Why Are Republic Day Offers The New Trend You Should Buy In?

The sale season has officially commenced. The festive season does not hold the monopoly for the onset of sale spell. It is observed across all online and offline stores that they are highly motivated to use the Republic day for showcasing exciting offers and lure in more shoppers. ‘The Republic Day’ offers is the new trend that has everyone hooked from the big players like Amazon and Flipkart to small scale retailers. Are you still on the fence thinking what offers to choose for your product/services? We can help you to choose the best option with minimal effort. Before we start on the Republic Day offers, let’s understand the basics like what, why and how? 

Uptill a few years ago, the Republic Day sale was only cashed in by supermarkets for groceries and household items. The supermarkets were flooded with people to make the most of the sale and get the best deals. But in the past 4 years the e-commerce market has shown a lot of interest in capitalising the gazetted holidays as well. Flipkart and Amazon were also pulling all the strings to take full control over the market on the occasion of the 70th Republic Day. Flipkart witnessed a 30 percent growth in online traffic last year. Furthermore, customers also enjoyed instant discounts on Amazon.in gift cards & Citibank credit card holders also availed 10 percent cash back during the sale in 2019. On the similar lines, the HDFC loyalists were offered up to 7.5 percent discount with regards to shopping with HDFC Bank debit and credit cards on Flipkart. 

The general idea is that since it is an off day, most of the demographic between 15-35 years spends time online on social media or shopping websites. If these shoppers could be motivated with the right offers, it can help your business get the breakthrough that you’ve been looking for in the first month of the year. 

The big e-commerce players have already started their campaign to provide offers on books, mobiles, computers, cameras, movies, watches, media players, healthcare appliances, baby products, fashion jewellery and more. The sales are mostly starting from 22nd/23rd January and lasting upto 26th January. The great deals are all set to draw in shoppers and make the most of it. Let’s take a closer look on the different kind of offers along with the products:

  • Discount Offer: The oldest trick in the book is probably the best. Discount offers work across all categories. If you have any stock available for a clearance sale, discount offers are the best way to go. You can even arrange your product lines from latest to oldest. The latest products can have smaller discounts, while the oldest can go as high as 70% off. Do keep in mind to always advertise with the highest value. For eg. If you are providing discounts between 10% to 70%, always advertise with something like upto 70% off, this will definitely provide you more traffic. 
  • Exchange Offer: The best option if you deal in electronics. There is a huge market for old items, if you are a dealer of a one particular brand you can always provide a set discount based on the quality and condition of the old products. Even e-commerce sites have started a small calculator where you can buy new phones, while exchanging your old one. 
  • Cashback Offer: This offer can only work for if you have an online store that is efficient enough with payment options and synchronicity. If you have an e-tailer, there are always plenty of options with credit card holders. The banks themselves provide them an option. This can help you to target a specific set of audience and buyers. But it is said that if you are not speaking to someone through your ad, you are speaking to no one. So it does not matter what offers attract your shoppers as long as you can convert them. 
  • Extended Warranty: Warranty is something that has always worried the buyers of electronics. They are always on the lookout for an extended warranty. This is probably one of the safest and most convenient offers to provide. But as far as offers go, this again is only limited to the sellers of electronic products.
  • Buy X and Get Y: The offers like “Buy 1 Get 1” or “Buy 2 Get 1” are always great for apparels. These offers can be applied to already categorized products. You can always set a particular date for the same to create that urgency in the buyers. The shoppers might be saving some very small amount but they always fall for this trick. This Republic Day, if you are dealing in apparels, you can even leverage on the flag colours. It can provide you with the theme and combination. This will give you a lot of footfalls on your website or your physical store.   
  • Freebie Offers: Freebie offers are something that can urge the shoppers to always buy more, sometimes even outside their budget. The catch is to keep an exciting gift option given free on a minimum purchase. So the shoppers who are out to buy things for Rs. 1000, will buy stuff for Rs. 2499 to get that gift. If you are an avid shopper, you might have fallen for the same yourself. You always have to keep in mind and think like a shopper. What would you be out looking for? And whatever is the answer is the same thing you have to implement. 

