Singles’ Day sales surge: Criteo insights for sales success
New data from Criteo reveals top insights from 2023 Singles’ Day, showing that early and late hours are peak times for sales, especially in Southeast Asia and Greater China.
Singles' Day has evolved into a monumental sales opportunity for retailers worldwide, especially in Southeast Asia and Greater China. According to recent 2023 data from Criteo, a leading commerce media company, focusing on Singles' Day peak shopping hours—the early morning and late-night time frames—can significantly boost sales, transactions, and customer engagement.
Criteo analysis key findings
Criteo's analysis of the 2023 Singles' Day data shows the critical role of timing in driving sales conversions. This report highlights that shopping activities on Singles' Day in Southeast Asia soared by 140% in online retail transactions and 178% in unit sales compared to the first week of October. Greater China witnessed even higher spikes, with transactions jumping 237% and unit sales up by 257%. These findings emphasize that Singles’ Day remains the most substantial sales event, outpacing Black Friday in sales metrics across the region.
Singles’ Day shopper behavior indicates a surge during the first (12 AM - 1 AM) and final (11 PM - 12 AM) hours of the day. In Southeast Asia, the first hour showed a 325% increase in online transactions and a 370% boost in unit sales, while Greater China saw the highest numbers in the day’s final hour, with transactions up 345% and unit sales up 363%. These peak times provide retailers with an opportunity to deploy targeted flash discounts and advertisements to convert both early bird and last-minute shoppers.
The top-performing product categories on Singles' Day in 2023 revealed a substantial growth trend in various consumer interests. In Southeast Asia, categories like Baby & Toddler items, Health & Beauty, and Furniture recorded the highest growth, with Baby & Toddler items showing an impressive 407% increase. Greater China saw Health & Beauty, Home & Garden, and Luggage & Bags top the list, indicating a high potential for retailers to capture consumer interest by emphasizing these product categories in their sales strategies.
Singles' Day provides a unique opportunity not only for increased sales but also for attracting first-time buyers. Although new buyer numbers decreased slightly in 2023, Southeast Asia still saw a 63% increase in new shoppers compared to October, showing a clear chance for brands to establish loyalty among these new customers. Engaging retail media solutions, such as sponsored products and offsite campaigns, can help retailers enhance brand recall and create lasting connections with these new buyers.
Key strategies and tools for Singles’ Day success
Retailers can maximize Singles' Day by adopting strategic measures:
1. Start early
Prepare ads and promotions well in advance, as many shoppers begin planning their purchases before the event.
Recommended tools:
Use Google Analytics to study historical data and shopper behavior from previous years. This can help marketers identify peak times and products that performed well, allowing for data-driven decisions as they prepare early campaigns and promotions.
Canva Pro enables teams to quickly design and schedule campaign assets across multiple platforms well in advance. Its user-friendly templates allow marketers to efficiently create ads, banners, and social media posts that align with Singles' Day themes, ensuring consistent branding.
Monday.com offers robust project management capabilities, making it easy for teams to organize and execute marketing plans. With task assignments, timelines, and workflow automation, teams can ensure campaigns are completed on time for an early start to Singles' Day promotions.
2. Focus on full-funnel marketing
Integrate sponsored product ads, in-store promotions, and offsite campaigns to capture new and returning customers at every stage of their shopping journey.
Recommended tools:
HubSpot Marketing Hub is perfect for managing every stage of the customer journey. From lead capture forms and automated emails to in-store campaigns, HubSpot supports full-funnel engagement with seamless integration across channels.
With its multi-channel capabilities, Salesforce Marketing Cloud helps brands create and manage unified experiences. This tool supports everything from personalized emails to SMS marketing, allowing retailers to stay connected with consumers at all stages.
Sprinklr’s Customer Experience Management Platform allows brands to connect with audiences across social, web, and mobile channels. Its full-funnel approach supports audience targeting, engagement, and retargeting efforts, enhancing customer loyalty and improving reach on Singles’ Day.
3. Optimize for peak hours
Allocate budget and advertising efforts to the first and final hours of Singles' Day to make the most of these high-traffic times.
Recommended tools:
AdRoll enables marketers to schedule retargeting ads for peak Singles’ Day shopping hours. The platform’s scheduling and automation tools allow precise control over ad spend, ensuring high visibility during early and late-hour shopping surges.
Facebook Ads Manager provides granular control over ad timing, budget, and targeting. Retailers can use this platform to run time-sensitive ads, reaching early bird and last-minute shoppers with strategic bids and audience segmentation.
With Google Ads’ advanced scheduling and bidding options, marketers can optimize ad placement for peak shopping hours. Google Ads’ automation allows advertisers to focus budgets on high-impact times, such as the first and last hours of Singles’ Day, to capture more sales.
With these tactics, retailers and brands can make the most of Singles’ Day, reaching key audiences and maximizing their impact during one of the busiest shopping days of the year.
By preparing campaigns early and using full-funnel marketing to engage consumers across multiple touchpoints, retailers not only stand to increase their Singles’ Day sales but also build lasting customer relationships that extend into the holiday season.
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