Consumers across Southeast Asia are set to see more of one of Australia’s fastest growing health and wellness brands on their online shopping retail shelves. EZZ Life Science is fast-tracking its presence into the region to meet the needs of 70 million people who signed up to ecommerce shopping platforms during the pandemic over the last two years.
According to EZZ Life Science chair Glenn Cross, ecommerce has continued to grow in Southeast Asia thanks to COVID. The region experienced a significant uptake in online shopping over the past two years with some 70 million people signing up to a number of ecommerce shopping platforms.
EZZ Life Science Holdings is a highly respected Australian life sciences company listed on the ASX (EZZ) with a prime focus on genomic research and development. It produces a range of health and wellbeing products including functional foods, supplements and hair care products. EZZ Life Science’s brands are sold nationally as well as in China, Singapore, New Zealand and Southeast Asia.
“This is clearly a region of priority for us and one which understands the benefits of shopping online as well as science backed products that support health and wellness,” Cross said.
“In addition to the high number of consumers that have now ventured into the world of ecommerce, the number of categories purchased by consumers has also grown as shoppers become more comfortable and familiar with the digital ecosystem.
“Interestingly, major western online retailers such as Amazon have failed to penetrate the market in Southeast Asia. Instead, local marketplaces such as Shopee, Lazada and Tokopedia make up the bulk of online sales in the region, with total ecommerce sales forecasted to reach $89.67 billion this year, a 20.6 percent increase on the previous year, the highest in the world.
“With so many people online, social commerce has also helped to drive this growth with an increase in the number of influencers and key opinion leaders engaging in livestream shopping segments armed with limited time only discounts and coupon codes. They are able to achieve high levels of engagement and interactivity which convert into sales.
“Health and wellness products such as functional foods and supplements are experiencing strong growth thanks to shoppers becoming more concerned and attuned to their own health needs under the shadow of COVID. We expect to see this trend continuing over the next few years.”
Cross states that EZZ Life Science has targeted Southeast Asian ecommerce platforms for its entry into the region.
“We anticipate, based on projected growth and site sales volume that we should achieve significant sales gains and traction across the Southeast Asian market,” Cross added.
Carefully selected a key range of products for our initial entry into the market and these include functional food products, supplements and products that target specific health issues such as Helicobacter pylori infection. The prevalence of this infection in Asia is high, at 54.7 percent.
“We are implementing an intensive sales and marketing strategy targeting consumers in the Southeast Asia region in order to grow brand awareness and facilitate sales by establishing distributors on both Shopee and Lazada.
“The move is part of our strategic plan to significantly increase our market share both nationally and overseas and accelerate the growth of our science-based range of health and wellness products including functional foods.
“The life sciences industry is one of the world’s fastest growing sectors. In Australia, health and life sciences is the country’s eighth largest export sector, worth A$8.5 billion. Globally, the life sciences industry has been on the rise, growing more rapidly over the past decade even before the pandemic hit. In fact, the sector’s growth trajectory only accelerated during 2020 and into early 2021, with demand for products surging and access to capital continuing to greatly expand in both periods.
“Consumer trends are clear. Based on our research and consultation with industry and consumers, the pandemic has invoked a strong desire for consumers to seek out products that deliver a multiplicity of health and wellness benefits that are backed by science.
“Our new stores on these ecommerce platforms will assist us to reach much more of the Southeast Asian market and grow brand awareness and stockist relationships across the region.”
According to Cross, EZZ Life Science is actively solidifying and growing its reputation as a world leading Australian company that delivers groundbreaking health and wellness products to the global market.
EZZ Life Science Holdings Limited (ASX:EZZ) is a genomic life science company with a mission to improve quality of life and human health. EZZ has a focus on genomic research and development to address four key human health challenges: genetic longevity, human papillomavirus (HPV), helicobacter pylori, and weight management. EZZ is passionate about investing in the future of consumer health through the development of e-commerce and distribution of high-quality products via omnichannel models across Australia, New Zealand, China and worldwide.