Singapore: Performance Overview
Singles’ Day Supremacy
Singles’ Day solidified its reputation as a major shopping festival in SEA as sell-out performance for its fashion products surpassed that of 9.9 and 10.10 events.
Despite the economic uncertainty brought by the pandemic, 11.11 registered 136% and 283% more sell-out than on 9.9 and 10.10 respectively. The number of discounted products was nearly 2x higher than on 9.9. Consumers were lured by the hype around Singles’ Day as the average discount was the shallowest, albeit by 2 percentage point compared with 9.9.
Campaign Success with Phua Chu Kang
This year, Shopee held its 11.11 Big Sale campaign just a day earlier than last year, for the same duration of three weeks. With over 260% more discounted products this year, sell-out grew in tandem by 372%.
The appointment of Phua Chu Kang as Shopee’s brand ambassador deepened its engagement with local audiences. The cultural icon worked on various initiatives with the brand to connect with Singaporeans. Aside from his exclusive appearances on Shopee Live, shoppers saw the return of special themed days packed with three weeks of exclusive deals and contests.
The spike in sell-out on November 6 proved that consumers were bargain-hunters, as they took advantage of multiple voucher redemptions on ‘Vouchers Day’, alongside bank coupons and cashback promotions. Shoppers could also place SGD 1 deposit from November 6-10 to enjoy vouchers worth up to SGD 150.