So we wrote that Thailand is having it’s first ever Online Mega Sales now. Over 500 websites and e-commerce brands are participating in this Thailand online event, with the backing of the Commerce Ministry and Thai E-commerce Association.
Other than Thailand, its neighbour, Malaysia is also organizing its own version of Cyber Monday. Organized by one of Malaysia’s largest e commerce site Lelong.my, Pretty.my and GroupMe, Lelong.My Black Friday is a one day event where over 60,000 items will be on sale with discounts up to 90%.
Lelong.my claims to have over 7 million visitors to their site each month, and it currently features over 800,000 product listings on its site.
Here’s a sneak preview of what’s going to be on sale tomorrow:
As we previously wrote, the online sale is modelled from the successful America’s Cyber Monday. Last year, comScore, a leader in measuring the digital world, reported that Cyber Monday spending soared to $1.46 Billion, ranking as heaviest U.S. online spending day in history.
Cyber Monday and Lelong.My’s Black Friday are both examples of a retail strategy called high-low pricing, designed to create excitement and lure shoppers by dropping prices for occasional sales.
Other than Lelong.My’s huge discount on its Black Friday sale tomorrow, if you are a bargain hunter, another similar site called Dealmates has also long been using flash sales concept as their business model. This means that any time you want a huge discount on products, Dealmates is the Malaysia website you should visit.
How is flash sales different from online group buying site such as Groupon? With Flash sales site, customers don’t need to wait for a deal to be tipped – a “no more waiting for minimum buyers” concept. Flash Sales site are like perpetual Cyber Mondays where you can enjoy discounts everyday.
Since July 2012, Dealmates has featured an average of 700 products every month, making it the top flash sale site with the most offerings. Earlier in April too, Dealmates has acquired its counterpart I Love Discounts for an undisclosed sum.
With the Cyber Monday concept getting more and more popular, this is definitely good news for consumers.
For merchants? Increasingly they would have to offer better discounts to win customers from other merchants. This price war definitely will benefit merchants who have bigger and deeper pocket as well as large inventories.
Extra: If you are interested with Lelong.My’s infographic, here you go: