Criteo examines sales on Singles Day

Source: Criteo infographic. 2016 figures for sales uplift by product category in the period around November 11.

Criteo, the commerce marketing technology company, has observed that:

In Southeast Asia: 

There was a 3x+ increase in sales on November 11 this year – a 337% increase

• Online sales were 2.4x that of Singles Day 2016 – an increase of 140%
• The totality of all online engagements (browsing, searching, purchasing) was 3x that of 2016 – an increase of 200%
• Three-quarters of all transactions was made on mobile – a 32% increase from 2016
• Half of all transactions were made through apps – a 26% increase from last year (editor's note: apps provided bigger discounts)

In Singapore:

• Online sales on November 11 were 1.6x that of Singles Day 2016 – an increase of 60%
• The totality of all online engagements (browsing, searching, and purchasing) was 2.4x that of 2016 – an increase of 135%
• Half of all transactions were made on mobile – a 17% increase from 2016
• A third (32%) of all transactions were made through apps – an 8% increase from last year

On November 8 Criteo said that there was typically a 3x increase in sales on Singles Day, November 11, with shoppers browsing online up to four days earlier and pointed out that it is a major opportunity for both shoppers and retailers.

Based on an analysis of more than 5.1 million online transactions made in Southeast Asia in 2016 (from 1 October to 31 December 2016), Singles Day saw an upsurge in average visitors on key Southeast Asian retailers’ websites, and marks the start of the year-end shopping season.

“We are seeing rapid year-on-year growth for Singles Day. To effectively engage with shoppers during this sales season, retailers need to place the shopper at the centre of everything by putting data into action at every point of the purchase journey. They must tap into an open commerce marketing ecosystem and use machine learning to connect shoppers to the products they need and love, and also engage with them at the right time. By doing so, shoppers will be able to purchase what they want at the best value, which drives increased sales for retailers,” said Alban Villani, GM, Southeast Asia, Hong Kong and Taiwan, Criteo.

Other key findings from Criteo’s analysis included:

- Retail sales peaked on 11 November, with a 254% percent increase in 2016.

- Between 9 and 12 November, there was a rise of 28% in average online traffic on key retail companies’ websites. This peaked on 11 November, with an increase of 59%.

- Shoppers are starting to purchase as early as 7 November, with a 29% increase in sales. The momentum continues with an average of 65% increase in sales through to 31 December (editor's note: some brands are beginning their Singles Day offers before November 11, while for others Singles Day offers remain valid a couple of days after the 11th).

Criteo said that on Singles Day, shoppers will browse and shop online all through the day, with sales peaking from 10am to midnight Singapore time. In 2016 most retail categories saw an increase in sales – fashion and electronics top the list, with an increase of 183% and 151% respectively. Fashion is the top grossing category, while health and beauty products remain the top sales category. Shoppers will also purchase higher-value products during this period. The average order value between 10-12 November increased an average of 14% last year.

Beyond the mobile web, more shoppers are increasingly making their purchase via apps. Apps account for 49% of all transactions and 73% of mobile transactions, for retailers who generate sales on all environments. More than ever, apps will be the place to be for shoppers and are a crucial touchpoint on shoppers’ paths to purchase. To ensure that they are able to reach shoppers during this period, retailers need to invest in mobile app optimisation and targeted marketing strategies to enhance mobile shopper engagement and increase sales.

“Shoppers will continue to demand a seamless omnichannel experience. Retailers need a strategy that optimises the use of offline and online data, and also pay attention to the growing trend of mobile and app use. Criteo’s technology allows brands to engage shoppers with relevant experiences on both retail apps and third-party platforms, thereby directly driving sales and profits,” Villani added.

Explore:

Browse Criteo’s analysis of shopping behaviour during Singles Day 2016 in the complete infographic.