Online sellers will see a fourfold sales increase this Singles' Day (11.11.16)

Top Cashback platform ShopBack foresees that the world's biggest online sale on 11.11, which is dubbed as Singles' Day, will bring at least four times increase in sales for its Malaysia's e-commerce sites.

Top Cashback platform ShopBack foresees that the world's biggest online sale on 11.11, which is dubbed as Singles' Day, will bring at least four times increase in sales for its Malaysia's e-commerce sites. 

"According to our recent online shopping survey to 2000 Malaysian respondents, almost 70 per cent of them are aware of Singles' Day, and 90 per cent from those are going to make a purchase," Sharmeen Looi, the Chief Operating Officer for ShopBack Malaysia unveiled.

"We witnessed six times more than usual web traffic directed to our partner's sites on 11.11 last year. That resulted in an average of 400% sales growth. Given the high shopping intention this year, we are confident about hitting 400% gross merchandise value (GMV) growth again together with our partners, led by Alibaba's Taobao, Tmall, and AliExpress," she said.

Awareness for 11.11 among Malaysians
Graph 1: Awareness and online shopping intention for 11.11 are high among Malaysian customers, according to ShopBack's consumer online shopping survey 2016

Shoppers love good bargain and their category preference evolves with age


The survey covered views from top 2000 active online shoppers aged between 18-50 years old. Its findings showed 84% of respondents usually shop in more than one category each time, and most of them are willing to buy something because it is a good bargain.

Price is the no.1 factor when it comes to online shopping, closely followed by availability of Cashback and exclusive deals, as well as fast, affordable shipping.

"Compatible with our previous observation, Electronics, Travel, Home & Living, as well as Health & Beauty remain as the popular categories. Shoppers tend to conduct their own research before spending, and that's the aspect we are working on right now - helping customers make a smarter buying decision by implementing enhanced features on our Cashback platform next year."

"In addition, we also found that the propensity to shop in Health & Beauty, as well as Fashion categories decreases with age. It could be an evolvement of one's focus shift from personal needs to family commitments as he/she grows, as the propensity to purchase in Dining and Home & Living categories rises with age," Looi added.

Top factors for online shopping
Graph 2: Lower price, Cashback and exclusive deals, fast and affordable shipping are top three factors for online shopping

Category preference across age groups
Graph 3: Propensity to shop in Health & Beauty, Fashion categories decreases with age, whereas propensity to shop in Dining, Home & Living categories increases with age

Malaysian shoppers aim to spend more on Singles' Day, Alibaba targets markets outside China


On the shopping expenses, respondents expressed that they have prepared a higher budget for Singles' Day Sales, with 28% of them allocating more than RM300 (11% on usual days) for their shopping trip, 20% allocating RM200-RM299 (15% on usual days), 33% of respondents allocating RM100-RM199 (41% on usual days), and 19% allocating less than RM100 (33% on usual days).

Singles' Day was originally celebrated by singles in China, named after the date 11.11 due to its quadruplet set of lonely 1s. China's e-commerce giant Alibaba group initiated Singles' Day Sales in 2009, throwing massive discounts and encouraging people to buy something in order to make themselves a little happier on that day. It has become the world's biggest online sale with USD 14.3 billion sales recorded last year, way surpassed U.S. Cyber Monday (USD 3.07 billion) and Black Friday (USD 2.74 billion).

Shoppers have allocated higher budget for Singles’ Day purchase

Graph 4: Shoppers have allocated higher budget for Singles’ Day purchase

This year, Alibaba group expects to break its old record, and has lined up a series of events such as online fashion show, augmented reality mobile games, and Katy Perry's performance to cheer shoppers.

It said in an earlier report that the plan is to expand Singles' Day globally, further acquire markets out of China with Hong Kong and Taiwan as the first, subsequently Southeast Asia and the rest of the world .

In Southeast Asia, ShopBack is Taobao's first Cashback partner and both have been working together since 2014 to reward customer with up to 50% Cashback in real, hard cold cash form via its app, mobile, and web platforms. Other than Taobao, e-commerce players like Lazada, Groupon, Qoo10 will also jump on the bandwagon and giveaway Cashback via ShopBack on 11.11. The company has enabled Malaysian shoppers to cash out RM5.4 million thus far, delivering at least seven orders for its partner stores every minute.

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ecInsider News: Online sellers will see a fourfold sales increase this Singles' Day (11.11.16)
Online sellers will see a fourfold sales increase this Singles' Day (11.11.16)
Top Cashback platform ShopBack foresees that the world's biggest online sale on 11.11, which is dubbed as Singles' Day, will bring at least four times increase in sales for its Malaysia's e-commerce sites.
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