When you are participating in a sale, it is difficult to keep up with the stocks of different marketplaces. Thus, Anchanto has a Flashsale feature that helps you segregate stocks by the marketplace.
TABLE OF CONTENTS
- Introduction to Flashsale
- Creating Flashsale Promotion
- Difference Between Stock Allocation and Stock Reservation
Introduction to Flashsale
Flashsale stock functionality is one of the widely used capabilities in OMS which provides you an option to allocate or reserve stock for the campaign in the respective marketplace(s) for a selected duration.
This feature can specifically be helpful in the event of a sale, as it ensures that the allocated/reserved quantity for a particular marketplace won’t be available to other marketplaces for sale, and hence helps in preventing overselling to a larger extent.
Creating Flashsale Promotion
- Create Promotion: To create a promotion, go to the promotions page from your Dashboard. On the top right corner of the system, you will find a create promotion button. Click on it.
- Select Flashsale: You will then be led to select the promotion type. Click on “Flashsale"
- Enter Promotion Name: Give a name to your promotion, as this will help you to track the traffic driven from that promotion.
- Choose the Flash Sale Type: There are two types of Flashsale promotions available, choose the one that suits you best.
- Select Sales Channel store: This is the store to which you want to allocate a specific quantity.
- Promotion Schedule: This is the duration at which you want to start the allocation/reservation. Since allocation needs to be done based on your actual in-hand physical inventory and hence it should be an immediate date and time.
- Click on the 'Add' button to add the product. Please note that you can add more than one product under the same promotion. Once you have selected the products you will see the currently available stock now based on which you can set the quantity to be allocated/reserved.
- Click on 'Create Promotion' once you add all products inside the promotion.
- You will receive a confirmation message that the Promotion is successfully created.
- To check the SKUs for which Flashsale is running in OMS, you can apply the Flashsale Promotion filter under the Catalogue.
Difference Between Stock Allocation and Stock Reservation
Stock Allocation: This is the dedicated allotment of stocks to a particular marketplace apart from which the stocks are not shared with any other connected marketplaces until the promotion is live.
E.g: Let's say the SKU – Product1 (Stock – 100 pcs) is listed on the sales channel Lazada, Shopee, and Zalora. If the Flashsale promotion with allocation type Stock Allocation of 60 is created for Lazada then the stocks pushed to Lazada will be 60 (allocated stock 60 pcs) and the remaining 40 units (unallocated stock) will be pushed to Shopee and Zalora. i.e. Lazada will only get 60 units and it will be fixed.
Stock Reservation: This Flashsale promotion reserves the stock for a specific marketplace and the unreserved stocks get allocated to the remaining marketplaces. However, the marketplace for which the stocks are reserved will be able to use the overall stocks (in case if the stocks are still available). This will give you an opportunity to sell unreserved quantities during a flash sale on the platform.
E.g: Let's say the SKU – Product1 (Stock – 100 pcs) is listed on the sales channel Lazada, Shopee, and Zalora. If the Flashsale promotion with allocation type Stock Reservation of 60 is created for Lazada, then the stocks pushed to Lazada will be 100 (reserved 60 units + unreserved 40 units), and the remaining unreserved stock of 40 units will be pushed to Shopee and Zalora.
To see a step-by-step walkthrough please refer to this video.
We hope you were able to understand Flashsale promotion and its types well. Stay updated on our Knowledge Base for more such tutorials.