Did you know that flash sales increase overall sales transactions by about an average of 35%? If you’re wondering whether or not flash sales work, these stats make the answer a resounding “yes!”
There’s a unique trait that a flash sale has. It’s the ability to make you buy something you didn’t even know you wanted, just because you don’t want to miss out on the deal. I’m sure we’ve all been in that position before, clicking purchase unless we “miss the deal.”
They might increase sales by doing this, but what else is going on with a flash sale? We’ll dissect the facts and see how and why flash sales work.
What Are Flash Sales?
The first question we should address is what constitutes a flash sale. There are only two requirements for what is considered a flash sale, a discount of over 50% and a short duration.
These factors make up that lethal cocktail, that fear of missing out. It’s the element that will encourage a customer to spend their money.
How Effective Are Flash Sales?
As you already know from the statistic we quoted earlier, flash sales are very effective. The answer to them being effective applies more broadly than you might ever expect. It’s not limited to the number of sales you are driving.
A flash sale can be a tool to confront many different problems you might be having. Let’s take the issue of inventory, for example. You can use a flash sale to immediately cut down on the amount of stock you are carrying.
Finding that you’ve ordered the wrong quantity of items or that you undersold can happen to any business. Sometimes all the signs of a successful product are there, but it fails to deliver. A flash sale is a great tool to recoup any losses in this situation.
Also, if you need a little extra boost to your purchasing power, a flash sale will net you some much-needed capital to fuel it.
Customer Retention on an Ecommerce Website
Part of the success of a flash sale is still going to rely on the quality of your website. If a customer doesn’t like what they see when they arrive, no discount will help you close a sale. Ensure that you’ve got a professional presentation on your site and that it’s easy for the customer to use.
You can check out bitbranding.co if you need some help making any finishing touches or redesigning something eyecatching and efficient from scratch.
Continuing Growing Your Ecommerce Business
Naturally, there’s a lot more to building an ecommerce business than creating a few flash sales. Like any business, they require experience and expertise to run at maximum efficiency, but there are ways to make up for that.
If you’re new to online marketing and the strategies that experts employ to increase sales, then we can help. Advertising and marketing in business are one of the topics we cover here on the blog.
Keep reading for more tips and advice like this, and watch your business grow!
