The date November 11 can be anything to anyone from any culture but did you know it is the biggest Ecommerce event in Southeast Asia?
November 11, widely referred to as 11.11, has evolved into becoming the largest, and undoubtedly the most popular online shopping festival in the region. And in this article, we will explain to you why brands should pay attention to it.
What is 11.11?
November 11 originally – and still is – regarded as National Singles Day or Bachelor’s Day, an unofficial holiday in China in the 1990s.
Fast forward to nearly two decades, Alibaba took Singles Day and the phrase ‘Treat Yourself’ to another level through 11.11. The online shopping event in 2009, with only 27 participating brands at that time, was intended to pump sales and traffic into Taobao Mall.
But 11.11 became so successful that eventually in 2020, it surpassed the U.S. Cyber Monday and Black Friday sales – two of the largest sale events in the world.
Alibaba alone posted US$ 74 billion as GMV in November 2020, thanks to 11.11. More so, its Ecommerce platform in Southeast Asia, Lazada, recorded over 350,000 brands that joined the occasion in 2020.
Why is 11.11 Important for Ecommerce in Southeast Asia?
Screenshots of 11.11 Ads by Shopee (left) and Lazada (right)
More than 10 years since the first 11.11 took off, multiple companies, thousands of brands, and dozens of Ecommerce platforms in Southeast Asia leveraged this lucrative event as part of their overall growth strategy.
And here are two major reasons why they joined in the action.
1. Drives Large Volume of Sales
If there’s one obvious thing limited, a promotional event like 11.11 taught brands and marketers is that time means money.
11.11 creates a sense of urgency among potential online shoppers, an effective tactic in deflecting buyer’s hesitancy. Customers are told, and some ways influenced, that special prices and huge discounts they saw on an online shop won’t last long.
With this set on motion for 24-hours, brands participating in 11.11 are expected to see a significant surge in sales.
2. Reach New Customers in a Wide Scale
11.11 is more than just a ‘mega sale day’. In fact, it serves as an opportunity for brands to reach to new customers.
Offering discounts and special prices as part of the 24-hour big event remains one of the most effective way to attract new buyers. And with millions of buyers tuning in and joining, you’re also talking about millions of new buyers for your brand.
Choose Digital 38 for Your Ecommerce Plans in AEC
Ecommerce in Southeast Asia has grown tremendously over the years. The success of 11.11 is not only a testament to it but also serves as a sign that it’s not slowing down anytime soon.
Want to learn more about the Ecommerce landscape in the ASEAN Economic Community (AEC)? Read our previous articles by clicking the links below.
- Doing Cross Border Ecommerce? Here’s Why You Should Choose Southeast Asia
- When in Malaysia: Ecommerce, Marketing Myths & Misconceptions You Should Avoid
- ATC By Digital 38 hosting webinar, ‘Cross Border Ecommerce Opportunities In Vietnam’
But brands should also take note that big online shopping events like 11.11 need well-planned strategies and roadmaps to help their business grow. You need experts from Ecommerce agencies like Digital 38 to guide you in the right direction.
We provide end-to-end Ecommerce solutions to grow your business in the digital space and generate ongoing monthly revenue.
Our Ecommerce solutions range from website development, store management, logistics, CRM, customer loyalty programs, automated email marketing, SEO, marketing tools, product press-release (PR) to reputation management – helping brands like you simplify Ecommerce management.
Contact us today.
#Digital38 #EcomAgency #Ecommerce #11.11 #southeastasia #asiamarketingsimplified