For the third quarter of 2021 a slow recovery of the automotive sector is seen, reaching purchases in the Central American region for $451 million, with China being the main supplier, with 27% of the market.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
During the third quarter of 2021 there was a 20% increase equivalent to $1.59 billion, the main supplier of electrical transformers for Central America was China with $521 million, cornering the region with 33%.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
Companies that offer their customers mobile and digital payment options, and also have cybersecurity mechanisms for fraud prevention, are the ones that will be able to take advantage of their position in this context of e-commerce boom.
The pandemic has considerably changed consumer habits, because of the quarantine decreed in the countries of the region, people prefer to spend more time at home, a phenomenon that forced companies to offer their customers online shopping options.
Accurately calculating freight costs and delivery times to make online sales profitable for companies are, in this context of the e-commerce rise, some of the most important challenges for the retail sector.
The changes in consumer habits reported in the context of the new commercial reality, which arose quickly as a result of the Covid-19 outbreak and the restrictions imposed on mobility, have forced companies to transform the way they operate.
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.
Small warehouses located in strategic locations that serve to quickly distribute the merchandise sold online, are the type of properties that in this context of new business reality have gained ground.
When analyzing the Guatemalan market, it is reported that one of the geographic regions in which the productive activity of this sector is increasing is composed of Villa Nueva, Villa Canales and San Miguel Petapa, municipalities of the department of Guatemala that are located south of the capital of the country. This area is a commercial node that has developed quickly in recent years.
Reducing delivery times of products sold through digital channels and maintaining different supply and distribution options to face scenarios of trade restrictions are some of the challenges that companies face in this new business reality.
In Central America during 2020, companies had to adjust quickly to the demands arising from the health crisis caused by the covid-19 outbreak, as restrictions on consumer mobility and face-to-face sales were continuous.
In Costa Rica, Panama and Honduras, interest in e-commerce services rebounded in January 2021 and in El Salvador and Guatemala, the number of Internet searches associated with the topic has not reported significant variations in recent months.
Through a system that monitors in real time the changes in the interests and preferences of consumers in Central American countries, developed by CentralAmericaData, it is possible to project demand trends in the short and long term, for the different products, services, sectors and markets operating in the region.
In order to force companies to comply with the payment of taxes on sales made through electronic channels, as of June 2021 SAT will begin to use a digital platform that will analyze the information that appears on social networks.
The restrictions on mobility decreed during 2020 due to the outbreak of covid-19 and the change in consumption habits, boosted the growth of online sales in the Guatemalan market.
Investing in automatic learning systems to offer the most appropriate products for each consumer and to strengthen the relationship between customers and manufacturers, are strategies that could improve the income of online stores.
With the arrival of a new commercial reality, e-commerce passed from being the future of several businesses, to the present of companies dedicated to the commercialization of all types of products and services.
Companies with teams dedicated to innovation, organizational structures that allow for agile decision making and that quickly migrated to teleworking, are those that have best adapted to the new commercial reality.
The pandemic brought about a scenario of changes in the business models, the companies had to apply radical changes in an accelerated way in order to successfully face the challenges represented by the changes in people's habits.
Between July and October 2020, the number of people in Guatemala exploring options for buying barbecue grills online increased by 51%, while the number of Costa Rican consumers looking to buy garden furniture grew by 39%.
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.
When mobility restrictions were decreed due to the covid-19 outbreak, interest in e-commerce services rebounded in all Central American markets, but, in the last few weeks a decrease in the number of Internet searches associated with the topic has been reported.
Through a system that monitors in real time changes in consumer interests and preferences in Central American countries, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
Between July and October 2020 the number of people in Panama who were exploring options for buying bedding online increased 36%, while the number of Salvadoran consumers looking to buy carpets grew 72%.
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.
Between July and October 2020 the number of people in Panama looking for apartments to rent grew 34%, while the number of Honduran consumers looking to buy apartments for sale fell 5%.
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 key data to understand their behavior, new trends and anticipate eventual changes in their buying patterns.
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