What are Flash Sales in the Philippines and How to Start One?

Flash sales are extremely popular in the Philippines. Filipinos enjoy going on shopping sprees, which is why flash sales are so popular. Low prices, discounts, Shopee coins, and cashback are just a few of the perks that Shopee or Lazada provides us with when there are major flash sales going on. Examples are the Shopee Flash Sales. 

As a seller, you might be wondering how flash sales might be beneficial to your business. Customers will be more attracted to your product and shopping experience if you participate in flash sales, so the answer is yes. Flash sales can be an efficient strategy for a seller to attract people who are interested in purchasing what they are selling. It is difficult to imagine anyone who would not want to purchase items at a reduced cost. 

This article will assist you in understanding not only what flash deals are, but also how to create them, as well as other related topics. 

Related article: Get Ready for the Shopee Philippines 10.10 Brands Festival

What are Flash Sales?

A flash sale is a discount or promotion that is presented by an online store for a limited period of time. Because the supply is restricted, the discounts are frequently higher or more substantial than those offered by standard promotions. Consumers are enticed to purchase on the spot as a result of the time constraint and limited supply. This is known as impulsive buying.

While any ecommerce site can benefit from using flash deals as a beneficial promotional marketing strategy, some businesses have built their whole business models around them. A flash sales website like Shopee, for example, caters to working moms by offering things such as baby clothes and baby accessories at dramatically reduced costs for a limited period of time.

Specifically, flash sales differ from ordinary internet sales in the following three ways:

• In comparison to what your company normally offers, the discounts and promotions are significantly better.
• The duration of a flash sale is significantly shorter than the duration of your online store’s usual sale window.
• There is a restricted variety of products available for purchase, which is frequently combined with limited stock availability.

Should You Start a Flash Sale?

Anybody can set up a flash sale on the internet, but that does not imply that it is the best option for your ecommerce business. Before deciding to hold a flash sale, you should weigh the advantages and disadvantages of doing so.

Advantages of Flash Sales

• Excess inventory should be sold. Having a few fantastic products that haven’t sold as well as you’d anticipated can be cleared out to make room for new, in-demand products. A flash sale is a terrific way to do this.
• Increase the number of repeat customers. A significant flash sale discount is a great way to thank your most loyal consumers for their business. Customers that have a positive impression of your company are more likely to do business with you in the future, according to research.
• Create a sense of foreboding. When you limit your time-window and your stock, customers who missed out on your goods may become even more eager to get their hands on it. They will almost certainly want to sign up for your email list in order to ensure that they do not miss out on future deals.
• Attract new clients to your business. Using flash sales to get consumers to try your products might be a low-risk strategy. If they are satisfied, you might just have a brand-new devoted customer who will continue to purchase from you on a regular basis in the future (and again).

Disadvantages of Flash Sales

• Reduce the amount of money you make. Do you keep a certain percentage of the profits from each product you sell? What will happen to your company’s short- and long-term viability if that profit is reduced by another 25 percent, 30 percent, or even 50 percent in the future.
• Attract the “wrong” type of customer to your business. A flash sale can attract shoppers who are looking for a one-time deal. Once they’ve closed a deal, they vanish into thin air, never to be seen again. This type of marauding bargain “pirate” should be avoided at all costs if you want your flash sale to bring in new loyal clients.
• Customers become disengaged as a result of this. If you push a flash sale too hard (or too frequently), you run the danger of creating flash sale weariness. If your customers behave in a manner akin to Rhett Butler, they will not care about your campaign marketing. 

• Your reputation will be harmed. If you aren’t clear on how your sales event will be run or if you fail to provide excellent customer service afterward a flash sale can be detrimental to your reputation.

• If you decide that the benefits of a flash sale exceed the risks, there are tactics you may employ to increase the likelihood that your flash sale will be a success.

How to Start a Successful Flash Sale

With good planning and execution, ecommerce businesses may reap the benefits of having a flash sale and maximize their profits. There are a few safety nets that business owners should keep in mind, including:

• Make a decision on the purpose of your flash sale, which might be anything from clearing away excess inventory to generating awareness.
• Keep the sale as straightforward as possible. Customers should not be forced to go through hoops in order to take advantage of a discount.
• Select a target market and personalize the flash sale to meet the needs of that market.
• Make sure you’re on time. Target markets spend money at different times of year depending on their location. Make sure that your flash sale is as relevant as possible to your customers.
• Once you’ve decided when you’ll make the transaction, keep the time frame as short as possible. This will instill a sense of urgency.
• Make your discount stand out from the crowd. When compared to what shoppers could obtain elsewhere, a flash sale should offer significant savings to customers.
• Marketing, social media, and search engine optimization will all be used to promote the flash sale.
• Continue to keep an eye on the sale and provide exceptional customer service for the duration of the transaction. A flash sale is only valuable if it leaves customers with a favourable impression of your organization after it has ended.
• Make certain that your terms of service are understandable.

Be Flash Sale Ready with Ginee

One of the most effective strategies for someone like you to stay on top of their game is to be aware of and make use of all of the most effective resources that are accessible to them, just as you did with Ginee. If you want to fully differentiate yourself from the competition, it is critical that you stay one step ahead of the competition and learn how to do more with less work than your opponents.

Providing a single platform that allows you to do all of your business activities, from product organization to sales administration, Ginee Philippines makes it possible for you to complete all of your chores in a single location. Following that, you will be required to pay a nominal fee to continue using all of Ginee Philippines’ features after your initial seven-day trial period has expired.

You will learn more about Ginee Philippines in this post, and you will also receive advice on how to become a successful internet entrepreneur who is also efficient. The impending Shopee sale in 2021 will provide you with a fantastic opportunity to reap the benefits of your earlier efforts, and you should take advantage of this opportunity. Please register as soon as possible!