Sean Sherwin-Smith, Post-Purchase Product Director
There’s a month to go before the first key event in the peak season calendar, Singles Day (11 November).
Established in China 30 years ago, it’s now the world’s largest shopping event.
For years, it was little talked about outside Asia. However, retailers across Europe have recently registered sharp increases in Singles Day sales as customers, often from China, seek out the best offers.
According to one study, sales increased in Italy by 80%, in France by 57%, in Germany by 35%, and in the UK by 22%. Overall, revenues for Singles Day in 2022 reached nearly $130 billion – ten times more than Amazon’s global sales for Black Friday.
Cashing in on Singles Day sales
To make the most of the peak season, including Singles Day, retailers should think about:
- Offering a choice of delivery options – with retailers now able to serve a global customer base, it is important they give customers delivery choices so they can choose the best option for them
- Eliminating shipping delays by automating key processes such as carrier book and print, and customs documentation. 94% of cross-border shippers have experienced delays at borders due to incorrect item classification and documentation
- Building customer engagement during post-purchase phase – retailers can reduce “where is my order” calls by 60%, and at the same time open new marketing conversations with customers, with a slick, branded tracking experience
- Developing a clear returns strategy. Customers expect simple, flexible returns But terms that are too lenient can be a silent profit eater for retailers. The right returns platforms enable retailers to tailor the experience to different groups of customers – for example, offering easy exchanges to many, but speedy refunds to the most loyal, valuable customers
A compelling post-purchase experience
Singles Day offers retailers an opportunity to build their brands in new markets and reach millions of new customers.
Customers who will be expecting a compelling post-purchase experience. Retailers which can fulfil all expectations will be rewarded with increased sales and sustained customer loyalty.
For more information, visit the nShift Peak 2023 and Black Friday information hub.