It doesn’t have to be the core of the value proposition, but artificial scarcity and time urgency are incredibly powerful intermittent reinforcement mechanisms to maintain engagement and keep response rates high. (kitting and assembling) Curated Experiences Remember, it’s not just about stuff. As with flash sales, members will show up more often for one-off “exclusive” experiences — all pivoting around selected lifestyle theme(s) — that take them out of their ordinary lives and make them feel special. (kitting and assembling) For example, DailyLook is doing this incredibly well with hashtag #dailylook on Instagram + Twitter.
We see the concept of flash sales and you’ll know why many companies are using it and how it actually works. Let’s say that you’re hungry and you’re going to a restaurant. You’ll look at the menu and will order only the things you know mostly and will have. (kitting and assembling) Then one day, the restaurant is advertising that there is going to be “Chef’s spl food” for the season.
Some xyz will be food prepared and served only between 7-10pm, on a specific date. They’ll tell it’s surprising, delicious, organic etc characteristics.. It will have limited slots and hence, advance booking will be required and it might open in couple of days from the day it is advertised. By seeing the advertisement, you’ll be tempted to know what’s so spl in it and why is it available only in limited quantities and only at a specific time alone. You’ll get the urge that you should definitely know why and want to try out somehow. You’ll try to go but it would have got over or you couldn’t get it reserved. (kitting and assembling) The curiosity and urge will increase. They’ll again do for the next season. This time you’ll be determined to somehow try it out. Then there are chances where you could have missed it again. The cycle will continue and by chance, somehow you manage to get booked and taste it.. When it happens, you’ll be like you got something which others tried and couldn’t get it.. So you’ll be proud and happy about it. You’ll start boasting about it and this acts as word of mouth publicity for them. Its very powerful and nothing can beat it. Now let’s consider the current situation.
E-Commerce business is booming, Traffic is increasing day by day.. Who are these buyers? (kitting and assembling) Tech savvy and educated customers.. When they publish flash sales with good specifications etc, at lower price (Chinese products). That too advanced registration and limited stock, you’ll try to get it.. But wantedly they won’t sell more units. From the registrations, they’ll try to estimate the demand for their products and ship but less than that.
They artificially create a hype that so many products sold in a minute or so and stocks are no longer available. Those who didn’t get will be disappointed and will try to buy from next flash sales. Word of mouth will spread.. Newspapers will advertise. Create a greater hype.. These products are mostly targeted at the youths.. Particularly college students.. (kitting and assembling) They need cheap and good specs.. They create this irresistible feeling and subliminal perception towards their products..
They’ll create an artificial necessity for it.. Thus ppl fall for it and the company gets good publicity while making huge profits. It’s latest marketing gimmicks played by their Marketing department!!! Some are lucky and some are wantedly made to feel missing out something which others get. Nobody likes that feel and people keep trying for it. This is being exploited by the firms through flash sales. Flash sale is a discount (or it could be a promotion too) offered by an e-commerce website for a limited period of time. (kitting and assembling) It also works great for the inventories that are not being sold because of any reason. This is a good way to drive more and more traffic to your website. The e-merchants have to do a lot of things to make it happen including determining the goal of sale, integrating flash sale module, targeting the customer group, time frame etc. Once the everything is set, all you need to be available at the time of sale. Keep the sale is as simple as possible. Flash sale is only purposeful if they leave the customers with a positive impression of your store. Once everything is set, all you need to be available at the time of sale. You can also visit the Addon store to get this flash sale module.
Flash sales basically sell off surplus stock at lower prices than usual, but they only last for a certain amount of time, often only for one day. (kitting and assembling) A lot of brands use them to sell end of season stock, or to generate interest in something new, or anything they want to increase exposure to. Occasionally some brands do this themselves, and advertise on their own websites, but most use specialist websites that only sell deeply discounted items. (kitting and assembling) Some of the biggest are Gilt , Rue La La and HauteLook, although there are quite a few others. Flash sales (also called Deal of the day or one deal a day) is an ecommerce business model in which a website offers a single product for sale for a period of 24 to 36 hours. Potential customers register as members of the deal-a-day websites and receive online offers and invitations by email or social networks.