Incorporate discounts, scarcity management, and virtual tech to imitate big event sales

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 16, 2021, 5:19 PM GMT+0

Offer vouchers for high-ticket items online during significant sale events to compensate for the lack of inventory and boost digital purchases.

Businesses that want to translate the success of major physical-store sales events like Black Friday into digital must understand how customers behave during such events. While online offers can be tempting, they lack the same level of engagement as in-store purchases due to variables like "doorbusters," "scarcity management," and "browsing".

Big sales events offer highly publicised bargains and are often sold at a loss, known as "doorbusters," to attract customers in-stores while allowing retailers to profit from impulse purchases. Online retailers should display highly discounted items like TV sets or gaming devices alongside higher-margin sales items to stimulate a similar impact.

Ecommerce retailers must clearly state that the stock for doorbuster items is limited to create the same scarcity impact as big sale events. Implementing a virtual queue system enables brands to add consumers to buying lists for limited stock items in real-time. Developing virtual Black Friday events and interactive 3D products, similar to brick-and-mortar stores, can help online brands persuade passive browsing consumers.

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