If the above text is too elaborate, here is a chart to make it easier for you:

OffersCategories/ Products
DiscountElectronics, Fashion, Home, Health, Books, Wellness, Sports
ExchangeElectronics
CashbackElectronics, Fashion, Home, Health, Books, Wellness, Sports.
Extended WarrantyElectronics
Buy X Get YApparels, Accessories (Electronics & Fashion)
FreebieElectronics, Fashion, Home, Health, Books, Wellness, Sport

We at Taglr, which is  home to over 180+ websites, are also offering the sellers an opportunity to promote your offers on our platform. So if you are worried about where to promote the deals and the offers that you are providing, Taglr can provide you a great opportunity to get high intent shoppers. We have recently launched our exclusive ad platform called ShopperAds. This platform enables brands and retailers to leverage our traffic and promote their deals to more than 5 Million shoppers per month. There are ample advanced features like geo-location and gender selection to target the right audience.    

Conclusion:

Setting up offers does not take a lot of effort, but it is very effective. The offers could be promotional, seasonal or for special occasions. If you as a seller promise the buyer to give them something more than the monetary value, they are always your happy customers. Great offers generate loyalty. If you always have one of many offers running on your products or store , it will always attract buyers. But, like any bad habit you have to keep in mind not to overdo it. You would not want to be one of those stores, where there is always the same offers throughout the year. The shoppers are getting smarter, they will surf 100 websites before they land on your store. So don’t wait around for the festive season to kick in. You can have a great start to the year if you can cash in on Republic Day. 

What Does The First Quarter Has In Store For Indian E-commerce?

The onset of upcoming trends in the Indian e-commerce is gaining momentum and growing exponentially. If we take a look at the projected statistics for this quarter, it looks promising. The most anticipated days are the big gifting calendar events like Valentine’s Day and International Women’s Day. The first month can be defined as a preparatory period. The sales will be stagnant, as people are still cashing in on the tail end of the New Year deals which goes on until 10th January approx. The compound annual growth rate (CAGR) for the Indian e-commerce market will be increasing by almost 20% in amounting to US$ 64 Billion in 2020. 

Category Composition:

The predominant category is electronics as it will consist of almost half the market at 48%, followed by Fashion at 29%. This percentage is expected to remain the same as smartphones are still one of the most searched products across all platforms. People are still shy about buying home and furnishing products online, hence it only comprises 9% of the entire industry. The baby, beauty and selfcare together sums upto 8%. The books and other products are at 3% each. The category composition projects that electronics will still be a favorite choice across the gifting events. This category composition is based on the analytics of popular e-commerce websites.  

Comparison from last Quarter:

Based on the data of the last quarter, we at Taglr observed that the maximum clicks, almost 62% in the first quarter were for the electronics, followed by fashion at 26%, then home & furnishing which consists for 8%, then lastly we observed that health and wellness got the least attention summing up to only 4% of the total clicks in the in the first quarter. As the first quarter of 2020, we expect similar behavior from our shoppers, there is an expectation that the category compartmentalization will remain the same, but there will be a surge on an average of 20% in clicks. The orders in which the categories are leading will remain the same. 

For further analysis, let’s break down the products in the major two categories and take a closer look at what products are expected to draw most attention. This prediction will be based on the search results on Taglr. This may vary for different websites, but will help you in understanding how to position your products, and which ones to showcase based on the data. Let’s begin:

Electronics:

The most searched product will be smartphones, followed by accessories and then laptops. The other kitchen and smaller appliances will be the last in line. The smartphone market never seems to disappoint throughout the year. With the launch of any smartphone from a leading brand, the internet searches rise. This quarter will be a great time to make sure that you are also putting the smaller accessories on the front line. The accessories sell all year long, irrespective of the season sale and events. 

Fashion:

The fashion industry is capturing more market every year. There are high expectations from the apparel industry. In this quarter, the ethnic wear in apparel category will be the favourite. There are big events like the Republic Day and Holi. These festivals will also accelerate the colour oriented searches for clothing. For Republic Day, the searches will be mostly for flag colours (saffron, white & green). The other major calendar event is Holi, there are a lot of offers on apparel and accessories. Shoppers will mostly search for ethnic clothes. As for Valentine’s day the main focus will be on gifting, so the apparel industry may not see a significant difference in searches or sales, but there is a big scope for other categories. 

Important Dates and Events:

Based on the search statistics of last year, the peak searches for the first month will be on 26th January. There are usually a lot of exciting offers for shoppers. Hence a lot of them are on the e-commerce websites to get a great deal. With the onset of February, the peak searches will be 3-5 days before Valentine’s day. The gifting season will be upon everyone. So the demographic between 18-35 years will be busy on the wide web looking for gifts. The searches are comparatively low on 14th February, as most of the shoppers would have already placed orders and bought gifts. The dates for the month of March will always vary. The festival of Holi has dynamic dates, but the search peaks will be seen in the beginning, mostly for Women’s day. A few days before 8th March, apparently between 2nd-5th March, there will be more traffic than usual on the e-commerce websites. As for Holi, there are specific sections of shoppers looking for a good deal or an ethnic wear for the Holi party will be spending time on the websites. 

