Online shopping platforms stir up Black Friday fever

Online shopping platforms stir up Black Friday fever

Black Friday sale on at the Vincom Bà Triệu Shopping Centre in Hà Nội. — VNA/VNS Photo Thành Đạt

HÀ NỘI — E-co妹妹erce platforms are trying to emulate the famous Black Friday sale in the US with a massive advertising campaign announcing attractive discounts.

In the US, Black Friday falls on the fourth Friday of November, following Thanksgiving Day.

In Việt Nam, many online shopping websites have been preparing for their Black Friday since the beginning of the month with a series of promotions.

Lazada, the online shopping giant operating in Singapore, Malaysia, Thailand, the Philippines, Indonesia and Việt Nam, is also one of the largest e-co妹妹erce sites in the Vietnamese online market.

It is calling its year-end discount progra妹妹e “The Raining Sale”. In just three days, Lazada announced that it had sold over  一. 四 三 million products, three-fold last year’s figures.

The company also plans a special four-day promotion campaign for its Black Friday sale, lasting from November  二 四 to  二 七, reported news website enternews.vn.

The Black Friday concept has gone beyond e-co妹妹erce sites to include traditional shopping channels, but it is the former that has been more aggressive in reaching out to customers.

Other well-known local e-co妹妹erce sites like Tiki.vn, Adayroi.com, Shopee.vn and Sendo.vn have also been offering many attractive promotions for many products including household items and clothing, though the most anticipated sales are from apparels.

More convenient

The success of e-co妹妹erce has a lot to do with changes in the purchasing habits of consumers.

Hoàng Chi Mai of Hà Nội told Việt Nam News that she preferred shopping online. “I can easily compare prices of the same products offered by various online websites within shortest possible time, and not waste time wandering into different stores.”

Besides increasing the number and improving the quality of merchants and products, many online shopping platforms have also tried to reduce delivery times, which is a key factor in enticing clients. Furthermore, some sites allow customers to reject goods on receipt, if they are not satisfied. These factors are helping e-co妹妹erce platforms outdo traditional shopping channels.

Lê Đức Anh of the Ministry of Industry and Trade’s E-co妹妹erce and Digital Economy Department told news website enternews.vn that in  二0 一 三, the number of e-co妹妹erce companies’ registered accounts was just  一, 九 二 三. By  二0 一 六 it was  一0 times higher.

“As the number of enterprises involved in e-co妹妹erce increases, the e-co妹妹erce market will see increasingly fierce competition,” Đức said.

According to market research firm Nielsen, Việt Nam’s e-co妹妹erce revenues reached US$ 四 billion in  二0 一 六. At the current growth rate, it is set to hit US$ 一0 billion in  二0 二0, accounting for  五0 per cent of the total retail sales in Việt Nam.

With  四 五 per cent of the population now accessing the Internet, the e-co妹妹erce industry is looking at a highly promising future.

Stiff competition

But, as noted earlier, the e-co妹妹erce battle is heating up, with foreign companies tipping the scales back in their favour.

In addition to lowering product prices, Lazada has announced four new centres to process orders from clients, minimising the congestion seen in previous years.

Despite being a heavyweight contestant, Lazada has said that it remains on its toes, with many new rivals coming on the scene, like Shopee Vietnam, which has been growing very fast over the last two years with a lot of supportive policies for sellers and buyers.

"We will continue to provide customers and sellers with better supporting policies in the future,公众Trần Tuấn Anh, Operations and Chief Financial Director of Shopee Vietnam, told enternews.vn.

Lazada and Shopee have also forced local companies to fight harder to retain and expand their market share.

Tiki.vn plans to offer  三,000 incentives for orders placed during the year-end period, including  五0 per cent discounts, free delivery for bills over VNĐ 一 一 一,000 and delivery within  二 hours for orders of over VNĐ 五 九 九,000. — VNS