Singapore – Sales used to be a one-off thing, or at least a seasonal event that sees it happening after a particular interval, but now, sales, in the mid of the rise of e-commerce, has now become so much more than just brands offering discounts, but has turned to be a ‘celebration’ of some sort – a celebration of consumers’ buying power and merchants’ easier access to revenue. With this, mega sales are now being held on a regular basis, specifically every identical date of the month – such as ‘7.7’ for July, or ‘8.8’ for August.
The trend on mega sales events quickly transcended online commerce, and is now being joined by offline brands as well. This then makes brands think, how is the consumer behaving amid all this hoo-ha? Short-video platform TikTok conducted a 2021 survey among over 1,800 Southeast Asian users in March 2021, where 82 percent admitted to purchasing a new brand instead of a regular brand during mega sales.
Moreover, the same survey demonstrated that over half, 55 percent, made unexpected purchases during the said sales events, even when they had prepared a shopping list. This comes as an interesting insight as brands are in constant search of ways to attract new buyers. Adding to this, TikTok’s data also found that during this time, consumers are more open to exploring, with them shopping more across all categories.
Consumers’ likelihood to demonstrate an adventurous disposition during these mega sales events can be chalked up to the feelings of elation that shoppers have when these special sales arrive. According to a Nielsen Global Authenticity study, likewise commissioned by the short-video platform, 67 percent of users felt ‘happy’ or ‘excited’ towards the mega sales shopping season.
On that feel-good factor, it seems that shoppers are not only looking to the shopping event itself to ignite these positive feelings but are also expecting it at every step of the experience – becoming more inclined to engage in ‘shoppertainment’ or the fusion of entertainment and shopping. Brands themselves have raised the bar, leveraging today’s digital platforms in order to allure shoppers such as through live streams, short videos, and even augmented reality.
The same Nielsen study shows that 83 percent of users prefer to see video ads from brands over gifs or text posts.
Ng Chew Wee, the head of business marketing for TikTok in Southeast Asia, said that people have ceased simply searching for products, but are also searching for ‘people’.
“This year, we are seeing a rise of Shoppertainment – a convergence of content and commerce – where shoppers expect not just to be sold to, but to be entertained as well. Instead of people searching for products, products are now searching for people. We hope these insights can help businesses own their Mega Sales moment and engage with TikTok’s community of happy users. Happy users, happy buyers!” said Ng Chew Wee.
