Commerce media company Criteo has released its '2023 Double Days Preview' report, utilising insights from 2022's retail sales data in a bid to assist brands in maximising sales while delivering an unparalleled customer experience in Southeast Asia (SEA). The key findings of the report point to a prosperous year-end holiday shopping season with tremendous potential for both brands and consumers.
According to the data, Double Days recorded more than double the number of sales compared to the average of the last two weeks of July (from 18 July to 31 July 2022). The report also revealed that Singles' Day emerged as the leading shopping season with an impressive 139% increase in sales, followed by Black Friday which saw a significant 42% growth. Furthermore, new buyers surged by a noteworthy 335% on Singles' Day, underlining the key role of customer acquisition during these pivotal shopping seasons.
The surge in purchases by new buyers was most significant on Singles' Day, increasing by 335%, and slightly less so on Black Friday, increasing by 9% compared to September 2022. Interestingly, over half (51%) of those new buyers from Singles' Day 2022 made additional purchases from the same retailer between December 2022 and May 2023. These findings illuminate the lasting benefits of acquiring new customers during peak events.
Notably, the cogs of consumerism start turning well before these key dates. Criteo urges brands to begin strategizing and planning early to secure a competitive advantage and capture consumer attention, as the report showed that more than a third of Southeast Asian consumers begin contemplating gift purchases as early as Q2 (April to June).
In light of this, the report advises brands to capitalise on these findings as a strategic approach to the peak shopping season. By investing in acquiring new peak season customers, brands can not only boost immediate sales but also establish subsequent customer relationships that resurface beyond the peak shopping season.
The report also highlighted divergent sales patterns between mobile apps and web platforms. During the Double Days events, specific product categories – including apparel, sporting goods, electronics, health and beauty, food, and furniture – consistently recorded higher sales peaks on mobile apps compared to web platforms. This trend can be linked to the inherent advantages of mobile apps, such as seamless access on mobile devices, timely push notifications, and the convenience of quickly accessing wishlists.
"Seasonal sales are a marathon not a sprint," said Taranjeet Singh, Criteo's Managing Director for Enterprise, APAC. Singh highlights the importance of integrating data and technology, supply and demand, and online and offline realms to develop a comprehensive peak shopping season strategy that ensures an unparalleled multi-touchpoints customer journey.