Outdoing 2018’s record high, Singles Day 2019 amassed £23bn in sales in 16.5 hours of trading – making the online shopping event the biggest in the world. Black friday, which takes place on November 29th, and Cyber Monday, which happens on December 2nd, are two of the biggest shopping events of the year in the U.K, Europe, and the United States.
UK shoppers bought 0.4% more on black friday deals in 2019 than 2018. While Barclaycard reported that the volume of transactions on Black Friday 2019 increased by 6.9%. But singles day still comes out on top.
How to profit from singles day in 2020?
Wondering how your e-commerce business can cash in on the popularity of Singles Day? In this article we offer five proven tips for making the most of the day.
In this article, we’ll take a look at:
- What is singles day?
- Singles day worldwide: what 2020 could look like
- Excited to see large returns this singles day?
- 5 tips to win singles day 2020
- Shipping without the stress throughout peak season
What is singles day?
The first singles day took place in 1990 to rival the couples-only Valentine’s Day. The idea aspired to encourage singles to indulge in self-care and celebrate their singledom. How did Singles Day go from a national holiday to the most popular e-commerce shopping day of the year?
In 2009, Chinese e-commerce giant Alibaba turned the holiday into an online shopping fest. Since its early days, Singles Day has grown year-on-year around the world – stealing the coveted crown as the biggest shopping day of the year.
In 2019, China’s biggest retailers continue to amass the most revenue from the event. Last year, Alibaba totalled 268.4 billion yuan (GPB29.3 billion) in sales. Alibaba’s largest competitor JD.com accumulated sales of 179.4 billion yuan (GPB 19.5 billion) by the afternoon.
Singles day worldwide: what 2020 could look like
Singles Day 2018 saw its most impressive sales yet. We predict this upward trend will continue to grow as more retailers catch on around the world. singles day is a great draw for bargain-hunting shoppers, who don’t want to wait for black friday to roll around to begin their holiday shopping.
Excited to see large returns this singles day?
Singles day is equal parts self-care and self-indulgence – whether it’s a new lipstick or a bestselling novel. As a retailer, on singles day you’ll capitalise on the widespread media coverage and marketing frenzy of rival businesses.
Both businesses and consumers are becoming more and more aware of the shopping holiday, with many seeing it as the official kick-off to the holiday shopping season.
Looking for fool-proof tips and tricks for cashing in on peak season? Take a look at our e-commerce peak season guide.
5 Tips to win singles day 2020
Take a look at these five tips to successfully cash in on Singles Day 2020.
1. Email discounts for dream products
Personal email discounts are a surefire way to your customers’ hearts. The best kinds of email discounts? Ones that include products from your customer’s wishlist. Inspire customers to set-up a personal wishlist of their favourite products from your store.
When Singles Day arrives on the 11th of November, you can delight them with an email filled with personalised discount codes for products in their wishlist. This is a great way to both maximise your profits and guarantee customer retention by helping them save even more on their desired products in the Singles Day sales.
2. Gifts Gifts Gifts
Free gifts are another fool-proof way to hook shoppers this Singles Day. Surprising shoppers with a gift is a proven way to improve customer satisfaction and retention rates. 90% of consumers said getting a gift increased brand loyalty.
The trick? Offering either a free product with purchases over a certain price point or a gift box full-of products worth more than you’re offering them for. This may mean you offer a box of goodies for £15, when ordinarily they are worth £35.
Another benefit of gifting? It’s a chance to get rid of surplus stock, while introducing your customers to a new product or line. You can heighten the customer experience further by offering your gift in a beautiful gift bag or eye-catching wrapping. This makes unwrapping a fun and immersive experience for shoppers.
3. Appeal to their generosity for singles day
It feels good to be generous. And you can play on your customers’ finer instincts. Catching a discount on a pair of shoes or t-shirt they know their friend or family member will love is as satisfying for many shoppers as scoring a bargain for themselves.
