Fashion items are predicted to have the highest discounts in the coming Singles Day shopping festival, a study of an online shopping aggregator said.
iPrice Group, one of the largest online shopping aggregators in Southeast Asia, released a study about predictions on the top platforms and products ahead of the largest shopping festivals in the region.
The date November 11, otherwise known as 11.11 or China’s Singles Day, is considered the Southeast Asian counterpart of the Black Friday and Cyber Monday events in the United States wherein major retailers and brands offer discounts and deals to their products.
Amid the still raging novel coronavirus pandemic in most Asian countries, consumers can still afford a shopping haul in time for the holidays as big shopping destinations within the region have started offering great deals this week.
In the Philippines, based on Twitter conversations, 93% of Filipino consumers continue to visit retail stores online and 78% even purchased products in the past month.
The phrases “Shopee,” “Lazada” and other related hashtags have started to trend on the micro-blogging platform a day before the shopping fest. These two are the among the top e-commerce platforms in the country.
Fashion, health and beauty as the top 3
The iPrice study found that clothing and other fashion-related products have the best deals across e-commerce websites with reduced prices between 35% and 95%.
“People may have less incentive to dress to impress these days, but that shouldn’t stop shoppers from availing of the best discounts for fashion items, especially since the economy is slowly opening up,” the marketing group said.
“The average discount across sites for fashion items is 35%, but consumers may get a deal for as high as 93% in a shop like Fairy Season,” it added.
Following fashion items are health and beauty products wherein shoppers may see price cuts between 41% and 72% on some websites.
“Shoppers may expect to see about 41% discount on their favorite beauty products. But if they shop in sites like Jomashop, they may possibly even snag a 72% discounted deal,” iPrice said.
While electronics was among the most sought-after during the tough lockdowns, gadgets and other electronic accessories are predicted to have discounts from 36% to 53%.
Similarly, toys and other items for children may also have average sale discounts from 32% to 58%.
There was also an increase in interest in bicycles among Filipinos, iPrice found, which was three times more than last year at around the same period.
However, bicycles and other equipment related to sports and outdoors have the lowest discount average from as low as 28% to 48%.
Home and living products are also expected to receive the same average budget deals from 33% to 49% across shopping platforms.
This information is based on the discounts provided by hundreds of online merchants that ship to the Philippines in iPrice platforms, between September 1 and October 7 this year.
The marketing firm noted that discounts are subject to change on the day itself.
“The mentioned discount percentage and merchants providing the discounts are predictions based on historical data. Hence, real discount figures & merchants with the highest discounts in the mentioned categories are not guaranteed and may differ on November 11,” it said.
Last month, iPrice also released a “Map of E-Commerce” report that showed that fashion is not the priority of Filipinos as remote working becomes popular due to the threat of COVID-19.
It also noted that the report showed that fashion retail sites are falling out of favor regionwide with clothing and apparel have taking a backseat in terms of consumer priorities.