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The best way to sell all the stock within 24 hours
In the 90s of the past century students of several universities in Nanking started a new tradition of celebrating Singles’ Day on 11 November. Four figures of one in the date of 11.11 symbolize single people and are favorable to start new relations and … stimulate incredible shopping spree.
Numbers as a starter
Very quickly Singles’ Day has turned from a festival of lonely hearts into the equivalent of Black Friday in the USA, a 24-hour marathon of amazing sales. Starting from 2013 manufactures of different goods have initiated unprecedented bonanza sales both offline and online.
For example, in 2013 the largest trading platform Alibaba (including its subdivisions Tmall and Taobao) earned 3.1 bln US dollars only during the first hour of operation on Singles’ Day. Last year customers spent more than 5 bln US dollars on the on-line sale. Thereat, based on Alibaba Group, 72% of orders were made through mobile devices. In 2015 the turnover of the trading platform during 24 hours of sale amounted to 13.5 bln US dollars. The leading goods were
· Apples - 64 mln kg
· Honey – 26 mln kg
· Nuts – 56 mln kg
· TV sets - 64 mln
· Telephones - 13 mln
· Watches - 11 mln
If this sales volume and results make your commercial director exited, you’d better advise him to take a notice on the following factors, which are important to consider to work out a successful campaign on Singles’ Day.
To stand out is to sell
Whatever your goods are, the key recommendation is to become noticeable among thousands of other offers. Everything should facilitate this goal such as a strong design, call to action, a special offer itself (“Only today at the lowest price!”), your bestsellers on the main banner in the golden ratio.
Remember that design and creativity are not the keys to everything. Classical instruments of marketing also count:
Offering a limited amount of goods at a very low discount price (up to 90%) is one of the favorite instruments of marketers on Black Friday.
It is an effective method of increasing the users’ base for your account in social networks. This method helps to sign up a group of customers to your account, who will later get a discount for goods. As soon as you get a required number of subscribers, you start sales. This method stimulates customers to gather in groups to get the maximum discount. You are also benefiting as you get new subscribers and clients “in bulk”.
With this method you can use different limitations such as time limitation (XiaoMi often uses this method to attract customers and offers goods at a discount, which is valid during a limited period of time; e.g.: on Tuesdays from 12:00 to 14:00.) or quantity limitation (when a limited number of goods is offered at a discount price or with a bonus).
Some companies start campaign for their goods and services one week prior to the official start of sales. 10 days before Black Friday goods are offered at cheaper prices and their availability is ensured. The rate of discount is increasing as it is getting closer to Singles’ Day with its maximum reaching on 11 November. However, some manufactures organize such effective pre-sales that by the main day they have sold all the stocks.
What to expect this year?
In 2015 AliExpress, a Chinese online commercial platform famous among Russian-based customers, introduced the tradition of sales on 11.11 in Russia. The idea of Singles’ Day was supported both by Chinese and Russian companies.
This year Russian and foreign giants of internet commerce are planning to continue the tradition of sales. Tehnosila and Philips, Redmond and Wikimart, L’Oreal and Lamoda, 220 Wolt and Xiaomi, Apple and OZON and many others have already announced their participation in Singles’ Day sales.
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