CMO Spotlight: eCommerce Aggregator Society Pass Inc (NASDAQ: SOPA) CMO Talks With Benzinga On The E-Commerce Company’s Presence in Asia And The Problems It’s Solving

E-commerce in Southeast Asia continues to grow by leaps and bounds. The region’s e-commerce industry is expected to reach $89.67 billion in 2022, up $15.31 billion from last year’s $74.36 billion.

Only four countries are expected to grow faster than Southeast Asia combined in 2022, and two of those — the Philippines and Indonesia — are in the region. It’s this growth that defines the ecommerce aggregator Company Pass Inc. SOPA Plans to use and both of the above countries are already part of the Society Pass business plan.

Benzinga recently spoke with Chief Marketing Officer Rokas Sidlauskas to discuss the company’s business, its target market and more.

Society Pass’ vision and Sidlauska’s perspective on the company

Society Pass, also known as SoPa, is an acquisition-driven e-commerce holding company aiming to become the goliath of e-commerce in Southeast Asia. The company operates across six verticals: Customer Engagement, Lifestyle, Food & Beverage, Telecom, Digital Media and Travel.

SoPa is building a next-generation, multi-industry loyalty program – a platform that rewards users for their daily and habitual activities, such as ordering groceries, buying clothes, and buying travel tickets.

Sidlauska, who only joined the SoPa team on September 1, was drawn to the company because of the loyalty program project, CEO Dennis Nguyen’s drive to make it happen and the opportunity to work with talented people to develop a product rewards customers.

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The company operates in Vietnam, Indonesia, the Philippines, Singapore and Thailand. SoPa wants to expand into other markets in Southeast Asia. From a demographic perspective, SoPa’s target market is 15- to 50-year-old tech-savvy individuals, who predominantly live in urban areas where the company operates.

“Around 575 million people live in the markets in which we operate today. This market is economically fast growing, young and technologically committed, which only underscores what a promising environment this is for SoPa to set up our operations in,” said Sidlauska.

According to Sidlauska, the challenge with loyalty programs is that they are enterprise or vertical. Being company-centric means you can only redeem points through a specific shop, while vertically-centric means they can only be used in a specific industry.

Other challenges include difficulties redeeming points, ensuring their validity, and transferring points from one person to another. Sidlauska believes what SoPa is building will solve these challenges and allow customers to use their points across multiple industries.

The problem that SoPa wants to address

SoPa aims to create a win-win environment where customers are rewarded daily for their loyalty to specific brands and services, while giving brands the opportunity to connect with this loyal customer base and grow their sales.

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The company’s unique selling point is the reward it offers for all transactions in the SoPa loyalty program. For example, customers can buy a ticket through a travel agent and then redeem those points in their local market by ordering food.

SoPa’s management team includes the CEO, who has over 25 years of experience in the business and financial world. Some of the company’s operations are led by original founders such as Loïc Gautier, CEO of Leflair Group, and Johanes Chang, who runs NusaTrip Indonesia and has over 20 years of experience in the travel and leisure industry.

Regarding the challenges they will have to overcome in the next 12 to 18 months, Sidlauska said: “There are a number of challenges of varying complexity. Tokenomics or the points system is something that takes a lot of effort to ensure that it makes good business sense for all the companies and businesses that participate in this loyalty program. In addition, there are some technological challenges, such as B. Ensuring that all companies connect to this system and communicate correctly.

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“There is still work to be done, but we are very happy to be on this path and look forward to launching a world-class product in the first quarter of 2023.”

About the CMO

Sidlauskas joined SoPa in September after several years working in various leadership roles in the digital health space. He has spent the last 11 years in Asia, working in various management positions mainly in e-commerce and digital business.

After completing his Bachelor of Arts degree in European Studies and Politics from the University of West of England in 2008, Sidlauskas began his career as Regional Sales Manager at Ulysses Systems before joining ding.com, formerly known as Ezetop, in 2010 as a Development Manager .

He has also worked as Business Development Manager for The Legal 500, Vice President of Sales for Ensogo, Vice President of International Business Development for Passport Asia, Director/Venture Lead for CMG.ASIA. Sidlauskas was most recently Head of Product Development Solutions at Hello Health Group, one of the leading digital health companies in Southeast Asia, before joining SoPa.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended as investment advice.

Featured Photo by Afif Ramdhasuma on Shutterstock

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