Possible — with the right sales strategy/analytics to target ads in a more focused way, one commerce media firm’s data shows
Last year, according to the Criteo Sales Index, online retail sales in South-east Asia soared by 399% on Singles’ Day.
The region captured a moderate increase in online retail sales, with a 4% jump year-on-year (YoY). Some countries within the region had significant growth YoY, such as Vietnam (+35%) and Singapore (+22%),
Analyzing consumer purchases during Singles Day 2021 compared to the average during the last week of October 2021 showed that the lifestyle retail category led the way in the region, generating 19% more sales on Singles’ Day.
As traveling restrictions eased, travel, sales saw significant growth at 97% compared to 2020. Categories such as Baby & Toddler Swimwear (141%), Lingerie (87%), and Leotards & Unitards (77%) remained the top trending categories of purchase in summer. This reflects the overall recovery of social lives for many regional consumers.
Across South-east Asia, Double Date sales remained a significant shopping event in countries including Indonesia and Vietnam. In Singapore and Malaysia, however, Single’s Day remained the most extensive shopping event, reaping more than double the sales on double dates.
- South-east Asia
- 10.10: increase of 288%
- Singles Day: increase of 399%
- 12.12: increased of 453%
- 10.10: increase of 78%
- Singles Day: increase of 223%
- 12.12: increase of 72%
- Black Friday: increase of 71%
- Indonesia: 12.12 remained the winning shopping festival, followed by Singles Day.
- 10.10: increase of 111%
- Singles Day: increase of 178%
- 12.12: increase by 188%
- Vietnam: 12.12 was the winning shopping festival, followed by Singles Day.
- 10.10: increase of 104%
Ready for Singles Day 2022?
In this year’s 10.10 sales, analysis showed that South-east Asia recorded a 97% increase compared to the average week a month earlier, September 10–16. This was much lower than a year ago, where sales had increased by 136%.
Additionally, YoY sales were down by 12% on 10.10. A similar trend was captured in Singapore, wherein sales were up by 104% compared to the average week a month earlier. However, the increase in sales was higher last year at 115%, indicating a decrease in YoY sales by 21%. Similarly, YoY sales for Indonesia and Vietnam have decreased by 27% and 42%, respectively.
According to Criteo’s surveys, consumers are taking the hybrid path of purchasing, and they want the best of both worlds. While returning in-stores, they still rely on retailer websites and mobile applications to supplement their shopping experience. The data also shows that consumers appreciate relevant and personalized advertising. This trend was mirrored in the recent Doubles Day 10.10 data.
As social lives return to normal and more consumers visit offline stores this trend is expected to continue. To fully leverage Singles Day for maximum momentum, the firm recommends that retailers increase their efforts to synchronize online ads supplementing ‘hybrid shopping’ by offering:
- a seamless hybrid shopping experience: Provide consumers with a smooth shopping experience that creates loyalty and trust by including innovative and practical customer services, such as buy online, return in-store. This easy return policy helps consumers decide whether to purchase a product when shopping online.
- appropriately targeted ads: Optimize data and analytics on websites and apps to push targeted ads at the point of purchase, subsequently influencing sale convergence online.
Said Taranjeet Singh, Managing Director (South-east Asia and India), Criteo: “Every year, Singles Day sees a boost in online retail sales, a trend echoed across South-east Asia. Therefore, brands and retailers must understand the consumer landscape to maximize this event’s impact.”