Leading Up to 11.11: Shopee Singapore 9.9 & 10.10 Performance in 2020

Leading Up to 11.11: Shopee Singapore 9.9 & 10.10 Performance in 2020

Written by Aqilah ZailanOctober 13, 2020

Leading Up to 11.11: Shopee Singapore 9.9 & 10.10 Performance in 2020

Sales events are integral to Southeast Asia’s e-commerce landscape. With 11.11 just around the corner, we took a look at how Shopee Singapore performed during 9.9 and 10.10 in 2020 for a clearer picture of what to expect in the next major shopping event.

In the build-up towards Single’s Day on 11th November (11.11), more and more retailers have added 9.9 and 10.10 sales in their promotional calendar to generate interest leading up to the biggest sales event of the year.

Brands and retailers participate in these events as a way to boost market presence and drive sales with discounts. To maximise profit during these sales, retailers must develop a robust assortment and market their products with smart discounting.

As one of the largest e-commerce retailers in Southeast Asia, Shopee Singapore is a mainstay of the 11.11 sale and its opening acts – 9.9 and 10.10. We analysed Shopee’s performance in the fashion segment over the last two sales in 2020 to identify key categories and strategies employed by the retailer.

Let’s take a look.

Shopee Singapore: 9.9 & 10.10 Performance in 2020

Shopee Singapore's trade movement during the 9.9 and 10.10 sales
Shopee Singapore’s trade movement during the 9.9 and 10.10 sales. Source: Omnilytics dashboard

Overall, the 10.10 sale was an improvement from its predecessor. Sell-out rates grew by 13% from the previous 9.9 sale. Shopee Singapore’s upward trajectory in sales is a positive indicator of what’s to come for Single’s Day, when consumer spending typically peaks.

At the same time, Shopee Singapore took things up a notch with a larger fashion assortment and more markdowns. A total of 38,000 womenswear products were available during the 10.10 sale, over 25,000 of which were discounted. In contrast to the 9.9 sale, these numbers inflated by 24% and 28% respectively.

Shopee Singapore has established a momentum with an uplift in sales. By fine-tuning its assortment and discounting strategies based on the performance of previous sales, the retailer could carry its momentum into Single’s Day and do even better.

Top Categories from the 9.9 Sale

The best-selling categories of any retail event reflects the demand at that time. Since coming out of lockdown in June, Singapore has seen rising demand for other categories than quarantine staples. During the 9.9 sale, bags, activewear and shoes surpassed other categories in sell-out rate.

Bags

The overarching comfort and practicality themes still stand in this key womenswear accessory. Bags’ top subcategories from the 9.9 sale were crossbody, shoulder bags and totes.

Shopee Singapore's best-selling bags
Best-selling bags. Source: Omnilytics dashboard

Diving into the bestselling products, consumers also gravitated towards hybrid subcategories with removable straps for more versatility. Minimalist styles in solid, core colours fared better than progressive pieces in brighter hues.

Activewear

Covid-19 got the ball rolling for activewear when lockdowns drove consumers to take up fitness. Home workouts and viral challenges fueled the fitness frenzy, which carried over into current trends.

Shopee Singapore's best-selling activewear
Best-selling activewear. Source: Omnilytics dashboard

Active apparel continued to thrive at the end of the lockdown. Leggings, technical tops and shorts were the key subcategories in activewear. While activewear accessories such as antimicrobial face masks which have seen immediate success in the west, contributions for the subcategory are minimal in Southeast Asia. This is a gap that retailers should race to fill, especially as demand for face masks are still strong.

Shoes

Like bags, the consumers’ choice of footwear was geared towards comfort and practicality. For this reason, formal styles such as heels failed to gain traction during the 9.9 sale, despite a high SKU-count.

Shopee Singapore's best-selling shoes
Best-selling shoes. Source: Omnilytics dashboard

Casual styles such as flats, sandals and sneakers performed best out of other shoe subcategories. Popular patterns and colours also veered on the muted side of the spectrum. 

Top Categories from the 10.10 Sale

As demands rise and consumer preferences change, so too the top categories for the 10.10 sale. 

