Timing is everything when it comes to discount strategies and campaigns. Seize the opportunity to generate higher revenue during these online sales days as Australia’s online shopping expenditure grows.
Since COVID-19 restrictions started lifting, the public has regained the freedom to shop at physical stores for their daily necessities and amenities. However, in spite of this return to the pre-pandemic lifestyle, Australians’ heavy reliance on online shopping persists. According to a recent report by Savvy, online retail has increased a total of over AU$3 million since January 2020 and a 73% growth rate has been recorded on a year-to-year basis compared to 2019. This trend of growth in online shopping is set to continue well into the future as more people get used to the immediacy of e-commerce. According to Statista, the e-commerce market in Australia is projected to reach US$35 billion by 2025, signalling significant room for growth in the near future.
Thus, as Australia continues to see enduring growth in online shopping expenditure, e-commerce business owners should be better prepared with strategies that can optimise sales revenue. A good starting point is to consider offering more value-for-money campaigns during peak shopping periods or days. This way, businesses can help existing customers rediscover the brand while drawing new potential followers for their businesses.
For the savvy business owners in Australia, here are some upcoming special sales days to keep a lookout for:
1. Singles’ Day or 11.11 – 11 November
Popularised by Alibaba in 2009, Singles’ Day is a widely popular retail holiday that falls on 11 November. Since its inception, it has become a significant event in China and across Asia. With record revenue brought in during this online sales day, Singles’ Day is the perfect retail holiday for Australian e-commerce businesses to plan marketing campaigns targeting Chinese or Asian shoppers. Join some of the biggest online retailers in Australia in offering irresistible discounts for this growing market and reap the benefits of this sales day.
As evidenced from the data findings of the Chinese Ministry of Commerce, retail sales of Australian brands accounted for 10.2% of the total Cross Border E-Commerce (CBEC) sales in 2019. This indicates a sustained demand from Chinese consumers for Australian goods – exceptionally good news for companies looking to go beyond Australia and initiate global expansion.
2. Black Friday – 25 November
Arguably one of the busiest shopping days in America, Black Friday (held on 25 November in 2022) is the colloquial term for the Friday after Thanksgiving. As it is a month away from Christmas, this day marks the beginning of shopping for the festive season. Traditionally this happens in brick-and-mortar stores, where shoppers can anticipate value-for-dollar discounts across different shopping categories. This experience has now extended to the digital realm with online businesses offering attractive sales during this period.
It is also well adopted in the Australian market, as Black Friday is becoming synonymous with huge sales for e-commerce businesses selling to domestic and overseas consumers. From the National Australia Bank reports on consumer habits during Black Friday 2021, the category of fashion items accounted for a significant portion of the total sales. E-commerce businesses dealing with such items can therefore pre-empt for Black Friday by offering attractive discounts to compel customers to purchase from their store.
3. Cyber Monday – 28 November
In 2022, Cyber Monday will take place on Monday, 28 November, which is shortly after Black Friday. Introduced as a way for e-commerce retailers to capitalise on holiday discounts, Cyber Monday places focus on online sales. This arrangement allows office workers who may not have the free time to queue or shop in-store to check out the items they need in minutes. Furthermore, previews of one day deals online for certain brands are often collated by interest sites, detailing where shoppers can find the best upcoming sales. This system then helps e-commerce businesses in Australia draw traffic organically while increasing overall brand awareness.
Although some businesses may offer sales throughout the past weekend, shoppers are well acclimated to the fact that the best online deals of the day sell out fast – urging them to make their purchases quickly. Thus, it is important to take advantage of this by churning out limited-time discounts and good deals for potential clients.
4. Boxing Day – 26 December
Lastly, while Christmas may be a mainstay for many e-commerce annual calendars, what is often overlooked by e-commerce business owners is the Boxing Day festivities that follow after. Boxing Day falls on the next day after Christmas and is also a public holiday synonymous with sports, comfort food and quality family time. As Australian families prepare to enjoy their holidays outdoors or get ready for the upcoming school terms, businesses selling toys, summer clothing and stationery should make the most out of this momentum to push out their next big sale. Businesses eager to make room for new stock in the new year can provide enticing clearance discounts for shoppers in Australia. As your customers score good deals on big-ticket items, you can also boost your sales just before the year ends.
