Jump to content

E-Commerce is Gaining Ground in the Region

Recommended Posts

  • Moderators

E-Commerce is Gaining Ground in the Region

So far this year, interest in e-commerce services in Central American markets has clearly picked up, with Guatemala, El Salvador and Panama recording the largest increases in e-commerce interactions.

Thursday, May 7, 2020

Through a system that monitors in real time the changes in the interests and preferences of consumers in Central American countries, developed by the Area of Commercial Intelligence of CentralAmericaData, it is possible to project trends in demand in the short and long term, for different products, sectors and markets operating in the region.

When analyzing the Guatemalan market, the interactive information system details that the long-term trend, the issue of e-commerce services, has reported a sustained increase since the beginning of 2019. However, as of March 15, the short-term trend in consumer interactions shows an upturn, which is maintained until today.

The case of El Salvador is similar to that of Guatemala, since February 2019, the interest in e-commerce services reflected in the long-term trend, registers a sustained rise, and in the case of the short-term trend, this rebounded from mid-January 2020.

In Panama the long term trend shows that consumers lost interest during the last year, but since January growth levels have recovered. The short term trend points out that from mid-March, is when the interactions associated with the issue rebounded.

The figures detail that so far in 2020 in Honduras has aroused interest in e-commerce services. In the cases of Costa Rica and Nicaragua, the short-term trends in both markets do not show a significant behavior.

This tool for monitoring the interests of consumers in any country in the region allows companies to project demand trends and anticipate the changes that will occur in the several sectors and categories of products and services. This information system allows for weekly tracking of any product or category, resulting in an extremely valuable input for making business decisions in the new commercial reality.

This weekly tracking is part of the interactive online access report that we develop for our clients: "Information System for the Impact Analysis of Covid-19 on Business."



Link to comment
Share on other sites

  • 3 weeks later...
  • Moderators

Latest Changes in Consumers

Given a scenario of social distancing and changing shopping habits, consumers in Panama have decreased their visits to supermarkets and interest in e-commerce services has grown.

Monday, May 25, 2020

The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with detailed information essential to understand the new commercial environment that has emerged in an accelerated manner.

As a result of the quarantine decreed by the health emergency that arose from the outbreak of covid-19, in Panama the mobility of consumers in residential areas rebounded, since as of May 16 the trend registered a 35% increase compared to what was reported at the end of February.

The imposition of social distancing measures has led to the emergence of a new commercial reality, since on May 16 the Panamanian market showed a decline in the number of people who moved in locations identified as supermarkets or pharmacies, reporting -51% variation from the levels recorded in the last week of February.

The drop in visits to supermarkets caused an inverse effect on the interest in e-commerce, since according to the digital interactions of consumers associated with the subject, this rebounded in recent weeks. The interactive report details that in the Panamanian market, the long term trend associated with the theme of e-commerce services has registered a sustained increase since January 5 of this year, and in the case of the short term trend, this has rebounded since March 8.

Consumer interactions for cosmetic surgeries are one of the trends that have gained the most ground in the long-term trend. The records show that from July 2019 the interest increased, a behavior that has been maintained during the quarantine months.

The data explain that the short-term trends in this context of confinement and change in consumer habits, interest in pest control services has increased. The rebound is beginning to be evident from March 1.



Link to comment
Share on other sites

  • 2 months later...
  • Moderators

Consumer: What are they Looking to Buy Online?

Of the total number of people in Panama who are looking to buy products and services online, 35% are trying to buy some type of electronic equipment, 30% are exploring options to purchase a vehicle and 26% are looking to hire some financial service.

Monday, August 17, 2020

The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.

The information system shows that at the end of the first half of 2020 in the Panamanian market, of the total number of consumers who are looking for electronic equipment to buy online, 14% are trying to acquire a video game console.

The data details that of the group of people in the digital environment who express interest in hiring financial services, 7% of the total seeks to hire a personal credit and 14% tries to access the service of a credit card.

When analyzing consumers who seek to buy a vehicle or any product associated with the automotive market, explains the information system that 8% of all Panamanians try to acquire a vehicle type car on the Internet.



Link to comment
Share on other sites

  • 1 month later...
  • Moderators

From Digital to Physical: How Does the Consumer Choose?

With the accelerated arrival of the new commercial reality, consumers no longer divide the world between the physical and the digital, since now the purchasing processes are a constant succession that combines both aspects.

Thursday, October 15, 2020

Due to the transformation of consumer habits that had been occurring since before the covid-19 crisis and that has now accelerated, companies are focusing on understanding how people decide on the purchases they make. Increasingly, consumers make their decisions through the web.

See "E-Commerce: What do Consumers Want to Buy?"

The rise of e-commerce is one of the most notable effects of recent months. Reports from CentralAmericaData indicate that in the new norm, interest in online sales in the region's markets continued to rise in September 2020, with Guatemala, Costa Rica and Panama being the countries that registered the greatest increases in interactions associated with the topic.

Researches that try to explain the new commercial reality, estimate that the digitalization plans that the companies thought to execute in a period of 1 to 3 years, have now been implemented in a few weeks.

The challenges for companies and brands are to find ways to adequately reach consumers in the new reality.

Cincodias.elpais.com reviews that "... consumers no longer make a clear distinction between the physical and the digital world, but see the entire purchase process as a constant succession, where even if the last step is taken in the store, the purchase decision has been made entirely through the web. Achieving a balance between both categories is the main challenge of the luxury industry today."

For Inaki Trincado, director of Luxury Iberia Coty, "... A luxury perfume is not just a perfume; it is a dream. Can you transmit the dream digitally? Yes, in thousands of ways, but you will always lack the smell. That's why you can't limit your strategy to the online world, but neither should you despise its strength. Nor can you leave the perfume alone in person and wait for them to come and smell it."

According to the experts, with the digital transformation there has never been an opportunity to have the consumer so close, and it is the opportunity to transmit the experience that is expected from the brand.


Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...