Local Retail Vs Global Retail

There are more and more facilities to shop online, or to travel in order to go shopping, with clear advantages for the consumer, accentuating a trend that local retailers must address.

Wednesday, August 15, 2012

Contributing to this tendency to seek out more and better options in terms of choice and prices, are the exaggerated profit margins local companies add to their prices.

Gabriela Mayorga's makes on her blog on Elfinancierocr.com a desperate cry that expresses the general feelings of Central American consumers who can choose and shop online, or travel to nearby shopping centres and cheap emporiums like those in Miami or Panama City.

Mayorga's argument is about Costa Rica, but the overall retail concept is applicable to all Central American countries.

"Here, my peers, the most organized of them, make arrangements once a year year to go shopping in Miami or Panama. There they buy everything for they need for their families including socks. They know it [is worth it]. For the moment I don’t have any desire to travel abroad in order for shopping, because I would have to use up precious vacation time to do so, but I swear that from now on I will think twice about it.

Its obvious, if I pay ¢50,000, about $100, for a pair of jeans here, I can find them online for $35, plus shipping and taxes I may end up paying $52 (maximum) about ¢27,000. Ahhh ... I add it up ...and add it up... and I am encouraged.
I browse Amazon and I chose a $45 pair of jeans, I also see a shirt that I can wear to the office for $14 at GAP, and I add in a cardigan dress for $26.

The bill comes to $85, about ¢43,000 colones. With that amount, I still wouldn’t have had enough for the jeans. "

More on this topic

Consumers in the New Commercial Era

April 2020

Less impulsive and more reasoned purchasing decisions and the search for product and supplier information on the Internet and social networks are some of the characteristics of consumers in the new business environment.

Given the spread of covid-19, health authorities in Central American countries have been forced to restrict the mobility of people and have chosen to close most commercial establishments.

Online Sales: What are Consumers Looking for?

April 2020

Personal care items, vehicle accessories, food and beverages are some of the products most demanded by consumers, who have migrated to digital platforms to make their purchases.

In the current scenario of confinement due to the health crisis in the region, consumers have disappeared from physical stores and have migrated to digital platforms to buy their products.

Shopping Done Using Cell Phones

November 2013

Devices connected to the internet will revolutionize consumption not only in terms of the way things are bought but also in the interaction between consumers and retailers.

From an article by the Costa Rican Foreign Trade Promotion Office (PROCOMER):

Mobile devices continue to change buying habits and defining the profile of the online shopper was the topic of discussion at Mobile Commerce Congress, the first conference dedicated exclusively to mobile commerce as a new sales tool for retailers, conducted in Spain.

Guatemalans Buy 63% More Online

August 2012

Total online purchases made by Guatemalans during 2011 exceeded by 63% those of 2009.

The information comes from the latest survey by Visa, which includes purchases made by all companies with all credit cards, not only with VISA.

This year the projections are that Guatemalans will buy about $242 million worth of goods online, which would mean an increase of 30%.

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