Ads that appeal to shoppers’ generosity hit the right emotional tone and can help you maximise your revenue this up-coming Singles Day. Feature products that are the perfect gift for family members and friends across your social media channels to put shoppers in the right frame of mind. Whether it’s a lavender candle positioned as the perfect stress-busting antidote for a busy mum or a bracelet for a favourite friend.
Gift cards with friendship or family quotes are also a nice added touch to help you convert. Go further by adding free gift wrap for any gift purchases.
4. Forget singles day, embrace singles week
As more and more retailers begin to catch on to the opportunities Singles Day brings, how can you make sure you stand out in a sea of sales? Think like Amazon, who stretch Black Friday and Cyber Monday out over a handful of days, and turn Singles Day into Singles Week.
Not only will this curb the intense competition of rival brands vying for customer attention over 24 hours, but it also gives customers the freedom to enjoy shopping for sales throughout the week – rather than boxing them into a snap decision on one day. This also gives shoppers the chance to return to your store and reduces the stress of processing a flood of orders over the course of a single day.
Offer countdown deals and surprise offers in the run-up to Singles Day to build excitement and keep customers coming back to your platform. Rounding down the shopping frenzy with extra coupons for items in your customers’ wish lists the day after Singles Day can also be a good tactic for converting customers who may have forgotten to buy.
5. Position your best bait products for singles day
Singles Day is all about making yourself feel good. This means some products will appeal to shoppers more than others. Retailers typically sell big on women’s cosmetics, perfumes, clothing, and accessories. Gadgets often sell best for men.
Highlight these bestsellers in your marketing efforts as a sure way to bring more people to your store and draw them in with the rest of your product range. Don’t hesitate to sell some of your best ‘bait’ at a small loss – but only if you think those items will have the most success at enticing customers.
Singles day shipping without stress
Singles Day offers retailers even bigger opportunities than Black Friday and Cyber Monday. Despite being one of the less well-known shopping holidays in the West, the Singles Day buzz is growing across Europe and North America.
November 11th also coincides with the beginning of the e-commerce holiday peak. This makes it the perfect time to step-up your marketing game and prepare yourself for a flurry of orders. In order to meet demand, make sure your shipping processes are where they need to be to handle the influx.
To help make sure your Singles Day (or week!) runs smoothly, we’ve compiled a list of top shipping tips.
Seamless singles day shipping 101:
1. Personalised order updates
During the holidays, customers are most anxious about when their item will arrive. You can keep your customers happy by allowing them to easily track their order’s status from their phone or desktop. Start now with the optimisation of your e-commerce logistics.
Sendcloud allows you to automate branded tracking notifications – keeping customers updated on their whereabouts of their order. Automated updates reduce your manual workload, satisfy customers, and cut calls and emails to your customer service team.
2. Multiple shipping options
Multiple shipping options are one of the best ways to make sure your customers get their order on the first attempt. The holiday season shopping rush often leads to delays – frustrating customers who need an item on time.
Sendcloud allows you to combine multiple shipping options and change carriers when one is overburdened with items. This helps guarantee your products get in your customer’s hands on time – spiking your customer satisfaction rates.
3. Insure your shipping for singles day
Peak period is prime time for lost or damaged packages. Without insurance, you eat the costs of any missing or damaged items. Protect yourself by insuring packages. Also be sure to send out a new product to your customer as soon as anything goes wrong.
Shipping products with Sendcloud? You can easily insure all of your packages for a low fee.
4. Add pick-up points
Pick-up points guarantee a delivery on the first attempt. They offer consumers a sense of added security that their package will be delivered on time during the holiday season. Shipping to a pick-up point is often better for the planet and cheaper for you.
Sendcloud allows you to choose from a network of pick-up points operated by leading carriers.
Get started with our all-in-one shipping tool
Make sure your customers get their packages on time and take the stress out of the holiday shopping rush with our all-in-one shipping tool.
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