Singles’ Day is the most celebrated shopping festival in Singapore, Malaysia, and Taiwan. According to data from advertising platform Criteo, Singles’ Day in Singapore saw a 368% increase in online retail sales and 255% increase in online retail traffic last year. It also had the highest conversion rate among Singaporeans with an increase of 61% out of all the key shopping seasons.
Online retail traffic peaked at around noon time and 9 pm to 11 pm on 11 November. Top performing product verticals in Singapore during Singles’ Day were fashion/luxury (743%) and home improvement/gardening/interior design (376%), based on sales uplift figures.
This was exponentially more than Black Friday online retail sales and traffic increase, which stood at 114% and 83% respectively. Meanwhile, online retail sales and traffic increases for Cyber Monday in Singapore were 77% and 39% respectively.
Meanwhile, Malaysia witnessed a 418% and 102% increase in online retail sales and traffic respectively for Singles’ Day, while Taiwan posted a 327% and 133% increase in online retail sales and traffic. The next two most popular shopping festivals in these two countries were 12.12 and Black Friday. In Malaysia, 12.12. saw a 195% increase in online retail sales while traffic grew by 57%. As for Taiwan, the same shopping festival had a 153% increase in online retail sales and 70% increase in traffic.
On the other hand, 12.12 came out on top as the winning shopping festival in Indonesia, followed by Singles’ Day. The 12.12. shopping festival had an online retail sales and traffic increase of 389% and 148% respectively last year, while Singles’ Day in Indonesia saw a 174% and 37% increase in online retail sales and traffic respectively. Interestingly, Black Friday was ranked the most popular shopping festival in Vietnam, with 149% and 61% increase in online retail sales and traffic. This was followed by Singles’ Day (online retail sales and traffic increases of 64% and 23%), and 12.12 (online retail sales and traffic increases of 97% and 34%).
In-app sales gained significant traction in Singapore
Consumers in Singapore shop on mobile just as much as, or even more than, on desktop to take advantage of any deals that may come up. Retail sales on mobile web comprised 53% of overall online retail sales. This is a 547% increase compared to 453% for desktop. With higher mobile traction, in-app sales and traffic are also experiencing significant surges in Singapore.
Singles’ Day noted a 539% increase in in-app retail sales and 300% increase in in-app traffic sales. This trend was not limited to Singles’ Day, with main shopping festivals such as Black Friday, Cyber Monday and 12.12. all experiencing the same update. There was a 230% growth in online retail sales and 181% increase in traffic for Black Friday. Meanwhile, Cyber Monday saw a 221% increase in online retail sales and 90% growth in traffic. As for 12.12., online retail sales jumped 616% on the app while traffic increased by 405%.
According to Pauline Lemaire, director of account strategy – large customers, Criteo SEA, Taiwan and Hong Kong, offering lower, affordable prices is not the only way to win consumers’ hearts. Nearly 75% will purchase from brands with the best value for money and around 55% look out for a wide product selection.
“As Singles Day is still the biggest shopping season, retailers should look at doing something new to stand out from the numerous promotion deals. This could involve introducing a new product line and expanding their inventory for instance to attract new audiences,” she said.
She added that as the year comes to an end, the shopping season usually begins with 10.10 sales and there will also be a spike in online retail as part of the year-end holidays celebration. “This sustained sales season presents retailers more opportunities to engage their audiences. However, they are also faced with a real challenge to differentiate themselves,” she explained.
Lemaire added that using data, marketers can identify top selling categories amidst millions of products, predict shopping behaviour and integrate online and offline shopping data.
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