Mobilised and motivated by Alibaba, China’s Single’s Day (11.11) shopping frenzy is spreading to Southeast Asia this year. In 2015, the 11.11th drove US $14.3 billion in online sales in China. In comparison, Black Friday and Cyber Monday combined, sold a mere $5.8 billion in the United States.
Whether you are a merchant, reseller or marketplace, here are some tips that can help maximise returns on the busiest sales day of the year:
1. Partner up
Stick to what you’re good at. There is no way one platform or merchant can do everything. Take Lazada for example. During key sales periods last year, the company saw its revenue uplift by six times on November 11 and December 12. Not to mention, there was a 55% spike in orders on Black Friday and a 45%.
Due to the growing consumer base, the company has changed approach over the years. Instead of trying to do everything in-house, the platform has moved to a partnership model of eBay and Amazon to work with specialist partners who can help everything from creating content, recommending photographers, to fulfilment and logistics partners. Spend on partnerships that exist to do all the heavy lifting for you.