Conclusion:  

The first quarter will give some momentum to the year, but it is expected to slow down. If you’re a  seller, the best thing to do is to bank on the evergreen products and accessories that people buy across the year. There are products like denim, shoes, books, etc. It doesn’t matter what products you are dealing in, as long as you learn how to position it in such a way that it attracts attention. You can always change the kind of offers you provide. There are multiple options for you if you want to create a loyal base for shoppers. The shoppers have to know that they will be getting the best deals from you. Keep in mind the dates and products in advance and plan accordingly.  

How To Drive Customer Engagement?

Customer engagement is a business connection between a loyal buyer and an organization through various channels of correspondence. This connection can be a reaction, interaction, effect or overall customer experience, which takes place online and offline. The definition is fluid and its meaning is broad, but it includes every positive interaction that a customer has with the brand, or with fellow customers. These customers can become your brand advocate and be avid buyers of all your brand products. They are very active and updated with your new range of offers and products/services. This engagement need not be only restricted to conversations between the employees and the customers, but between the product and the customer. It is the product that will build your brand image.   

Why customer engagement is needed?

An engaged customer is best for business, A study from Gallup suggest that a highly engaged customer generates 24% more revenue than other customers. 

There are multiple ways that an engaged customer can help our business grow:

More revenue:

Your frequent customers who interact with your brand on a regular basis will spend more money than your occasional customer. Your engagement helps keeping your brand front and centre, so that whenever they are in need they turn to your brand first. 

Retention: 

It will always cost more money to get new customers than to retain one. This also involves the customers who are engaged through your social media, and are actively responding and sharing your posts to help you with brand awareness. As you know what relationships you have built with your customers, they stay loyal and are less likely to turn away. These customers will also go the extra mile and tell people about their experiences and interactions with your product, services and brand that will help you in creating a brand image.    

Customer engagement and retention will not happen overnight. It requires restless dedication from the brand to establish that trust to build something that customers would like to engage with. Consider customer engagement an upward spiral. As you gain more customers, you can create more engagement. More interaction will result is more profits and add more value, it can be turned into an everlasting reinforced cycle. 

Since we have now understood the conceptualization of customer engagement and it’s importance let’s now see how can you drive it:

The importance of social media: 

Social media is redefining the means of marketing. The content driven market taking over the conventional marketing strategies. The customers love to see, engage and react to posts on different social media platforms. Make sure that your content is at par with your brand’s personality. The content has to be unique. Taglr’s social media marketing is content driven and we have an engagement rate of over 10%. We ensure that our followers are always relating to Taglr’s post but at the same time it is symmetrical to the brand image and brand language.   

Have a lot of Q & A’s

Always ask, listen and reflect. Have frequent questions posted on various platforms, it is a reflex to loyal customers to answer back. If the questions are unique, the chances of engagement is higher. This will create a space for your brand in the customer’s day-to-day activity and make the experience more personal. 

Reward

You should always give back to your loyal customers. If they get rewards, it elevates the entire experience. The reward can be monetary, it can be a cashback, some points or just a message or an email saying thank you. When your buyers are getting their value for money, they will be satisfied but when they are getting little unexpected bonuses, it will add joy and pleasure to be associated with the brand. Even a birthday email or message can go a long way. 

Cover maximum ground

Make sure you are present everywhere. On all social media platforms, on review platforms, etc. Regularly reply to the positive and the negative reviews. This shows concern from your end, and a conversational establishment. The customers know that their efforts and communication is reaching to someone in the organisation.  

There is no documented formula to read and implement. This has to be unique, you have to create an experience and engagement that conveys your ideas and understands the needs of the shoppers. 

Conclusion: 

The best place to start for customer engagement is to see how the shoppers are reacting to the current product and services provided. What gets the maximum attention and interest? What are the most frequent questions? and are you providing answers to the FAQs. Are your loyal customers talking about you in the community? If not, what will nudge them to do so? You have to understand that this is a two way street. If your content or your communication is getting no response, there is zero engagement. The customers have to consciously choose to speak to you and interact with your brand. Only selling the product is not important, communication is the key if you want to sustain in the market. Your relationship with the buyer should not be transactional, it has to be dynamic and mutual. So if you have not implemented a customer engagement strategy yet, it is high time you do so.