Maintaining proper inventories to meet demand, having a robust logistics system and an electronic sales channel that protects your customers when they make a purchase, are part of the challenges that businesses face in this new reality.
With "Black Friday" and Christmas approaching, commercial establishments in the region are beginning to apply their sales and promotion strategies, with which they will try to recover part of their income.
Selecting products with limited sales potential because of price, defining the group of clients that will be reached by the promotion and quantifying the profits that the company will receive after offering discounts are factors that must be evaluated when applying strategies of this type.
In order to avoid carrying out promotions in an intuitive way, without an integral evaluation of the action, both in terms of costs and benefits, Ariel Banos, founder of Fijaciondeprecios.com, proposes seven steps to correctly define a Profitable Promotion.
Offering low prices, promotions and discounts similar to those found in U.S. stores, is part of the bet that AR Retail seeks to attract customers, especially millennial, in the Costa Rican clothing market.
At the beginning of 2019, AR Retail, a company dedicated to the marketing of the brands GAP, Banana Republic and Old Navy, reported that it plans to invest $6.2 million over the next few years in the start-up of nine stores in the Greater Metropolitan Area.
Properly establishing the criteria for the application of discounts or special conditions helps to wisely manage price reductions without compromising the company's profitability.
Price management specialist and Fijciondeprecios.com founder, Ariel Baños, explains how through the "strainer strategy" discounts to customers can be managed intelligently.
Tips to prevent promotions, discounts and special offers from leading to profitability problems.
By Ariel Banos, President and Founder of Fijaciondeprecios.com
5 Keys to implementing profitable promotions
When sales start to slow, promotions and special offers look like a great lifesaver.However, these measures do not always improve business performance.
As the nation with the greatest potential visitors, the U.S. has chosen Costa Rica as the site of an Advisory Council to promote the northern country as a tourist destination throughout Central America.
After receiving complaints about the amount of paperwork that has to be filled out and visa requirements needed in order to visit the country for tourism as well as the slow speed of processing, the government has decided to implement the Brand USA Act, to streamline procedures and facilitate the promotion of the country as a tourist destination.
The Agency for Promotion of Exports and Investments is putting out to tender the creation of a strategy and action plan for attracting foreign direct investment to the textile and clothing sector.
Government Purchase El Salvador in January 2014 CPI PROESA / FANTEL:
"STRATEGY AND ACTION PLAN FOR ATTRACTING FOREIGN DIRECT INVESTMENT IN TEXTILES AND CLOTHING OF EL SALVADOR - Develop strategy and investment promotion action plan for the textile and clothing sector of El Salvador, to encourage the installation of new enterprises, increase the flow of foreign investment, create new jobs and strengthen the established industry. "
The country will be promoted as a destination for congresses during the AIBTM fair which will take place between Tuesday and Thursday in Chicago, United States.
According to the chief of Tourism, Allan Flores, AIBTM's presence of 14 companies operating in the country, is part of a strategy to position Costa Rica in the conference and meetings market.
The Guatemalan Tourism Institute is attempting to attract new tourists to the country, through its participation in the 20th International Tourism Fair in Russia.
"We discovered that Russian tourists have a special interest in learning about Guatemala, attracted by the theme of the ancient Mayan culture and their living culture," says Peter Duchez, director of the Guatemalan Institute of Tourism (Inguat).
Without neglecting the country that has always provided the bulk of its visitors, Central American countries are now focusing their marketing efforts on the old continent.
"Central America has landed in the International Tourism Exchange (ITB), world leader of the sector, as a thriving market and is pointing towards Europe as its future target, even though at the moment the country sending the most tourists is America", noted an article in Prensa.com.
The "The West Exports" program presented by Agexport, will help SMEs in the region to strengthen their productive capacities and trade.
Fernando Herrera, director of services for Agexport exporters, on the occasion of the presentation of the program said, "We seek to improve the productive sectors in terms of quality, quantity and marketing, making them more inclusive and developing more jobs to improve the economic conditions of the inhabitants.
The tourism sector in Guatemala may miss out on the opportunity brought about by the Mayan celebration because of lack of organization and coordination between government and indigenous communities.
Guatemalan tourist companies still do not know "if there will be some special program for December 21, the day when Oxlajuj Baktun will be celebrated."
Having hotel guests take home a product marked with your name or brand is the best way to differentiate yourself from competitors.
Competition is very tough and the internet has made global hotel deals transparent, so positively differentiating yourself and making clients remember you is vital for getting a return stay at your hotel.
Julie Weed's article (The New York Times), published in Elnuevodiario.com.ni, remarks that it is no longer enough to have bathrobes, bedding and pillows monogrammed if you want to secure the hotel brand in the customer's mind and make them decide to return.