Dresses

Dresses made up just 7% of the total assortment during the 10.10 sale but were the largest contributor to Shopee’s sell-out performance. Minimal stocks for dresses could be due to the category’s poor performance in the 9.9 sale, which did not show much promise. The surge in demand for dresses signals an opportunity for retailers to keep in mind when planning their assortments for the 11.11 sale.

Best-selling dresses
Best-selling dresses. Source: Omnilytics dashboard

Swing & trapeze, A-line and cami dresses were the bestselling styles. The relaxed fit of these subcategories is in line with the comfort theme in consumer preferences at this time. Bestselling dresses also had the most varied colours compared to other categories, with brighter shades consisting of blue, purple, red, yellow and more. This indicates a stronger demand for colours that retailers can capitalise on when building their colour stories.

Pants & Leggings

Like dresses, there were marginal quantities of pants & leggings at the 10.10 sale – the category only accounted for 1% of the total assortment. That said, pants & leggings also played a huge role in boosting the retailer’s total sell-out rate.

Best-selling pants & leggings
Best-selling pants & leggings. Source: Omnilytics dashboard

Wide leg pants, joggers and cropped pants accumulated the highest sell-out rates in this category. Once again, comfort and transitional qualities prove to be the main priority for consumers as relaxed silhouettes and minimal designs performed well.

Shoes

Shoes maintained its position in the top three categories throughout both sales events. However, we observed changes in key subcategories based on improvements in sell-out.

Trade analysis for shoe subcategories
Trade analysis for shoe subcategories. Source: Omnilytics dashboard

During the 10.10 sale, demand shifted towards formal styles. Heels recorded the highest total sell-out rate within the category, while wedges and pumps exceeded others in full price sales. This shows how quickly demands can evolve in just a month at a subcategory level, prompting retailers to adjust their tactics swiftly.

From these irregular spending patterns, it’s clear that consumer demand is still volatile and subjected to quick changes. Retailers should constantly monitor these shifts to optimise sales events and market the right products to drive profit.

Discount Analysis

Shopee Singapore amped up its discount volume with each event as interest builds towards Single’s Day. Shopee discounted 54% of its womenswear assortment. The retailer went further for 10.10 by setting 66% of its products on markdown. While Shopee had a vast assortment of discounted products, the retailer strayed from deep discounting. The average discount percentage was 37% during both retail events.

Discount breakdown during 9.9 and 10.10
Discount breakdown during 9.9 and 10.10. Source: Omnilytics dashboard

Shopee Singapore invested most heavily in the 20-29% and 50-59% discount range, which generated high sell-outs. The 40-49% bracket was also effective at driving sales – its sell-out rate exceeded the total product count. This is a key learning for 11.11, as retailers could discount products at this percentage to replicate the same sell-out performance.

Instead of resorting to deep discounting, Shopee opted for tactical markdowns by optimising its assortment based on performing subcategories.

Shopee Singapore's tactical markdown strategy
Shopee Singapore’s tactical markdown strategy. Source: Omnilytics dashboard

Let’s take an example from Shopee’s discounting strategy for its shoes category. Sneakers have been generating more traction amid the rise of comfort attire, leaving heels as a slow-mover. Shopee combated this by employing deeper discounts for heels to drive conversions. The 50-59% discount range had the highest contribution for heels, a much more aggressive approach than sneakers, which were mostly discounted between 10-19%.

As previously mentioned, heels achieved the highest sell-out rate during the 10.10 sale. This speaks volumes on the effectiveness of a tactical markdown strategy in boosting sales for slow-moving products. Monitoring category performance closely is a critical step in the planning process to improve the efficiency of tactical markdowns.

How to Approach 11.11

All signs point to the 11:11 sale topping its counterparts in terms of sell-out rate and discounting volume. Single’s Day is the biggest retail event in the world with more brands participating in it compared to the 9.9 or 10.10 sale. The competition is expected to be higher for this reason. Coupled with a saturated online landscape amid the pandemic, retailers will be seizing every advantage they can get to outdo their competitors.

As shown by the different outcomes of Shopee Singapore’s sales events, consumer preferences are still finicky and demand can turn on a dime. Retailers taking part in Single’s Day this year must carefully prepare for it with these key steps:

  • Plan the right assortment by identifying and validating trends in the market.
  • Monitor competitors’ performance to spot opportunities and risks.
  • Identify an effective markdown strategy by analysing sell-out performance of discount ranges.

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