On 25th July 2018.Royal Enfield conducted an online flash sale of its recently launched Classic Pegasus 500 @ 04:00 PM and it took just 178 seconds to sell the entire batch of 250 motorcycles on the company’s official website. The Pegasus edition of the Classic 500 was announced on the 1st of June this year, and it is priced at INR 2.49 Lakh (On-Road Mumbai).
I won’t get surprise if other motorcycle manufactures in future adopt the strategy of mobile giant Xiaomi. This strategy was brought in for Xiaomi by Hugo Barra, ex Vice President of Xiaomi. The strategy not only helped Xiaomi to become mobile giant and allowed to have a specific position in mobile market where other competitors like Samsung and Apple were dominant.
Lets understand below Pros and Cons of Flash Sales.
1. Exposure : Flash sale helps in increase awareness of the product. For new businesses, there’s no other way to reach such a large market from the start.
2. Targeting : When you sell through these sites, you know exactly what audience you’ll reach. This helps both when you know who you want to target and when you want to reach a new target—maybe men or international shoppers.
3. Traffic : Exposure on flash sale sites is great for driving visitors to your website. Inevitably, shoppers who see your products want to know more. They’ll go to your e-commerce site, and may buy something while they’re there.
4. Networking : Partnering with flash sale sites to sell your products builds relationships, which in turn, can lead to referrals and future requests for business when your contacts move around.
Flash sale sites also have their downsides:
1. Discounting : No matter which site you work with, you’ll have to discount your wholesale price, which is painful for most retailers. If you can, ask around as the amount of the discount varies.
2. Control : When you sell through someone else’s website, you lose control over how your products are marketed. Even the pictures they choose might not be your preferred images.
Pic Credits : Pinterest