Single’s Day 11/11: millions of products at super-low prices
E-commerce platforms have launched sale promotion programs for Single’s Day November 11, the biggest shopping event of the year, promising big sales on millions of items.
Lazada Vietnam said it is offering twice as many discount vouchers as last year. The e-commerce platform has prepared a demand stimulus program with price discounts of up to 50 percent applied to 10 million products. Tens of thousands of discount vouchers have also been issued.
Shopee has also promised its biggest ever sale program. It has designed Flashsale time with deals at shocking price discounts, including single prices of VND11,000 and VND111,000.
Sendo is running a sale promotion program of its own, offering 11,000 gift boxes at the price of VND1,000, lucky draw for VND11 million prize, and free delivery.
Dien May Xanh has announced price discounts of up to 50 percent. In addition, it also offers additional price discounts of 3-15 percent for online shoppers. Those who pay by e-wallets can enjoy another discount of up to VND700,000.
Aeon Mall has launched a program on ‘hunting’ for vouchers on its app, from 7pm to 9pm on November 5-9.
James Dong, CEO of Lazada Vietnam and Thailand, said the year-end shopping season, which is a much-awaited event, is even more expected this year as people have entered the “new normal” period. This is a great opportunity for retailers to boost sales and for brands to attract clients.
E-commerce platforms all affirmed that their workers have been vaccinated and have had periodic tests (once every three days), strictly observing the 5K principle and non-contact delivery.
Lazada Logistics has set up five more satellite centers in five districts in HCM City, which will help to shorten delivery time.
iPrice has launched a service that helps consumers check prices and find products at the lowest prices. The service will be provided in six countries, including Vietnam.
According to Criteo, November 11 is the biggest shopping event with online retail turnover increasing by 378 percent and the number of product views up by 126 percent compared with the baseline of the respective year.
Large e-commerce platforms in 2020 said they had attracted a high number of visits to their app on November 11. Festivals were live-streamed on platforms which had a record high number of direct viewers on the ‘super-sale day’.
From 0 am to 2 am on November 11, 2020, Lazada recorded that the number of products put into carts was double that of Single’s Day 2019, with 20,000 mobile phones, 3,000 TVs, and 50,000 food vouchers worth 1,000 VND sold in the same time frame.
The Vietnamese e-commerce platform Tiki has received investment capital of US$258 million. It plans to invest in insurance business and conduct an IPO in the US.
Black Friday 2020 is submerging in a gloomy atmosphere as a result of the prolonged tightening wallets driven by COVID-19.