Analyzing the offerings of a supermarket, department store or convenience store and examining what type of consumers frequent those establishments is key to establishing which chains a company's products should be present in to increase their profitability.
By analyzing large volumes of data, it is possible to combine information on the products that commercial establishments sell with details of the types of consumers that are attracted to the different chains.
Understanding consumers' lifestyles, hobbies, ages and the places they go to, in order to attract a very specific sector of the population, is fundamental to reduce the risk in the investments made for the opening of new specialty stores.
For some years now, the retail sector has been undergoing a transformation, which has been driven by changes in consumer habits and the rise of e-commerce.
Keeping online inventories as close as possible to their customers through the strategic location of emerging distribution centers, micro-distribution centers and dark stores is currently one of the most important challenges for companies.
Due to the change in consumer habits, the restrictions imposed by the pandemic and the popularization of online commerce, companies are busy optimizing their distribution channels for Internet sales.
Although in Costa Rica during December 2020 most businesses increased their sales by about 10%, the expectations of the sector's entrepreneurs for the first quarter of 2021 are still uncertain.
The year 2020 was marked by an economic crisis, which was generated by the outbreak of covid-19 at a global level. In this context, the Costa Rican commercial sector managed to oxygenate its finances with the end of the year celebrations.
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.
Greater preference for private brands, less use of cash and fewer purchases but in higher volumes, are some of the characteristics of current consumer behavior when it comes to demanding mass consumption products.
In this new business scenario, market research companies continue to focus on understanding the new consumption habits of people in all countries in the region.
Merging E-commerce models and face-to-face sales, through the implementation of apps that allow shopping in a physical store without going through the checkout line or selecting a fitting room from a cell phone, are the challenges for companies in the new reality.
In order to adjust to the new demands and challenges that arose from the covid-19 outbreak, at a global level companies are focused on understanding the trends that will predominate among consumers in the short and medium term.
In Central America, nearly 11 million people are looking to make seasonal purchases online, and of this group of consumers, approximately 30% explore options for purchasing Christmas items.
CentralAmericaData's interactive information system monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the current commercial environment in which companies of all industries must operate.
The abrupt change in consumer habits forced companies to digitalize their operations and sales, but the challenges do not stop there, as companies will have to implement effective logistics systems to reach their customers.
Since 2017, commercial activity in Costa Rica has been slowing down, but with the closures of businesses due to the covid-19 outbreak, between March and July of this year, sales have fallen considerably.
In this context of restrictions on movement and social distancing measures, which began in March of this year, approximately 30% of shops were reported to have closed and it is estimated that just in July, sales in the commercial sector fell by 68% compared to the same month in 2019.
The opportunities derived from the habit of buying online, together with the current business scenario, are creating an environment where the offer of different brands of clothing and restaurants are brought together in virtual platforms.
With the spread of covid-19, social distancing measures were decreed in the region's markets, a situation that led to radical changes in consumption habits and shopping methods.
How many people live around a shopping center, how old they are, what is their consumption level and what products or services they are looking for, are some of the questions that can be answered with the new geomarketing tools.
Measuring the potential demand of micro markets, based on the evaluation of the environment of a shopping center and its comparison with other similar sales points, has become essential to design adequate commercial strategies.
Given the gradual return to physical stores, customers will appreciate it if businesses disinfect stores several times a day, if other visitors are required to clean their hands before entering, and if employees use protective equipment at all times.
Although in this context of the spread of covid-19, digital channels have gained ground in Central American markets and this trend is expected to continue in the coming months and years, there are commercial establishments that will have to adjust their face-to-face sales strategy to the demands of the new normality, since there will always be customers who prefer to continue shopping in person.
Considerable investments in the digitalization of operations, the closure of small stores and the expansion of the commercial area of the best located sales points, is part of the strategy that companies are beginning to implement in the new context of business transformation.
Managers of large corporations agree that several companies were already making progress in digitizing sales and operations, but the pandemic ended up persuading decision makers of the need to focus on online sales, and simultaneously accompany it with a plan to transform physical stores.
Reaching consumers in a confined scenario has been a complex task for companies distributing mass consumption products, since the operation of some of the commercial channels has been limited in the region's markets.
In Panama, companies engaged in the wholesale distribution of food products such as oats, beverages, snacks and others have faced challenges during the weeks of home quarantine, which was decreed by the authorities following the outbreak of covid-19.
Real Estate Development & Adventure Park Jacó, Costa Rica. Multiple Investment Opportunities Available. The Ocean Ranch eco-residential development is located...