Flash Sale is no longer a strange name in business (online + offline), despite its recent appearance in Vietnam. The Flash Sale program provides unanticipated benefits to merchants and connected e-commerce platforms in addition to providing appealing discounts to customers. The following post will outline five advantages of holding a Flash Sale.
5 Benefits of Flash Sale for brands/sellers
- Attract traffic
This is the first purpose of the business when opening the Flash Sale program. With the condition that the product price is reduced for only a short time, this has impacted customer psychology.
When the product they love for so long is on sale "on the floor" in just a short period of time, customers will buy it immediately without hesitation because they are afraid of the products running "out of stock".
- Free Marketing
Even if a customer does not need the product, opening for sale in a short period of time creates a "movement" of hunting sales. Customers who are on the lookout for bargains will tell their coworkers, friends, and relatives about them.
This is often referred to as "Free Marketing." And if your product is good, there's no reason why customers won't return to support your business.
- Increase sales revenue
The seller's sales can rapidly increase in a short period of time. A profit will be made to compensate for the amount of discount that the business has sold with a large number of products sold. That is also why Flash Sales never cause businesses to lose money.
- Inventory Management
Every discount program in general, and Flash Sale in particular, has the potential to address a seller's inventory problem. Many items are on the verge of obsolescence, and sellers can sell at floor pricing, even at a loss, to clear inventory and recoup original capital without incurring any penalties. These things are also utilized as "bait" products, luring people into the store for upselling.
- Expand your brand
In addition to raising sales, a Flash sale provides a chance to expertly and long-term market the brand. Flash Sales, especially for new product lines and brands, will assist businesses both drive client purchasing demands and market the brand effectively.
Flash Sale, in addition to the five benefits for sellers/retailers, provides some light to e-commerce platforms. When compared to weekdays, e-commerce site retail sales surged by 250 percent to 300 percent during the Flash Sale promotion; traffic jumped by 70 percent. When there are demand-stimulating discount programs, the biggest rise in traffic occurs.
With such outstanding figures, it's impossible to pass up the chance to collaborate between e-commerce and retail firms. As a result, the Flash Sale program draws a significant number of big partners to collaborate, including brands and merchants on both large and small sizes.
The Flash Sale concept will provide several advantages to sellers and enterprises. This approach not only helps improve sales, but also helps raise customer knowledge of the brand and encourages customers to look at other goods in the seller's inventory.