Singapore – Sales festivals, such as 11.11 and 12.12, create opportunities for consumers to make advanced holiday gift purchases, and retailers should note to make these moments count, and capture the attention of their shoppers in advance of year-end seasonal shopping moments.
Out of all these sales festivals, which remains the most popular among Southeast Asian consumers? The latest data from adtech Criteo finds out, spanning across recorded data from 280 e-commerce players from nine markets in SEA
According to the report, 11.11 emerged as SEA’s most popular sales festival, with sales made during this period in 2020 increasing by 554%
Meanwhile, Criteo’s report cited 12.12 as the largest shopping festival for SEA in 2020, with online retail sales and traffic increasing by 305% and 127% respectively.
Market-wise, observed trends found that 12.12 emerged as the most significant shopping festival for Indonesia, while 11.11 remained the largest sales festival for Singapore and Vietnam.
“While there has been tremendous growth in Double Day sales over the last two years, we are seeing that the growth in e-commerce sales (when compared with their respective baseline year) have been slowing down as more in the region get accustomed to remote work, life, and play,” said Taranjeet Singh, managing director for Southeast Asia and India at Criteo.
He added, “While retail sales continue to grow, we see that the rate of growth is narrowing. It is thus more important than ever for brands to understand consumer habits across online and offline platforms, and relook campaign strategies so that they can stand out from competitors and gain greater market share.”
As the present 11.11 sales this 2021 is nearing, top e-commerce platforms in SEA are currently launching big campaigns to gain further momentum. Lazada Singapore has partnered with real estate company Propnex for a S$1m-worth condominium for their 11.11 giveaway, meanwhile, Shopee has partnered again with CapitaLand for continuing the omnichannel drive which had gamification as a key aspect.