be periodic and fluctuate more than once.

Other attractive benefits of PayPal loans are the lack of a credit check and additional application, annual, early, repayment, and late fees that can rack up your balance with a bank.

Am I eligible?

PayPal Working Capital eligibility requirements are pretty straightforward. Your must-haves are as follows:

  • Have a PayPal Business or Premier account for a minimum of 90 days
  • Have a proven track record of processing at least $20,000 in annual sales through your Premier account, or $15,000 in annual sales through your Business account
  • If you already have a PayPal loan, you must repay any remaining balance from the previous loan.

On the other hand, it’s important to note that PayPal does have a list of non-eligible industries for funding. You may not qualify for a loan if you are an attorney, a school, a civic organization, an independent artist, or a financial services provider, among others.

Check out the list here to see if you make the cut.

How do I apply?

Some basic information is required when it comes time to apply for your PayPal Working Capital loan. Depending on your business, you may need to provide contact information and birth dates, and social security numbers for your business owners and management. However, rest assured PayPal will not utilize this information for a credit check.

1. Once you have gathered this information, you have two options for filling out their simple eligibility questionnaire to determine if your business is currently in good standing.

You can:

Fill it out yourself online — it only takes 5 to 10 minutes.

Or, if you’re a tad anxious about errors, you can speak with a Business Funding Expert on the phone that will guide you through the process step by step.

2. Next, PayPal will ask you for a number based on what you need where you can specify your preferred amount, in addition to the duration of the loan

3. Once approved, you will sign an electronic contract with instructions on setting up weekly payments directly from your account.

4. When that’s all squared away, Paypal will deposit your loan into your PayPal Business account, at which point you have the option to either withdraw it and deposit it into your bank account or let it stay in your PayPal account instead.

How do I apply?

Some basic information is required when it comes time to apply for your PayPal Working Capital loan. Depending on your business, you may need to provide contact information and birth dates, and social security numbers for your business owners and management. However, rest assured PayPal will not utilize this information for a credit check.

1. Once you have gathered this information, you have two options for filling out their simple eligibility questionnaire to determine if your business is currently in good standing.

You can:

Fill it out yourself online — it only takes 5 to 10 minutes.

Or, if you’re a tad anxious about errors, you can speak with a Business Funding Expert on the phone that will guide you through the process step by step.

2. Next, PayPal will ask you for a number based on what you need where you can specify your preferred amount, in addition to the duration of the loan

3. Once approved, you will sign an electronic contract with instructions on setting up weekly payments directly from your account.

4. When that’s all squared away, Paypal will deposit your loan into your PayPal Business account, at which point you have the option to either withdraw it and deposit it into your bank account or let it stay in your PayPal account instead.

Are there any downsides?

As with any loan program, PayPal loans have their downsides as well. We talked about how having a PayPal Business or Premier account is an essential requirement of the loan and that not all industries are eligible, but there’s one other con.

Notably, it’s imperative to keep in mind that consistency in payments is crucial for maintaining good standing with your loan. Falling behind with your payments can cause PayPal to place specific limits on your account, which can no doubt be detrimental to the operations of your business.

Of course, if you feel confident with the steadiness of your revenue flow, then this may be no sweat!

Supplemental Loans

Loans can help many facets of managing a small business, but they don’t always cover every single part. Every business is undoubtedly unique, but overwhelming marketing expenses can be a constant for business owners across the board.

That’s where Jenfi comes in! Like PayPal, Jenfi also offers a simple and fully online application process to see if you’re eligible for marketing and inventory funding for your company. Jenfi loans are excellent supplemental loans that have your back regarding anything related to marketing your business for optimal growth.

Apply today, and discover all the ways Jenfi can help you expand your reach!

Nicky Minh

CTO and co-founder

How fast can your business grow with growth funding?

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