Today is the age of event-based sales sites. If you don’t believe so, let us look at the figures. Sites that cover flash sales, daily deals, and loyalty programs have grown by 50% over the past five years. These are projected to generate over $ 6B in revenue by the year 2015. However, many brand manufacturers have begun to avoid flash sales sites as they are finding them less and less attractive in the wake of the fading great recession. As a result, they have started pulling merchandise in an effort to regain and recapture control over their brands.
However, this does not exactly mean that brand manufacturers are no longer interested in event-based retailing. Many are still excited by the prospects of profitable flash sales, however, they are asking one question – can flash sales be done by themselves instead of relying on third-party sites? Hence, the current focus in on trying to take flash sales in-house, and trying to unload excess inventory while driving incremental revenue.
Many pioneers who have been into event-based retail have one key lesson to teach others – you have to go mobile. This is exactly where Flash Sale website shoppers stumble. They know that time is not on their side. Hence, they rely on their mobile devices heavily to complete the transactions since they fear the product they like will be gone in the next 10 minutes. According to statistics, between 40 and 60% percent of total sales are completed on a mobile device of traffic comes from a mobile device for companies such as Joss & Main, Rue La LA, Beyond the Rack, and Haute Look. For Rue La La, 60% of all thanksgiving sales were from mobile devices.
The rule governing flash sale shoppers is quick evaluation and impulse-driven purchases. Since most ‘buy’ decisions are based on an impulse, you need to impress the buyer right away. An interesting fact is that nearly 75% of all Americans bring their Smartphones to their bathrooms. So, missing a flash sale just because the shopper is using the bathroom is not the right way forward to complete a flash sale! People also read about how mobile apps are changing the future of eCommerce.
Now, you need to decide what you are going to do next. So, whether you want to go responsive, or use the eCommerce mobile app, or even go in for a native app., the point is that you need to consider is that whether you want to get into the event-based retail game or not. This is strongly linked to the mobile game, and you know where you will stand if you choose to ignore this.
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Minal Joshi is a content marketer at Krish with a flair for eCommerce and Digital Commerce aspects. She is a MarTech fanatic with a knack of writing with which, she helps brands to curate, create, & commence digital brand positioning. Sharing insights via articles, case studies, eBooks, Infographics, and other forms of content creation is what she lives for. Being an ardent traveler, when not writing, you'll find her sipping coffee into the mountains or petting a stray.
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