What E-tailers can learn from Singles Day and the necessary preparations to make.
Singles Day happens once a year on the 11 November. It started out in China when single students from Nanjing University would get together and hit the shops. This celebration was monetised and made famous by Jack Ma. In 2015, the sale brought in an astonishing record-breaking US$14.3 billion.
This phenomenon online shopping day has spread to the shores of Southeast Asia with other popular marketplaces such as Lazada and Zalora following suit with similar sales events happening on 11.11 and 12.12. Lazada Thailand saw a 300% increase in orders when compared to 2014 after implementing 11.11.
Source: Ecommerce IQ
1) Ensure you have enough human resources
During online promotions such as Singles Day, consumers tend to be ready to shop and this means a massive influx of orders coming through your system in such a short period. Prepare for this spike by hiring temporary staffs to assist with order sorting, packing and ensuring the surge of orders are shipped on time.
2) Increase your delivery options
With the surge of orders during 11.11, it is highly likely that your current logistics provider is unable to handle the sudden volume increase. For your benefit, always ensure your business has a few logistics providers to tap into anytime, so you don’t overwhelm your leading logistics provider. Doing so will prevent any orders from being dropped, delayed or mishandled during the fulfilment process. Such delivery issues bring on unnecessary and time-consuming service recovery that may result in losing customers.
3) Stocktake, stocktake and stocktake
Before 11.11, do take note of what items you currently have in stock and make the necessary replenishments to avoid any stock shortages. It is crucial not to disappoint an eager customer who has the intention of buying. It helps to look at data from the previous months to pinpoint which products are highly sought after.
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