Retail dates move millions of dollars in the online commerce environment. Each year, the audience is more likely to spend online and take advantage of the promotions that large, medium and small brands have to offer.
After all, promotional events are the ideal period for shoppers to fulfill their dream of buying something of higher value, to buy day-to-day products that fit into their budget or even closing the package of a dream trip.
And when it comes to the best month for online retail sales, November wins by far, especially in Latin America. The reason to that? Latin Americans have a habit of taking advantage not only of Black Friday but also of Cyber Monday or El Buen Fín of Mexico, for example.
In addition, the behavior of consumers in each country is different during this period. Brazilians love to buy during Black Friday, while Colombians and Chileans value Cyber Monday the most and Mexicans buy more during El Buen Fín.
Thinking about it, have you ever imagined taking advantage of all those dates to increase your business’ sales?
Expanding to Latin America might not be just an option. Expanding to the region may be the key you need to increase your business’s revenues and start selling online overseas.
According to data from the Chamber of Commerce of Santiago in Chile, for instance, in 2017, Cyber Monday sold more than 100 million dollars only on the first day. This resulted in a growth of more than 50% compared to the record of the previous year.
In Colombia alone, Cyber Monday yielded 52 million Colombian pesos in sales and more than 1.4 million visits led to online purchases.
Black Friday, which is celebrated in countries like Brazil, Colombia, Costa Rica, Dominican Republic, Panama and others, brings incredible data:
- In Colombia, in 2016, the date handled about 34.58 million pesos with a 20% growth in retail sales and transportation with the sale of air tickets;
- In Mexico, in turn, the date grew more than 130% in its sales compared to 2015;
- In addition to Brazil and Colombia, there were more than 600,000 transactions and more than 9 million dollars in 2016.
- In Mexico only, there is El Buen Fín, an event that from 2013 to 2015 had its sales doubled. In addition, Google searches grew 24% from year to year and 63% of searches were made on mobile devices.
All these data prove the growth of seasonal dates for the retail market and bring the alert for you that have not yet invested in the expansion of your e-commerce.
The time has come for your business to enter Latin America once and for all and start taking advantage of all the potential the region has to offer. Keep reading the tips we’ve selected and start increasing your chances of success in this market.
1. Study your competitors
Sounds cliché, but it isn’t! Studying the competition deeply is essential for any business, especially on the internet.
When retail dates arrive all brands are looking to offer their customers outstanding offers and treats.
The best solution for you to stand out is to know which strategies worked and the ones that didn’t for your competitors in previous years, especially in regard to promotions or even media investments.
That’s because the trend is for brands to repeat deals that have been successful, and knowing that, you can look for even more competitive options for your audience.
Always remember that to sell to other countries the best solution is to study the behavior of the market during periods of great deals and try to predict situations to offer the best benefits.
Always be prepared to attract your audience in the best possible way, receive them on your website and convert the highest amount of sales.
2. Have an efficient stock
If you are thinking of expanding your business, be sure to invest in other features that make e-commerce work. Having an efficient inventory is essential to differentiate yourself from competitors.
It is extremely important that you structure very well what we call the 3 pillars of stock management:
Logistics: whether in the production or purchase of products that will be sold in e-commerce, you need to have the right quantity to meet the demand of the public.
Avoid offering big discounts for products that you do not have a relevant quantity of stock, so you avoid the frustration of the user if you want to buy the product and finish very fast.
Attractiveness: Optimize the promotions and products of your site according to the market that will act.
There are products that have good demand in one country but in others, they do not have. Knowing this, you can make your e-commerce more attractive to people according to each region.
Seek to know the audience of each location and be more attractive to increase sales.