Diwali is the biggest festival in India celebrated by millions in the country. It is a time to celebrate with family and friends. This celebration also calls for a great commercial opportunity for millions of businesses as people tend to buy new products for their homes and gifting purposes.
The luster of Diwali extends to eCommerce as well when marketplace giants such as Flipkart and Amazon launch their bumper festival shopping sale which starts 3 to 4 weeks before Diwali. Demand usually peaks in the 30 days leading to Diwali when billions of products are sold in merely a week or so. The ‘Big Billion Day’ sale by Flipkart and ‘The Great Indian Shopping Festival’ by Amazon is the Biggest Sale of the Year for both the marketplaces.
“Ecommerce companies led the way in the first week of online festival sales in October, with 23% YoY sales growth in 2021. According to RedSeer Consulting, this spells out to US$4.6 billion (INR32,000 crore) worth of goods sold online, Flipkart leading with a 64% market share.”
To help you win at the mega sale events this year, PiWheel experts who are responsible for over 100 brands generating a 100x+ ROI are sharing 6 tips to help you win the Diwali season market share. Here you go:
Brands should focus on grabbing the top 10 search rankings as most shoppers do not scroll past this point. PiWheel’s advertising platform gives access to the top keywords for any category. Once you have that in hand, incorporate those keywords into your product pages.
During the mega sale events, the bid rates will be significantly higher compared with BAU (Business as Usual) days. Thus, it can lead to a quick drain on your margin.
Taking judicious calls on spending money on high-quality and best-value proposition SKUs is extremely important. Don’t be afraid to change strategy based on responses.
Key search terms will also pivot your paid strategy. CPC can be expensive so make sure your strategy is based on data.
Use PiWheel’s Competitive Intelligence Tool to get insights on market share, price trends, keywords, traffic sources, and many more critical points.
You might have a few or more SKUs that are stranded/ non-live due to various reasons such as image unavailability, pricing suppression, Andon Pull, and whatnot. Check carefully on the potential opportunity SKUs and get them live.
Make sure the catalog is complete with the best resolution images, strong titles, bullet points, video, A+ Pages, and product descriptions. This help drives a large amount of traffic to your products.
Optimize product pages by making sure that your titles are error-free and reflect strong sale season verbiage. Test content on your PDP so that it is in line with consumer search behavior. Reviews can be helpful in this case to get ideas around alternative words and phrasing.
Be sure to highlight the unique features of your product especially ones around the ongoing shopping trends. E.g. sustainability is a major focus right now and if your products reflect that, include the phrases in your content accordingly.
Creating Deals such as Lightening Deals, DOTD (Deal Of The Day), Coupons, and Best Deals are critical to getting customers’ visibility. Selecting the right deal time is also essential to improve the probability of successful order conversion
Sale events are also an inventory game. Keeping your stock levels of around 4X times your BAU days will help fuel the Sale days and thus will avoid sales opportunity loss. It also helps keep a decent day of cover post-Diwali.
Stockouts can be a big problem and Amazon’s algorithm punishes offenders by suppressing ASINs so it will be imperative to have data-driven inventory forecasting. Our retail management tool alerts you of any stockouts well before time.
Always have a plan B ready in case your main product goes out of stock. Keeping different color options for the same product or even having a similar product to that of your competitor can be beneficial in case the competitor’s product goes out of stock.
Time to bring up new selections and bring traction to them. Expanding your selections and launching at this time will help bring traction and have quick organic traffics.
These new selections are likely to start to perform well during and post events.
Keeping a track of competitors’ market share and paid media activity is very important to win market share. Keep your eCommerce tracking tools in place that can give you a clear understanding of the type of media strategy your competitors are using- keywords, ad spend, ROAS, market share, traffic sources, etc.
Our team of content and media experts will ensure you have a smooth landing during those events. We will plan ahead and update your listings with the top-performing keywords within your category. We will work closely with you to launch your media campaigns on Amazon and Flipkart which will increase traffic to your product detail pages and as well increase your return on ad spending.
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