Standing Out Amongst the Crowd to Get a Slice of the E-commerce Pie
How can you stand out amongst the crowd to get a slice of the e-commerce pie? Initially started in China, 11.11, or Singles’ Day, has become the biggest shopping day globally. This year, Alibaba extended the event to an 11 day sales, reaching a GMV of US$74.1 billion, almost 2x that of 2019’s. Closer to home, Southeast Asian e-commerce firm Lazada saw a “record” number of sales, with shoppers taking 35 minutes to chalk up buys surpassing last year’s numbers in the first 2 hours, while Shopee sold 200 million items, a significant increase from last year's 70 million.
While the pandemic has changed shopping habits and moved more sellers and consumers online, the record-breaking sales could also be attributed to consumers repurposing travel budgets, the rise of livestreaming and the increasing number of promotions and cashbacks available.
As e-commerce continues its massive growth, it is also becoming increasingly crowded. While it isn’t difficult to get started, gaining visibility amidst the throngs of competitors and acquiring customers is no easy feat. We have been coined for our ‘out of box’ ideas in helping D2C and D2B businesses transform. Reach out to us for ideas at https://calendly.com/vktconsult/virtual-coffee-catch-up for a chat to find out more about our capabilities.