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Criteo: Singles Day still among most popular shopping events

Released at: 16:02, 05/11/2019

Criteo: Singles Day still among most popular shopping events

Photo: Khanh Chi (VET)

Singles Day still a key shopping festival but 10.10, Black Friday, Cyber Monday, and 12.12 are showing uptake among Vietnamese.

by Hung Cao

Criteo S.A., an advertising platform for the open internet, has unveiled seasonal data that shows that Singles Day is still among Vietnam’s biggest shopping festivals. The data reiterates the opportunity retailers can tap into to enhance their shopper engagement.

Aside from this standalone festival, other shopping events, mainly 10.10, Black Friday, Cyber Friday, and 12.12 are also allowing retailers to creatively engage their target audience.

Singles Day saw a 64 per cent increase in online retail sales and 23 per cent increase in online retail traffic in 2018. Online retail traffic peaked at around noon and 9pm to 11pm on November 11.

Of all the key shopping seasons, Black Friday had the highest conversion rate, with an increase of 53 per cent. The top performing product vertical was Fashion/Luxury, though it has been noted that mass merchant sales grew significantly on Black Friday as well.

“Retail sales for Singles Day are growing at a whopping rate yearly,” said Mr. Steven Tuan Nguyen, Senior Regional Manager for Southeast Asia (SEA), Criteo. “While it makes sense to join the bandwagon in offering lower, affordable prices, our ‘Why We Buy’ survey has shown that this is not the only way to win consumers’ hearts.”

“Other considerations include ensuring the best value for money and 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 to attract new audiences.”

“The year-end shopping season would usually commence with 10.10 sales. Singles Day remains the key shopping festival and post-Singles Day sales ride on the festivity’s traction. As we approach the year-end holidays, there is also a spike in online retail as part of the celebrations. This sustained sales season presents retailers more opportunities to engage their audiences.”

“However, they are also faced with a real challenge to differentiate themselves. This could be achieved with the power of data - by being able to identify top selling categories amid millions of products, predict shopping behavior, and integrate online and offline shopping data. With technologies like Criteo Shopper Graph, retailers can ensure accurate cross-device and online/offline targeting. They get to understand their shoppers better in the process and enhance their marketing efforts.”

In-app sales gain significant traction

Consumers in Vietnam shop on mobile just as much as, or even more than, on desktops to take advantage of any deals that may come up.

With higher mobile traction, in-app sales are experiencing significant surges in Vietnam. Singles Day noted a 350 per cent increase in in-app retail sales. Other key shopping events also experienced the same uptake.

Given the momentum from Singles Day for the remainder of the year, retailers who are looking to expand should consider prolonging their promotional efforts until December. This can help drive sales when shoppers have a level of interest due to year-end festivities and are most engaged.

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