After the worst month of 2024 for consumption –with a year-on-year drop of 16,1% in July and a 9,6% so far this year, according to the consultancy Scientia–, Brands are turning to online sales to compensate for the collapse in its physical premises, which reached 17% year-on-year, and they are already preparing mega offers for Cyber Monday 2024.
According to the ‘Mid Term 2024’ report of the Argentine Chamber of Electronic Commerce (CACE), 18% of total sales of 286 surveyed companies virtual channel audition in the first half, when in the same period of 2023 they represented a 15%. Likewise, the 33% of the companies considers that The digital grew faster than the physical in the first half of the year.
“Our partners leveraged online to counteract the fall in consumption. Three quarters of its digital sales come from its own marketplace. And Eight out of 10 sold in installments: he 87% in less than six and one 13% in more,” he explained Gustavo Sambucetti institutional director of the chamber.
Thus, e-commerce was one of the few sectors of the economy that remained stable due to the boost from quotas after financing was extended; in addition to the discounts that the brands launched for get rid of stock that they could not sell after the devaluation.
Although The turnover was below inflation –income, for $ 8.5 billion they uploaded a 248% year-on-year in the first half versus the advance of the 263% which marked the Consumer Price Index (CPI) in that period – the CACE rescued that a 6% of consumers purchased online for the first time -and 72% He did it from the inside–; by the way transactions grew by 1%con 102.7 million purchase orders y 137.2 million units sold with a Average ticket price of $83,256.
The top 5 best-selling products remained By units: food and beverages; tools and construction; home, furniture and garden; non-sports clothing and accessories for motorcycles, cars and other vehicles.
“We hope for a better semester. He will compete against the second in 2023, marked by the expectation of post-electoral devaluation. There is greater predictability that in the first months of the year,” said Sambucetti and anticipated that the 65% of brands expect better e-commerce activity in the remainder of 2024.
Discounts and rates on CyberMonday 2024
In this line, they are focusing on the organization of the next discount festival: Cyber Monday will take place from November 3 to 5 and It is the most relevant commercial date for the industry along with the Hot SaleBehind them are Christmas, Black Friday – which, although not so popular in the country, is growing – and Mother’s and Father’s Day.
Con offers similar to those of the Hot Sale –there were 15,000 sales with discounts of up to 70%–, they hope to repeat the sales streak of that week in May, when they tripled those of a normal day, and they are excited about exceed results while waiting for a revival accompanied by a drop in inflation.
Cyber Monday 2023 grossed $157.7 billion. 1,062 companies participated with 16,000 offers and sold 7.8 million products and services. Although The marathon of offers is organized by the CACE companies are joining that launch their own campaigns outside and in conjunction with the platforms Free market y Tiendanube.
“We hope to start from a better base than the Hot Sale. Surely, the brands They will repeat the formulas that worked for them With nine out of 10 Argentines having bought online at least once, we believe that the trend will be consolidated by convenience and access to a wider assortment of products and services. User experience is key: It doesn’t matter if you buy from the smallest or largest player, the consumer demands to do it in an increasingly better way. That’s why work is being done to optimize logistics and already 30% of deliveries are made within 24 hours“, concluded Sambucetti.