Estimating transportation costs per person, calculating the floating population that travels through a certain sector and establishing their socioeconomic level, is essential to know exactly what should be the right location for a new station to serve customers who demand mobility services within the cities.
Every day there are more and more work teams and data driven companies that have found in Commercial Intelligence and Geomarketing solutions a possibility to reduce risks in new investments associated with expansion plans and opening of new service points.
Making decisions based on models that collect sociodemographic information of the area, characterizing the commercial environment of the possible locations of new stores and including data on the tastes and preferences of potential customers, reduces the risks of investments in the opening of new points of service.
The work teams and "data driven" companies, organizations that are based on the efficient use of data as the axis of all their processes, have found in the Commercial Intelligence and Geomarketing solutions, a possibility to reduce the risks in new investments associated with expansion plans and opening of new stores.
In order to reduce the risks assumed when executing a plan to open new points of sale, it is crucial to rely on geomarketing solutions that provide key data on the commercial environment of each potential location.
Using Geomarketing solutions we have developed for our clients, CentralAmericaData's Business Intelligence team analyzed the environment of some of the main shopping malls in Central America. Below is an overview of the findings of the study.
Companies with teams dedicated to innovation, organizational structures that allow for agile decision making and that quickly migrated to teleworking, are those that have best adapted to the new commercial reality.
The pandemic brought about a scenario of changes in the business models, the companies had to apply radical changes in an accelerated way in order to successfully face the challenges represented by the changes in people's habits.
Analyzing the economic and financial situation of the company, implementing a resistance plan, identifying what products customers need and what opportunities can be exploited in this context, are some of the tips for businesses in the new and complex reality.
In response to the arrival of the covid-19 virus in the region, Central American economies have taken different measures, in scenarios ranging from severe mobility restrictions, as in Guatemala or Honduras, to others that are less strict but equally negative for economic activity, as in Costa Rica.
Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies.
Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the things that can be done today with the help of new technologies.
Although the Sears store chain was declared bankrupt this week in the U.S., brand representatives in Guatemala announced renovations to its facilities.
Largely explained, because of the e-commerce boom, last Monday the U.S. store chain Sears Retail declared bankruptcy. However, representatives of the brand in Guatemala informed that by belonging to the franchise Sears Brands, its operations will not be affected in the country.
The Panama Maritime Authority (AMP) has selected the company Nathan Associates to develop, within three months, a business model to develop the port.
The project will include analysis and identification of the potential to attract investors to the market.
According to Prensa.com, "... this development plan ... seeks to identify viable options for creating business opportunities and alternatives for intermodal transport and logistics systems ...
The event received around 10,500 visitors and in the business meetings 1,350 contacts were made.
From a statement issued by the Chamber of Commerce, Industry and Agriculture in Panama:
The Chamber of Commerce, Industries and Agriculture in Panama (CCIAP) closed the thirty-third version of Expocomer with complete success, having made significant contributions to the economy of Panama and exhibitor countries who took part in business meetings over four days at this important international trade show.
From March 15th to 18th a group of 24 coffee importers will be visiting the country to explore business opportunities.
The Embassy of the Republic of China (Taiwan) in El Salvador together will the Salvadoran Coffee Council will be receiving 24 coffee importers, seeking business opportunities with Salvadoran sector companies that have organic, special and brand certificate coffee.
In a market dominated primarily by foreign brands, there is an increasing trend for Panamanian companies to migrate to this business model.
José Luis Ford, president of the Chamber of Commerce and Industry of Panama (CCIAP) noted that "...The openings developed in the last five years, are added to the 50 previously established making a total of 200 franchises in different markets across the country, recording an investment of $100 million. "
The Guatemalan government has launched a Business Innovation Program but the website where companies sign up to it is not functioning.
Editorial
If you want to pontificate on how to do business, the first thing you should do is to demonstrate efficacy. We will keep insisting that public officials should not try to teach entrepreneurs how to do things, but instead devote themselves to removing bureaucratic obstacles and infrastructure, and in particular to doing their own jobs effectively and efficiently. Until this happens, the hundreds of "business support" programs that appear every year in Central America, will only end up being good intentions and nothing else.
During the "V Migrant Encounter 2012", Guatemalan businessmen living in the United States will meet with local business representatives.
The meeting is part of the government's strategy to increase investment levels in Guatemala, and especially by having some of the billions of dollars that are sent by Guatemalans living abroad invested in productive enterprises.
Employers in Peru and Costa Rica will explore potential business in the areas of food, clothing, cosmetics, foodstuffs, lubricants and paints.
Businesses can not wait, and even though a free trade agreement with Peru is still passes through the bureaucratic cliques of the Legislative Assembly of the Central American country, Peruvian entrepreneurs have taken the initiative and organized a business meeting with colleagues from Costa Rica.
Businesses need the government to provide clearer policies related to legal security, governance, education and macroeconomics.
The Costa Rican Union of Chambers and Associations in the Private Business Sector (UCCAEP) on Thursday presented President Laura Chinchilla with a development agenda for the country, which was derived from a survey that involved 500 entrepreneurs from all sectors.