What is a Flash sale?
Flash sales are discounts or promos an online retailer provides for a limited time. The quantity is restricted, and, in most cases, discounts are greater or greater than regular promotions. The limited time frame and availability can entice people to buy at the moment and buy on the spot – or impulse purchasing.
While every e-commerce site could benefit from flash sales to form a promotional marketing strategy, certain companies have entire business models that rely on flash sales. Zulily is one example. It is a flash sale site that targets busy moms and offers items such as baby clothing and accessories at drastically reduced prices for a brief duration.
Benefits of Flash Sale
Numerous companies rely on the latest deals to boost sales and increase visibility. But they could benefit your business’s growth more than you imagine. Flash sales help you:
- Guarantee leads convert. Hosting flash sales on your website is an effective method of attracting new customers. Prospects often browse sites for interesting deals before the time of the year. They can add a few items to their carts but not buy them unless they have a real necessity. A limited selection of offers helps shoppers make purchases quickly.
- Enhance your brand’s visibility. The urgency that turns your customers into visitors is also a factor on social media. When people discover an appealing deal from your company and then become your clients are eager to share it with their acquaintances and family members. They may also post news about your offer through their social media profiles.
- Increase loyal customers. A big discount on various products is an excellent opportunity to reward your existing customers and allow them to purchase your brand’s products at a reduced price. After experimenting with your products and determining that they’re top-quality, customers are more likely to purchase from your company.
- Market items that aren’t popular. You can quickly sell items that are not popular with customers and allow room for new products. You can also sell off special or seasonal items and recoup some initial costs.
- Enhance revenues. According to Social Marketing, Fella Deals of the day result in an average 35% increase in transactions. The sales that are short-lived make customers purchase fast and place bigger orders than they would normally. This increases sales within a matter of minutes. In the end, your profits increase. If you want to increase your revenue rapidly Deals of every day are coming to your rescue.
How do you run an effective flash sales
1. Goal of your Flash Sale
The most important aspect of a successful flash sale is understanding the goals you want to achieve. Flash sales can be utilized to meet a range of objectives such as:
- Cleaning out seasonal surplus inventory after the holidays.
- Inviting new customers to visit your shop.
- Inspiring the sale of high-demand items.
- Build the loyalty of your customers by making your flash sale accessible only to customers already in your database.
- Regaining inactive customers from customers who have left.
- Collecting email addresses and customer information for future marketing/promotional opportunities.
2. Select the product according to your needs
If you decide which product(s) you will use for the flash sales, you must ensure that your choice is compatible with your target market and goals. For example, while it may be tempting to hold the sale on an older item you’d like to dispose of; however, you should ensure that your offering offers value for the purchaser and encourages your targeted customers to participate in the sale.
3. Choose the best time for your sales
Flash sales usually last for a brief period; however, it’s your company’s responsibility to determine what will work best for your company’s strategy and products.
The smaller the flash sale you run, the less likely you are to cause FOMO (Fear of Not Being able to Attend) among shoppers on the internet. A study conducted by Experian Marketing found that 3-hour flash sales had an email opening rate that was 59 % more than typical. However, if your flash sale is too brief, it won’t have enough time for prospective customers to view your marketing emails or social media posts to finish their purchase.
4. Promote the sale before the time.
The idea of launching a flash sale is similar to dropping a new tune. You need to create a buzz within your existing customer base before the date and bring people to go your website immediately after the sale is live. You can use social media and marketing via email to inform your customers an idea that a special offer is on the way.
5. Check inventory
Most items sold on flash sales sell out more quickly than expected. Imagine how thrilled customers would feel when they see your advertising and then find out that the item they’re interested in is not in inventory. They’ll likely be dissatisfied. It’s not a good idea to be able to sell products from the flash sale too soon.
Use a third-party logistics (3PL) firm that provides the ability to manage inventory tools to keep track of inventory levels throughout the day when the auction is completed. Logistics companies such as ShipBob provide transparency into the status of your inventory in real-time. It lets you monitor the stock available at its fulfillment centers. It will notify you when the inventory is at a low point, or you require to replenish your stock. It’s an easy method to prepare your flash sale to be successful.
6. Create the necessary logistics
Once you’ve established your goals and the products you’re looking to purchase, choose the length of the flash sale’s promotion will be.
For instance, if you’re trying to draw customers who haven’t bought anything within six months, you can run an exclusive flash sale of two days just for this particular segment.
Try different timings (e.g., 24 hours instead of. 72 hours) to determine the best timeframe for your company.
5 Examples of Great Flash Sales
National Geographic has been a time-tested source for information, education, and adventure in everything outdoors.
This sale is in conjunction with its Sale on Black Saturday and provides substantial discounts, including an opportunity to call for their special GENO 2.0 DNA Kit. This move is a smart way to ensure that the brand’s message is reaching customers who did not shop at the Black Friday sale or who may still be looking for gifts.
Macy’s goes one step higher than Scout & Co. Rather than offering a discount for one brand in its assortment, the department store giant has multiple day-long flash sales with a different category of products each day.
This email for a flash sale from the undergarment company, MeUndies, is a perfect example of how to make all the information in the sales brief easy to understand.
The gif clearly communicates to the customer the purpose of the email and the copy that follows states that they have only the time of 48 hours to get 20% off everything. The sale, however, is only offered to new customers. This is clearly stated under the small print underneath the button.
Rug seller, Rugs USA, combines the clarity and urgency of this sale email.
The retailer also has an option beneath”the “Flash Sale!” text which makes it simple for shoppers to shop. A counter under the button, along with the simple “These deals end in” text, creates an element of urgency only found in flash sales.
Flash sales don’t require just an immediate discount in monetary value. Starbucks offers a unique offer whereby customers can get double the amount of stars when they purchase with their loyalty plan for a single day only. In contrast to the flash sale that is targeted to one specific item, it is aimed to increase traffic and sales all over the place. If you’re running an existing reward or loyalty program that your clients are part of, you might consider making an alternative flash sale that uses points and rewards as an incentive.
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