Before building sales strategies, we have to look at the last couple of months, there were a series of major Shopping Events such as 11.11, Black Friday, 12 December. However, it would be a mistake if you think shopping festivals are over.
Before the longest holiday of the year, Lunar New Year, people’s shopping demand will still be very strong. If you’re a retailer or a brand owner, don’t miss out on this business opportunity to boost your sales.
Build year-end Sales Strategies
Shopping on e-commerce sites has become a habit for Vietnamese consumers in particular and South-East Asian in general. Especially during the festivals, along with great promotions, Shopee, Lazada, Tiki, Sendo. They attracted a huge number of visitors every day and brought great sales.
There have also been huge Christmas, New Year, and Chinese New Year promotions since 12/12. If you’re trading on e-commerce sites or only in-store, it’s time for you to build new sales strategies to increase business efficiency.
Consumer Mentality
Market behavior surveys uncovered 5 fascinating facts about year-end shopping behavior and how the pandemic has influenced consumer attitudes.
The biggest audience drives the growth of online shopping behavior.
65 percent of the Generation X and Boomer surveyed globally state they have used more mobile devices since the Covid-19 translation started. For Boomers, the trend of mobile holiday transactions increased by 20% year-on-year in 2020.
In Vietnam, 70% of Generation X and Boomers surveyed texted at least one store during the year-end shopping season.
Shopping festivals have become even more relevant.
The economic difficulties of the last phase of COVID-19 will boost the shopping festivals at the end of 2020.
In Vietnam, 82% of year-end shoppers surveyed said they actively seek discounts during this shopping season. 70% say Tet is the time to hunt for the best incentive programs.
The change caused by Covid-19 makes users more open to new products and services.
79% of respondents in Vietnam said they are more likely to try new products when they shop for the Tet season. A multi-channel shopping experience is very critical to consumers during the New Year season:
- 82% of Tet shoppers surveyed in Vietnam said they usually research what they want to buy online before buying in a store.
- Even while in a store, 39% of shoppers will continue to research the product through social media.
Honesty and affordable prices are the values consumers seek.
40% of year-end shoppers in Vietnam want to look for products and services that are honest and have clear and transparent information.
Consumers want brands to be smarter and more trustworthy. Product videos are the most useful way for them to make a buying decision.
10 steps to get better year-end sales strategies
- Analyze current sales trends and plan your campaigns.
- Choose our target market and audience
- Organize your inventory and get ready to experience a spike in sales.
- Ensure timely delivery by hiring additional staff.
- Offer discounts and special offers to attract customers to your brand.
- Redesign your website with festive themes.
- Upgrade your product list with optimized content and PIM tools.
- As Christmas approaches, don’t forget to include products
- Focus on capturing early birds and latecomers.
- Get feedback and reviews from your customers to improve the way you sell in the future.
New directions for businesses
In order to improve interaction and drive conversions during the end of the 2020 shopping season, businesses need to personalize their wide-based scope of target customers and send specific messages to various audiences.
Discounts and promotions will continue to be important. Ten days before the discount is the right time to remind consumers. Businesses need to prepare early for the buyer’s shopping mentality.
The year-end shopping season is an opportunity for businesses to expand potential customers and reach new customers. Businesses need a rigorous omnichannel marketing strategies and leverage the power of social media to drive discovery and transformation in the coming holiday season.
Try new highly interactive formats like Livestream sales, voting advertisement, or gaming to communicate with consumers. Using the form of KOLs for your brand is also a good idea to reach users during this time.
A scientific approach with an understanding of market change can also help you achieve the best sales strategies. Hope the blogs from Omisell offer you valuable information.
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