By Leslie See, Commerce Director, Media, dentsu Singapore
SINGAPORE – Double-digit days, such as 10/10, 11/11, and 12/12, have become major retail events that are now global shopping holidays. Inspired by the success of China’s Single’s Day and with the rise of e-commerce, these sales days have grown in scale and influence, blending consumer culture, technology, and marketing.
The psychology of digital holidays: Excitement, savings, and the thrill of time limited offers
Double-digit sales days have now become “digital holidays” to look forward to, tapping into the psychological appeal of traditional holidays like Lunar New Year, where celebration and togetherness are linked to happiness. This atmosphere can heighten positive emotions and encourage spending as a form of participation.
The idea of celebration creates a heightened sense of joy, which can lower rational restraint, making consumers more likely to buy impulsively. These sales captivate consumers, largely because they promise excitement, savings, and the thrill of time-limited offers.
Importantly, the double-digit day shopping phenomenon has reshaped consumer behaviour and expectations and marked a shift in the e-commerce experience sharply since 2020, where the Covid-19 pandemic restrictions led consumers to shop online more than ever, and to make purchases with money that they would have otherwise spent abroad. Indeed, Alibaba reported that its Single’s Day 2020 generated US$74.1 billion in gross merchandise volume (GMV) from November 1 to 11, an increase of 26% compared to the same period in 2019.1
Beyond discounts, consumers seek unique shopping experiences that also offer convenience and a tailored suite of offerings. With a myriad of options to choose from as more retailers jump into the shopping frenzy, consumers have also become savvier and more price-conscious.
Strategies to drive sales and engagement for double-digit days
Retailers looking to boost sales and attract new customers while retaining loyal shoppers have had to evolve to be able to take advantage of, and make the most of these retail events, during which consumers exhibit distinctly unique shopping traits.
In the lead-up to double-digit sales days, retailers boost their marketing efforts through:
- Staying top-of-mind for consumers daily
Retailers offer daily platform vouchers from up to two weeks leading up to the sales day. Consumers can collect them through flash deals, app logins, or gamified activities, and they usually stack with other discounts during checkout.
- Partnerships with bank reward programs and cashback apps
These provide an additional layer of incentives on top of one’s purchases, and can come in the form of cashback, rebate percentages, or extra discounts when the selected payment methods are used. Stacking these promotions with platform vouchers can significantly reduce the overall cost of purchases.
- Live selling
Brands are now looking to forge authentic connections through live selling.
During these livestreams, consumers can enjoy exclusive product drops, time-limited discounts, and even participate in interactive games or giveaways. Live selling creates a sense of urgency and excitement, making it a great opportunity to snag deals on items that might not be discounted elsewhere.
Considering the planet beyond profits
The success of the double-digit day phenomenon is without a doubt the result of retailers breaking the code of the shopper’s psyche. Everything from understanding how consumers prepare, what they buy, where they search, and how they shop, have allowed retailers and marketers to maximise sales through unrestrained and irrational buying during these events.
When caught up in the thrill of sales and time-limited offers, consumers may end up purchasing items they do not need, items to hoard, and pursuing social status symbols attached to products to enhance their sense of identity, now at a lower cost.
The positive emotions associated with “digital holidays”, strong marketing push, and time-limited offers have accelerated overconsumption to levels never seen before, which increasingly puts weight on an already stressed global environmental and climate crisis.
While consumption is crucial to overall economic growth, governments and businesses have a critical role and greater responsibility in encouraging a consumption cycle that is sustainable.
To minimise waste and extend the life of products and materials, governments can introduce policies to mandate recycling, the use of clean energy and sustainable materials, and provide incentives to support local businesses.
Businesses themselves can also find innovative ways to be a force for good, such as in The Cupboard to Fight Food Waste, a sustainable consumption campaign conceptualised by Dentsu Creative Thailand for Gourmet Market. Within Gourmet Market’s app, a function was developed to alert customers when the produce they had purchased was about to expire, going beyond raising awareness to actually reduce food waste.
Being conscientious consumers
As consumers become more eco-conscious, they too can play a part in sustainable shopping while putting pressure on businesses to adopt sustainable practices in supply chain, sourcing, and marketing.
- Researching eco-friendly brands and products
By supporting brands that are committed to sustainability and ethical labor practices, consumers contribute to a demand for greener manufacturing methods and more responsible business practices.
- Choosing quality over quantity
Purchasing items that will last longer will reduce the need for frequent replacements and help to save money in the long run.
- Supporting local sellers
In the purchase process, local products often require shorter transportation distances and less packaging, which helps to reduce the carbon footprint associated with shipping and logistics. Local purchases also support the community’s economy and encourage sustainable business practices.
1 The Drum, Single’s Day 2020: How much did brands earn from e-commerce players?
