Increased sales across all retail categories, all day long
Singapore – 8 November 2017 – Criteo (NASDAQ: CRTO) the commerce marketing technology company, today revealed that there was a three times increase in sales on Singles Day, which falls annually on 11 November, with shoppers browsing online up to four days earlier. This makes it the main sales peak of the season, impacting most retail categories, and is a major opportunity for both shoppers and retailers.
Based on an analysis of more than 5.1 million online transactions made in Southeast Asia last year (1 October to 31 December 2016), Singles Day saw an upsurge in average visitors on key Southeast Asian retailers’ websites, and marks the start of the year-end shopping season.
“We are seeing rapid year-on-year growth for Singles Day. To effectively engage with shoppers during this sales season, retailers need to place the shopper at the centre of everything by putting data into action at every point of the purchase journey. They must tap into an open commerce marketing ecosystem and use machine learning to connect shoppers to the products they need and love, and also engage with them at the right time. By doing so, shoppers will be able to purchase what they want at the best value, which drives increased sales for retailers,” said Alban Villani, General Manager, Southeast Asia, Hong Kong and Taiwan, Criteo.
Other key findings from Criteo’s analysis include:
- Retail sales peaked on 11 November, with a 254 percent increase.
- Between 9 and 12 November, there was a rise of 28 percent in average online traffic on key retail companies’ websites, and peaked on 11 November, with an increase of 59 percent.
- Shoppers are starting to purchase as early as 7 November, with a 29 percent increase in sales. The momentum continues with an average of 65 percent increase in sales through to 31 December.
On Singles Day, shoppers are browsing and shopping online all through the day, with sales peaking from 10am to midnight SGT. Most retail categories will see an increase in sales – fashion and electronics top the list, with an increase of 183 percent and 151 percent respectively. Fashion is the top grossing category, while health and beauty products remain the top sales category. Shoppers are also purchasing higher-value products during this period. The average order value between 10-12 November increased at an average of 14 percent.
Beyond the mobile web, more shoppers are increasingly making their purchase via apps. Apps account for 49 percent of all transactions and 73 percent of mobile transactions, for retailers who generate sales on all environments. More than ever, apps will be the place to be for shoppers and are a crucial touchpoint on shoppers’ paths to purchase. To ensure that they are able to reach shoppers during this period, retailers need to invest in mobile app optimisation and targeted marketing strategies to enhance mobile shopper engagement and increase sales.
“Shoppers will continue to demand a seamless omnichannel experience. Retailers need a strategy that optimises the use of offline and online data, and also pay attention to the growing trend of mobile and app use. Criteo’s technology allows brands to engage shoppers with relevant experiences on both retail apps and third-party platforms, thereby directly driving sales and profits,” Villani added.
For more information on Criteo’s analysis of shopping behaviour during Singles Day, download the full infographic at the following link.
For the LATEST tech updates,
FOLLOW us on our Twitter
LIKE us on our FaceBook
SUBSCRIBE to us on our YouTube Channel!