After all, if shoppers know that another flash sale will be on its way soon, why should they bother?Īttracting only one-time buyers. If your business model heavily relies on flash sales, you run the risk of creating ‘flash sale fatigue’ where customers no longer feel the same urgency to make purchases. Here are some common mistakes that hamper the success of flash sales: While it may be an extremely effective method for driving higher transaction rates, flash deals also cause you to lose customers if you don’t create a customer-centered shopping experience. Why? Because many merchants who run flash sales do so poorly and end up damaging their brand’s reputation. It’s fair to say that flash sales don’t always have the best reputation in e-commerce. Use flash sales to offload excess inventory at the end of the season and free up more space to restock better-performing items. In addition to being a sales strategy, flash sales also offer merchants a sophisticated inventory control strategy. This inspires favorable feelings towards your brand and primes shoppers to stay engaged with your marketing efforts, leading to better search volumes and stronger inroads to attracting competitors’ customers. In the battle to stand out from the likes of Amazon and Walmart and their aggressively low prices, flash sales are a powerful tool to drive brand awareness and attract more customers to shop with you – and if you play your cards right, to turn them into loyal customers.Ĭonsumers love getting a good deal that doesn’t come up every day. Why should you consider running a flash sale?įlash sales have gained widespread popularity as e-commerce grows more competitive. This is to ensure that a brand has adequate buffer stock levels, or because they’re targeting a specific product that has either limited or excess stock. Most flash sales will only cover a limited amount of inventory, rather than being store-wide. This is designed to attract online shoppers and create urgency to purchase while the deal is still valid.ĭepth. Running a flash sale means requires deep discounts that your online store wouldn’t usually offer as part of an ongoing sale. Because time is short, online shoppers need to act quickly to take advantage of the deal and secure the items they’re interested in.ĭiscount. Flash sales run for a much more limited period than typical e-commerce promotions because they are designed to encourage impulse buying. How does a flash sale differ from a regular e-commerce sale ?įlash sales differ from regular promotions in three key ways:ĭuration. Brands can use flash sales to get rid of excess inventory, increase customer acquisition, target disengaged customers, and boost short-term sales. The purpose of flash sales is to stimulate buyer urgency by offering an enticing deal that isn’t available on a regular basis. The shorter a flash sale is, the more generous the discount will normally be. Flash sale meaning What is a flash sale in e-commerce ?Ī flash sale or flash deal refers to a promotion where online stores sell products at a steep discount for a short period of time, usually no longer than 48 hours. With some careful audience research and goal-setting, you can hold a successful flash sale that boosts brand awareness – and your profits. Yet flash sales are often poorly executed, resulting in high customer churn and a loss on sales due to aggressive discounting practices.īut running a flash sale doesn’t have to mean a race to the bottom. If you’ve ever shopped online, there’s a good chance that you have several of these emails sitting in your inbox: brands driving you to buy RIGHT NOW to take advantage of an amazing deal.įlash sales are a well-used strategy within the e-commerce toolkit to generate sales and encourage impulse purchasing behavior.
0 Comments
Leave a Reply. |