Determining the lazada seller fees Singapore helps you to assess how much money your profit you make at the end of a payment cycle. Learning the process also is your marketing slash sales Tactics such that you may know whether or not they are effective. If you intend to know how lazada seller fees work in Singapore, this article concisely discusses all you need to know!
Why Use Lazada Though?
Lazada remains among the top e-marketplaces in Singapore as well as in Southeast countries in Asia like Thailand, the Philippines, and Vietnam. The platform has a broad array of traffic and reaches including its strong mobile app install base. This makes things more convenient for users to set up their products and entice customers. Lazada doesn’t request any start-up costs if you want to sell on the platform. You only sign up for a seller account, upload your products, and be charged 2% lazada seller fees in Singapore.
What Are the Types of Lazada Sellers?
The three types of lazada include Local seller, LazMall seller, and LazGlobal seller.
- You must be based locally.
- You get access to a broad selection of seller tools period to
- You operate entirely with 0% commission. Last molar sailor call on your
- You own a brand or you’re an authorized distributor.
- You are exclusively engaged in Lazmall campaigns
- You get access to additional seller tools
- You pay commissions for only selling products
- You must be based in China, Korea, or Japan
- Your business/company must the registered.
- You get to ship products to lazada overseas sort center
- You get access to a wide array of seller tools
- You pay commissions for only selling products.
Requirements prior to activating lazada seller fees
Initially, your company must have been registered under SSM in order to eligibly apply for lazada seller fees in Singapore. You would need to obtain SSM documents, business bank statements, and so on for lazada to review. But lazada has reduced the constraint by allowing individuals to apply as well too. Hence, anyone that owns a business can apply to be a seller considering that you are local-based and own a bank account. Some common requirements should be produced when you want to sign up which include:
- Your phone number, email address, and store (warehouse) address
- A front and back photo of your IC
- Your bank account number and related documents.
- Details/description of your product(s) including package weight and dimensions.
Overview of Lazada Seller Fees Process
When you want to sell on lazada you don’t have to worry about fixed fees, listing fees, or any hidden costs. The only things you may get charged for when selling on lazada are the commission and payment fee(s) per order. The charges are specifically based on the unit price of your product while the shipping charge is based on lazada’s published rate card. Lazada seller fees Singapore activates its commission fee on your account once the items being sold have reached your customers. The system automatically calculates according to your set unit price and the commission percentage will be based on the category of your product. Normally, all sellers are paid every week since the statement cycle occurs from Monday to Sunday. Payments are processed within three working days, after the end of the statement cycle.
Commissions: lazada gets remunerated by imposing a fixed charge per order item as it collects the applicable commissions. This applies only to sellers that are registered under Lazmall account type.
Payment fee: Lazada imposes its payment gateway and processes that securely accept a buyer’s payment upon any specific payment method such as online banking, credit cards, etc. The cost becomes passed on to the seller once the lazada payment has been settled.
Shipping fee: This has to do with the cost incurred for shipping an item to your customer. As the seller, you get charged hereafter third-party logistics (3PL) initially charges lazada. The seller has the right to determine whether to pass on the shipping fee to the customer or to bear the cost.
As of August 2018, lazada removed its commission charges, so the commission for selling on lazada marketplace channel was zero. Currently, there is a payment charge of two percent of the supplies for the use of its payment gateway on the platform regarding lazada seller fees Singapore. Lazada only charges for a commission per order which is based on the unit price of the item. This commission charge is calculated by adding the selling fee to the payment fee.
It is important to know how lazada payment processes work before setting up an account or listing your product on site. Depending on the marketing strategy used, you can determine whether or not your tactics are all effective. The platform offers a high-quality marketplace for sellers like yourself to get your products popularized via its extensive traffic and accessibility. Anyone can sell with lazada by selecting a suitable type of lazada seller account. Lazada seller fees Singapore include General services that range between 1% to 13% depending on your items category and Payment services (2%) for order coordination. Some other fees may be included such as shipping which is optional as the Merchant will not be charged if such an extra service isn’t selected.