E-commerce platform Lazada has awarded the first marketing prizes to its affiliates to recognise and honour their outstanding achievements at a ceremony in HCM City last week.

The 2023 LazAffiliates Award was given in 12 categories for creative content, breakthrough technology, favorite KOL, the most influential KOL, God of sales, beauty cosmetics review report, technology review expert, fashion expert reviewer, house and life expert reviewer, breakthrough KOK, breakthrough enterprise, and breakthrough community.

Affiliate Marketing is now a multi-billion dollar industry, with global spending on it estimated at US$13 billion last year and to increase to $15.7 billion next year.

Since 2018 Lazada has been a pioneering e-commerce platform in deploying affiliate marketing and investing in this model.

The Lazada affiliates network has attracted hundreds of thousands of partners who are KOLs, KOCs, community channel founders, and affiliate marketing partners.

It significantly contributes to brands and sellers’ revenue growth. In 2022 more than 120 million products were sold through affiliate marketing channels.

Lazada said it would continue to invest and maintain a profitable and valuable business environment for its affiliates through three commitments: use artificial intelligence and big data to analyse, and routinely predict and update the latest consumer trends; actively co-ordinate with brand partners and sellers to expand and diversify the source of products sold on the platform; and upgrade and expand the technology - payment - logistics infrastructure to enhance the digital shopping experience for consumers. — VNS