The Flash Sales effect

Posted by Eddie Sawyers,

 

Two Months ago we launched Flash Sales, a feature allowing Retailers and Partners to easily run a promotion and report on its success easily and effectively.

Now with a number of promotions and sales under our belts, across different Retailers and Partners, we have been delving deep into the data to see what insights we can learn to increase our understanding on what works and what doesn’t when it comes to promotions.

We want to share those insights here to help those on our network run successful sales in the future.

Reward Cloud flash sales

Our initial analysis has uncovered 3 interesting discoveries that were common across all the sales we have run so far.

  • Sales go up! - During a sale, the number of gift cards sold goes up in comparison to previous periods. Ok, I know what you are thinking and that is that this is a pretty obvious observation and in some respect you are right. However it is worth calling out as some of the increases we have seen have been pretty significant. .
  • We have seen a range from 15% to a whopping 160% uplift!

  • Average loads increase! - A bit more of a surprise was that you also see a increase in the average value that is being loaded onto each gift card. So not only are more people buying more but they are really taking advantage of the deal and loading more than average onto the gift card that they are purchasing.
  • In this area we are seeing increases of between 20% - 30% in average loads compared to previous periods. I think you will agree this is not an insignificant change!!

  • Give more, get more! - We are seeing a direct correlation between the value of the discount and the percentage increases in sales and average loads. The finding here is quite frankly, the more you give the more you get in return!.

Our conclusion so far is that Flash Sales really do work as a means to increase both sales and load values.

We shall continue to analyse the data and will share our findings to help you plan your sales in the future.

Setting a Flash Sale up with us is really easy and we require no changes to our Customers integration with us. Our platform automates the application of the rules of your sale for you and provides you the with visibility on the sales to allow our customers to monitor and report on the success which is crucial in running a campaign and learning for future ones.

For more information please get in touch contact@reward.cloud