Online Business: What's Going On in Panama?

When comparing July and October 2020, the number of consumers in the country who were exploring options to buy a Ford brand vehicle through the Internet increased 30%, and the number of people looking to buy a photographic lens decreased 29%.

Tuesday, November 10, 2020

CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.

For this analysis, CentralAmericaData collected data on the number of Panamanian consumers who in July were looking to purchase various products and services online. In October the same information was collected again and the variations reported in the quarter in question were evaluated.

Details of some of the most salient findings:

Household appliances: For the months under analysis, at a national level the number of consumers who tried to buy a coffee machine in the digital environment increased by 59%. In the case of the number of people who explored options to acquire washing machines and dryers, it decreased 71%.

Furniture: In this market there was a 63% increase in the number of people in the country looking for decorative tables for living rooms, and a 14% decrease in the number of consumers trying to buy home office furniture.

Seasonal purchases: The figures show that for the months under analysis, the number of people looking for online shopping options associated with "Black Friday" increased by 11%. In the case of the number of consumers interested in purchases in physical stores, always in the context of "Black Friday", it grew 5%.

CentralAmericaData has a complete information system for the analysis of consumer interests in any country in the region, which allows companies to project demand trends and anticipate the changes that will occur in the various sectors and categories of products and services. This information system allows monthly tracking of preferences and purchase intention of Central Americans by product or category, resulting in a very high value input to make business decisions in the new commercial reality.

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When comparing July and October 2020, the number of consumers in the country who were trying to buy a coffee machine via online increased by 87%, and the number of people looking to buy a cell phone increased by 13%.

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Between July and October 2020 in Central America the number of people trying to buy home office furniture online increased 71%, and the number of consumers looking for car insurance policies grew by 8%.

CentralAmericaData's interactive platform, Consumer Insights, monitors in real time changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchasing patterns.

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