One way to attract consumers to purchase your products is to sell them at a lower price. But if you want to boost traffic to your online store and increase sales quickly within a short duration, you can use flash sales as a money-making promotional strategy.
What Is a Flash Sale?
A flash sale is where an eCommerce store sells specific products at a substantially discounted price for a very short period. Discounts typically range from 50% to over 75% of the product’s regular retail value. Most flash sales usually run for at least three hours, while others last up to a few days.
Because of the large price reduction and the limited time to purchase items, this strategy creates a sense of urgency in consumers. It appeals to the consumers’ fear of missing out (FOMO) and compels them to buy on impulse.
Just like livestream shopping, a flash saleis one of the most popular marketing tactics eCommerce stores use to …