The mega shopping season is approaching! Those six words may send shivers down the spine of a retailer.
Whether you’re a florist planning for the Mother’s Day promotion or a grocer planning for a Christmas sale, the windows of opportunity to make an effect on the bottom line is fast closing. And when it’s gone, it’s gone!
In this post, we’ll reveal the top winning strategies to sell more during the Mega shopping season.
1. Focus on mobile discovery and messaging
People use their mobile phones to find shopping deals and ideas. In this region, mobile phones have also become a favourite end-of-year shopping channel.
In an Ipsos poll aimed at understanding customers’ year-end purchasing behaviours and views, at least 40% of respondents in Indonesia, Thailand, and Vietnam — and 22% in the Philippines — indicated they prefer a mobile-first year-end buying experience. In most South East Asian nations studies, mobile is the favoured end-of-year purchasing channel when it’s time to shop.
Facebook and Instagram are the most important purchasing influencers on social media. Facebook was mentioned by at least 80% of respondents in the Ipsos study, as a platform that impacts their purchasing decisions, while Instagram was mentioned by at least 70%.
Design your marketing efforts for a mobile-first audience to make the most of this opportunity. To get people’s attention right away, use vertical, short-form videos that emphasise your brand and products.
On Facebook and Instagram, you can also employ branded content advertisements to promote content created by influencers or publishers. Messenger and WhatsApp are important touchpoints that should be incorporated into your marketing strategy.
Consumers are increasingly seeking direct connections with businesses to find out more information on products or services, thus effective messaging is becoming more essential for businesses. 9 out of 10 people in South East Asia believe they are more inclined to buy from a company that provides seamless communication and faster response.
2. Add buy now pay later (BNPL) to your checkout options
The last year saw a significant shift in consumer preferences and expectations, as well as the retailers’ and service providers’ agility in rising to meet the challenges brought about by the pandemic.
Shoppers in Malaysia are increasingly embracing BNPL services that allows them to get instant credit approval, additional rewards and promotions and a faster and safer checkout experience.
Buy now pay later, or BNPL is a payment method devised by digital payment service providers that benefit both the retailers and the consumers.
Credit cards, with their high fees, penalties, and hidden charges, are the concerns of the consumers today, especially among the Millennials and Gen Z.
While credit card requirements haven’t been altered, BNPL, on the other hand is addressing the consumers demand for convenience and ease of use.
It offers the consumers better control over their budget without compromising their needs and wants while maintaining transparency, accessibility and security.
Offering different payment alternatives, such as monthly instalments or shop now, pay later, can potentially help you increase your sales during mega shopping seasons.
3. Meet high customer expectations
One out of every three shoppers across the world would cease doing business with a favourite brand after only one negative encounter. Businesses must provide good customer service, understand who your customers are and what they want to enable you to meet or exceed customer expectations on their terms.
Consumers today want businesses to provide them with a frictionless shopping experience, one that is simple and smooth from product discovery to purchase. In the Asia Pacific, 55% of those polled are unwilling to wait more than 5 seconds for a web page to load before exiting the site.
4. Leverage on extended shopping season
In South East Asia, the fourth quarter is one of the most lucrative times of the year for retailers in the online shopping space. The shopping holidays that fall within these three months attract a lot of attention as well. Singles’ Day and 12/12 are two of the most popular holidays in South East Asia, with at least a quarter of those polled indicating they buy on both days.
It doesn’t end there, though. As many nations celebrate the Lunar New Year in January, the shopping season continues. People that shop around this period say they do it to take advantage of extra Christmas deals and to stock up on items for the next year. While the primary events are Singles’ Day, Black Friday, and 12/12, consumers interest is strong during the whole month.
Build your marketing strategy around the peak days of the year-end sales fiesta and make sure you have an always-on, optimised marketing plan to take advantage of this season and drive sales conversion.
Time to ramp up your sales game
Businesses that prepare ahead are better positioned to improve sales and income especially during mega shopping seasons. You can be sure of clearing up your inventory quickly if you start early enough to apply the winning strategies shared in this blog.