What does 9/9, 11/11, 23/11, 12/12 have in common? They are all online shopping festival sales dates started and promoted by e-commerce companies to encourage consumers to buy and spend more online.
It all started from Amazon’s Black Friday Sale, followed by Alibaba’s Singles Day Sale, and subsequently, e-commerce companies started coming up with other dates to host their own online shopping sprees — think 9.9, 12.12 and some even has weekly sales deals!
Alibaba’s Singles Day Sales even managed to keep smashing its own sales record. They recorded S$34.6 billion during the sales last year, cementing it as the biggest shopping event in the world.
And Singaporeans love these bargain – CNA stated that consumers from Singapore formed the seventh biggest group of overseas shoppers in 2015, coming behind bigger spenders from Russia, Hong Kong, United States, Taiwan and Spain.
And we love these sales because it allows us to buy certain necessity at a bargain price.
For example, a recent homeowner can browse and bookmark furnitures in Alibaba’s Tmall and Taobao, and wait for the Singles Day Sales to purchase everything. This way, they can shop at the comfort of their own home and save money at the same time.
But while the sales can help certain group of individuals save money, it also makes a whole lot of people spend more than they normally would.
These companies have engineered ways to gamify the online shopping experience and made deal hunting seem like a treasure hunt.
For example, during most of the sales, the e-commerce platforms will list out some of the popular items and their sales price days or weeks before the actual sales.
This helps the e-commerce platform to get the word out that the sales is coming, and creates hype and a fear-of-missing-out amongst shoppers, which eventually lead to more sales during the actual day.
Lazada even had a online shopping game during the sales that allows people to get products from as low as 99 cents as long as their friends help them to slash the price of the product through their unique referral link.
So, one way to work these sales to your advantage, and not be controlled by your impulses during the sales is to do research beforehand and plan a shopping list of the items you need.
Instead of mindlessly browsing through all the deals, you go into the sales with a clear budget, goal, and only purchase the items on your list.
Besides that, one other way to save more is to look out for credit card partnership that the e-commerce sites have. Often you will be able to enjoy some cash back or in certain cases, earn some air miles!
Now that Lazada’s and Shopee’s 9.9 sales are over, maybe it’s time to start listing down the items you really need and start spotting deals at Alibaba’s Singles Day event!