Online mega sales days and flash sales were once large drivers of e-commerce transactions but the proliferation of platforms and specials sales days is starting to wear thin with buyers.
FanRu Meng, CEO of e-commerce analytics firm Intrepid Singapore, said that the more frequent these retail sales are, the more customers see less value in them. In turn, it becomes more challenging for retailers to drive sales and conversions.
“There will be shopper fatigue. From a consumer perspective, there’s no more anticipation building up with significant dates to purchase a certain item when every other day, one can expect massive deals and discounts offered,” FanRu told Singapore Business Review.
To counteract shopper fatigue, FanRu said mega sales of retail brands and e-commerce platforms should be “differentiated.”
Lazada does this by localising its campaigns and working with merchants that will entice and will be relevant to communities in Singapore like Lunar New Year, Ramadan, and Christmas.
Lazada Chief Business Officer Carey Chong said they inject “exciting promotions” during mega sale campaigns, such as the million-dollar condo giveaway in their last 11.11 sale.
In Singapore, Lazada introduced Lazada Bonus, an additional campaign-only voucher that can be used on top of the existing store and Lazada vouchers, as well as Everyday Cashback, which presents shoppers with 9% cashback on eligible purchases.
These promotions are the “hallmark” of mega sales, Chong told Singapore Business Review.
Esta historia es de la edición Issue 100 de Singapore Business Review.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición Issue 100 de Singapore Business Review.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
How TikTok powers cross-border shopping for Singapore retailers
The yellow basket feature allows viewers to purchase items directly during livestreams.
Income Insurance seeks to fill billion-dollar financing gap in climate transition
The region skimmed its carbon intensity by 2.8%, far below the 17.2% needed.
SIDS fights misconceptions in interior design with accreditation, education
The organisation is setting up a digital platform to speed up accreditation from 6 to 2 months.
IHH's proton therapy takes aim at tumours with precision and low risk
Leaving surrounding organs at risk during cancer treatment might become a thing of the past.
SingPost pivots from mail to logistics as e-commerce demand drives growth
It is banking on e-commerce to drive its logistics unit, which accounts for 69% of revenue.
Singapore needs SEA neighbours to power renewable energy transition
Experts favour Malaysia and Indonesia as renewable energy import sources.
Singapore's architecture blueprint spurs push to tackle brain drain in other sectors
Paying the country's architects just right will hopefully stop the brain drain.
Millionaires eye a piece of Singapore's rich colonial era
The country's remaining 6,500 shophouses are in high demand amongst the ultra-rich.
HDB resale portal unlikely to cut out property agents
The portal enables sellers to list their units themselves.
Factory and retail spaces shine as housing heads for worst market slump in 16 years
Its manufacturing and tourism rebound will spur demand for industrial and high-street shops.
