Flash sales are a BIG thing for Filipinos! Everyone wants to get a good deal and have a budol that they can brag about when Lazada Philippines flash sales arrive. It is so important that as a seller, you will make the most out of flash sales and make sure that you will rise on top of it in terms of sales, and marketing, as well as customer satisfaction.
Flash sales also open you up to a lot of opportunities to boost your sales in Lazada Philippines. This will do a lot for you while also doing a lot for your customers. It is definitely a win-win situation if you join flash sales.
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What is a Flash Sale?
It is a type of sales promotion that companies and merchants use for a limited period of time to attract customers. If you have a huge number of products, holding a flash sale is a terrific strategy to generate sales in a short period of time, such as a few hours. However, there are instances in which you will need to make additional preparations if you intend to generate more than 10 times your normal sales in a matter of hours.
During the early 2000s, flash sales were increasingly popular. Since then, it has been hailed as a successful business model for both online retailers and brands. However, this does not imply that hosting a flash sale is simple. It is true that some businesses have suffered large losses as a result of botched flash sales, but there are also businesses that have reaped enormous rewards as a result of similar flash sales.
On the subject of flash sales, we’ll go through the guts and bolts of them, including the length of time that they should be run, when they should be run, how flash sales can go wrong, and what you can do to assure the success of your flash sales campaign.
How Long is a Flash Sale?
The greatest time for high click rates and the best transactions is between 3 and 4 p.m. The duration of a successful flash sale is one of the most important factors to consider. We propose short flash sales because they instill a sense of urgency in the minds of potential consumers.
This is supported by a study conducted by Monetate, which found that 50 percent of flash sales orders are placed during the first hour of the promotion’s duration. As a result, clients are urged to act swiftly in order to avoid the fear of missing out, also known as FOMO.
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The Best Times to Run a Flash Sale
If you are a well-established company, reviewing your past data is the most effective method of determining when to launch a flash sale. However, if you are just getting started, we propose that you hold flash sales around the following times of the year as a matter of course:
Before the Holidays
Holidays, also known as peak seasons, are a hectic time for both brands and customers because this is the time of year when they are inundated with marketing emails and notifications from various companies. As a result, shoppers tend to become fatigued by the constant stream of flash sales.
However, if you run a flash sale (coordinated with well-optimized advertisements) before the holiday, you will have a better chance of getting ahead of your competitors and even gaining some new consumers in the process. In addition, you will be able to make room for new merchandise. As a result, you will be able to boost your consumer base prior to the beginning of the holiday shopping season.
After the Holiday
Following the holiday shopping season, you will normally see a spike in the number of order returns. You can launch flash deals following the holiday season to make up for any sales that were lost as a result of the holiday. At the same time, if past flash sale consumers make a second purchase during your next flash sale, this can help to increase customer loyalty.
Aside from these two temporal triggers, it is also crucial to hold flash deals every few months to keep customers interested. You can develop insights from historical data once you’ve gathered enough of it. These insights will assist you in determining the optimum months to randomly hold a flash sale.
4 Ways Your Flash Sale Can Go Wrong
It’s difficult to imagine a flash sale that didn’t go well. The likelihood of a customer making a purchase after being informed of marginalized prices is high if the client receives notification of marginalized prices. However, there have been numerous instances in the past where enterprises established on a flash sales strategy have failed in terms of income.
Failed Delivery
Customer experience is greatly influenced by what happens after a purchase has been made. Failed deliveries and lengthy shipping are two of the most critical elements that influence customer experience. Customers frequently report that they have not received their merchandise for several weeks, and this problem is exacerbated if the products are sent in installments.
Approximately one-quarter of Invespcro’s polled shoppers said they would abandon a product order if same-day shipment wasn’t available. Meanwhile, 49 percent of shoppers claim that one of the things that makes them desire to shop online is the ability to receive their purchases quickly.
Not Having Enough Inventory
Flash sale products sell out 45 percent faster than normal items as compared to regular items. One way to disappoint your clients is to create enthusiasm around a product by offering a flash sale, only to discover that the product has already sold out.
According to a study on flash sales, one of the reasons some individuals avoid buying from flash sales is because they don’t want to be disappointed when the item they like is no longer available when they go to purchase it.
If you leave a consumer feeling unsatisfied, they will most likely express their dissatisfaction through word of mouth or social media. Customers that are dissatisfied with your product or service will not only leave a poor review, but they will also have a negative impact on your brand.
Failure to Reply to Customer Inquiries
During a flash sale, there is expected to be an upsurge in product demand and inquiries. Setting up automated responses is useful for responding to commonly asked questions (FAQs) and informing clients that you will respond to their inquiry as quickly as possible. It does not, however, assist you in getting to the heart of the clients’ concerns. It will not assist you in resolving their worries.
A lack of personal reaction to a customer inquiry results in a dissatisfied buyer, which can result in a loss of profit or, worse, the loss of a loyal customer just because you were unable to satisfy his concern.
If a buyer has placed an order and then decided to write to you with a follow-up query about delivery, here is an example of what I mean. It is possible that the enthusiasm brought on by the flash sale may be replaced by disappointment and a lack of interest, which will result in an order cancellation if the consumer does not receive a response from you within one day at the very most from you.
Not Following Basic Listing Guidelines
For example, suppose you and a competitor were both selling cosmetics on the same website. In comparison to your competitor’s product listing, which has not been sprinkled with the appropriate keywords, does not have strong primary photos, and does not clearly explain the product benefits in the product description section, your product will have a lesser likelihood of conversion.
When it comes to flash sales promotions, there is often a different module and algorithm set in operation. Consumer behavior, on the other hand, remains unchanged. Even if you have inexpensive prices, if your key photos are not visually appealing, the buyer will not be persuaded to purchase from you. If your product description page (PDP) is not sprinkled with the appropriate keywords, the customer will not feel any connection to your company.
Product descriptions that are filled with specifications and features rather than the actual benefits of what you are selling may cause the value of what you are selling to not register in the minds of your customers, reducing your chances of conversion.
Logistics For Flash Sales
After you have shipped your products in a timely manner, there is one more aspect that could have an impact on whether or not your consumers have a favorable or negative delivery experience: the logistics service you use. Choosing the best logistics partner for your company still has time to be done before it’s much too late. You can also read our articles on Southeast Asia Logistics Providers for Brands and Sellers.
How to Join Lazada Flash Sales?
When it comes to the Lazada marketplace, flash sales are a must-have feature. The following time slots will be available for your products to be displayed in the flash sale portion of this platform if you participate in a flash sale on this platform:
- from 7 a.m. to 1 p.m.
- the hours of 1 pm until 7 p.m.
- from 7 p.m. to 12 a.m.
According to Lazada statistics, these are the times of day when buyers are most active in adding items to their shopping carts and placing orders on the marketplace. Thus, participants in Lazada’s flash sale will benefit from a higher conversion rate, which has been promised. According to reports, even after the flash sale has ended, you will see a 30 percent increase in store visitors.
Go to the Lazada Seller Center and then hover the pointer over the Promotions tab to sign up for a Lazada Flash Sale! Campaign can be accessed by clicking on it. Select Daily Sales > Flash Sale > Available Campaign from the drop-down menu. To participate in a flash sale, select the one that you want to be a part of and then click Join.
Detailed information on the campaign can be found on the next page. Remember to pay close attention to this area because it is here that Lazada will specify the minimal requirements to qualify for discounts on specific product categories. Once you’ve read, understood, and agreed to everything, click on the Join Now button to proceed.
Following that, you will be prompted to select the products that you wish to include in the flash sale and to determine the price for the campaign as well. Submit.
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