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Hi there,
You probably came across some online deals on different marketplaces last Sunday. That’s because it was the 8.8 sale day.
In the Covid-19 era, online shoppers often have no time to breathe. There are, after all, flash sales on 8.8, 9.9, 10.10, 11.11, and so on.
Consumers are probably not complaining, though. What do you have to lose if an enticing item is being sold at 50% off?
Since Alibaba’s Singles Day became a thing, flash sales have become staples of online marketplaces in Southeast Asia. Many customers have their eyes glued to their shopping apps days – even weeks – prior to the actual sale event. Some even hold off on making purchases to wait for the upcoming sale.
Which is why the recent proposed rules in India to ban flash sales could be a game changer – not just for online marketplaces and the millions of third-party sellers and brands but also for price-conscious consumers who have grown accustomed to getting the best bargains.
In this week’s big story, we look at how online marketplaces like Lazada and Shopee have become reliant on flash sales. These platforms have succeeded in attracting millions of customers, but with at least one event taking place every month, are they reaching their peak?
— Melissa
THE BIG STORY
When will mega sale events outlive their usefulness?
Image credit: Timmy Loen
Flash sales have been drawing in savvy shoppers to online marketplaces. But what would happen if ecommerce players dropped these events?
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