Retailers are already implementing Big Data tools such as location intelligence and foot traffic analytics to understand consumer mobility patterns, measure foot traffic at each store, understand the performance of their outlets, and estimate competitor turnover.
Location intelligence is revolutionizing the way companies establish, operate and expand their business.
From deciding where to locate a new store to analyzing foot traffic to gauge market competition, the use of location data is growing.
One of the key components of location intelligence is data related to points of interest (POIs). POIs indicate a specific location in an area of interest to businesses: it can be a store, a hospital, a university, or a corporate building, among others, depending on the information required for the particular target, helping companies make faster, more informed and cost-effective decisions.
Big Data together with mobility analytics and location intelligence techniques allow increasingly accurate estimates of the levels of visits received by points of sale, revealing geographic patterns of brand loyalty and market penetration.
Get to know the competition and how they behave in the market is now possible, thanks to technological tools that provide an overview of mobile device activity associated with brand locations, helping to visualize a detailed picture of consumer engagement, brand loyalty, and market share.
Location Analytics has changed the way marketing and commercial strategies are defined in the fast-food restaurant franchise business.
Understanding consumers’ behavior patterns is critical for all types of restaurants. Big Data tools play a very important role in this analysis, since they make possible to measure the foot traffic and mobility patterns of a specific area or location, among other variables. With these analyses, businesses can understand and predict the performance of their stores, as well as estimate the competitors’ turnover or identify areas for the opening of new locations. (site selection).
As a result of the fast emergence of the new commercial reality, several business models that were profitable until the first quarter of 2020, are now obsolete, forcing business leaders to rethink strategies to survive in this new scenario.
The spread of covid-19 generated radical transformations in the markets for goods and services, in the ways people work, modified several consumption habits, and even changed some tastes and preferences.
Because the transportation services provided by platforms like Uber cause people to increasingly question whether or not they need to buy a vehicle, vehicle dealers must face new challenges to keep up with sales.
The lack of a competition law in Guatemala could expose the country to sanctions from the European authorities, since it is a requirement demanded in the regulations of the Association Agreement with the European Union.
Since the end of 2016, the Association Agreement (AdA) required Guatemala to have a law on the matter, since in 2019 a Central American competition authority would have to be created. However, it cannot operate, because there is no legal framework.
Because Colombian ports have a lower operating cost base than Panamanians, the South American country competes to appropriate the logistics business in the region.
Until a while ago, Panama led the logistics operations in the region, however, there are some signs that indicate that this situation could be changing, since the growth in the movement of maritime cargo in the country has reported a slowdown in recent years. For example, between 2016 and 2017 there was a 10% increase, and last year the reported rise was just 1.7%.
Between 2017 and 2018, milk sales from Costa Rica to Panama fell 24%, explained by increased competition, while exports to Guatemala and the Dominican Republic increased 21% and 13%, respectively.
According to figures from the Promotora del Comercio Exterior (Procomer), between 2017 and 2018 sales to Panama of milk and cream not concentrated and concentrated registered a 24% decline, falling from $7.5 million to $5.6 million. The main reason behind this behavior seems to be an increase in international competition in the Panamanian market.
Arguing that in Guatemala, milk from other countries in the region is being traded at a lower price than that sold in the countries of origin, producers in the country announce that they will submit a complaint.
The Representatives of the Chamber of Milk Producers of Guatemala announced that the complaint they are preparing will be filed with the Ministry of Economy, through the Directorate of Foreign Trade Administration (DACE).
With the aim of attracting companies from El Salvador, the two operators of the Atlantic ports in Honduras and Guatemala are working on modernizing their infrastructure.
Representatives from the Central American Port Operator (OPC by its initials in Spanish) of Puerto Cortés, in Honduras, explained that due to inefficient processes and high costs, they have lost a lot of cargo from El Salvador in recent years.
The Mexican company Lala plans to invest $14 million in the expansion of its plant in Alajuela and to start selling milk and ice cream in the Costa Rican market, starting from 2018.
The investments being made in Central America by companies in the dairy industry reflect the growth potential of this business in the region, where per capita consumption of milk and dairy products has been growing during the last years.
In five years the airline market in Central America has transformed from being a market dominated by two major airlines, to one with new entrants, lower prices and greater connectivity.
The arrival of so called "low cost" airlines to the region has resulted in a progressive reduction in the prices of tickets to fly between Central American countries. Between 2011 and 2014 the average cost without taxes for travelling between Costa Rica and El Salvador ranged from between $400 and $500, while in 2015 it costs $391.
The mere announcement of the arrival in Costa Rica of the private transport network has already generated projects that result in benefits for consumers.
EDITORIAL
Competition is always good, and its actual existence in any market produces better use of available resources, bringing benefits for society in terms of better products and services and reducing costs.
134 samples of gourmet coffee passed the first stage of the Cup of Excellence competition and will be auctioned from 20 to 24 April in the Honduran Coffee Institute.
Of the 311 producers who entered the competition, 134 passed on to the second phase, and of them more than 15 samples scored above 90%.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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