Flash sales for your e-commerce brand – are they effective?
The subject of flash sales among e-commerce brands is a debate that splits opinion – both that of the brand, and of digital marketing agencies who look to integrate flash sales in client content strategy.
A flash sale is a sale of goods at greatly reduced prices — but the catch is that it usually only lasts for a few hours. To question whether flash sales are effective is too basic a question that fails to acknowledge the variables at play.
Like any product for sale, it must be adequately promoted and must give consumers a reason to part with their money.
Before any company can question whether flash sales are effective, they must be sure that they have approached it in the right way.
Aiming products at the right people
Let’s take an example. We chose to browse a watchmaking company’s products online. We were in the market for a men’s chronograph watch with a face that would catch the eye.
During our search, we only looked at watches that fit the above description. A couple of days later, when we received an email advertising a flash sale, our pulses were set off at the prospect of getting a deal.
When done badly, flash sales can lose a company customers
To our amazement, the watches that they were offering were aimed at teenage girls. This was an own-goal on the company’s behalf, as not only were we disappointed, but we also bought a watch elsewhere.
This story relates to watches, but it could be applied to anything, from shoes to jewellery to clothing. When armed with the knowledge of consumer habits and the products that they browse, to offer them the complete opposite in a flash sale is a waste of time and money.
Companies are willing to take a financial hit during flash sales in the hope that the sale of a reduced product will lead to further full-price purchases. If this doesn’t work out, they must honestly ask themselves – ‘have we given ourselves the best possible chance?’ Only then can a critical opinion of flash sales be arrived at.