Food, beverages, liquor, household and personal care items are the categories that are expected to drive the rise in consumption levels in Central America during the last month of the year.
Despite the fact that 2020 has been a complex year for all business sectors, due to the covid-19 outbreak that generated a serious economic crisis in all Central American countries, sales are expected to increase considerably in December.
Since people are staying at home more because of changing consumer habits, Guatemalan entrepreneurs say that kitchen furniture, pergolas and other household items have been in the greatest demand.
Because of the economic crisis that resulted from the covid-19 outbreak, sales goals will not be met this year. Prior to the start of the pandemic, Guatemalan entrepreneurs in the sector estimated that by 2020 the amount of furniture and wood products sold would be $210 million, but in the current context, they forecast that the figure will be reduced to $160 million.
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.
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.
Due to the economic crisis, it is expected that during 2021 the number of business alliances and company sales will increase, especially in the most damaged sectors, such as tourism, hotels, restaurants, entertainment, education and real estate.
The restrictions imposed by the governments of the region due to the covid-19 outbreak, has generated economic losses in most of the productive sectors, including reported business closures and increases in unemployment levels.
In the new normal, interest in e-commerce in the region's markets continues to rise, with Guatemala, Costa Rica and Panama being the countries that recorded the greatest increases in interactions associated with the topic.
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.
In the countries of Central America, more than 21 million people are looking to buy a vehicle online, and of this consumer segment, close to 4% explore options for acquiring a Suzuki brand car.
CentralAmericaData's interactive information system monitors in real time the changes in consumer habits in all markets in the region, with fundamental information to understand the current commercial environment in which companies from all industries must operate.
Understanding audiences and visualizing the client as the center and reason for the company's existence is fundamental to adapting business models to the new commercial reality.
The statistics, trends and projections that were used to analyze and define business models and strategies before the pandemic lost their validity due to the emergence of a new economic and commercial reality.
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.
With the change in the configuration of the markets and businesses, companies must think clearly, adapt to the new rules of the game and avoid, as far as possible, immediately implementing the policy of low prices.
The economic crisis resulting from the outbreak of covid-19 has changed the rules of the game in the markets at a global level. Some companies, in their attempt to stay in business, have opted to lower their prices, even to levels where they could incur losses.
In Guatemala, for the months when the quarantine was most severe, sales of live cattle were cut in half due to movement restrictions, lack of transportation, and market closures.
Due to the covid-19 outbreak, authorities agreed to impose severe restrictions on the circulation of people during April, May, June, and July, including total closures of the economy during several weekends.
"If we overcome the mental barrier of commoditization, identifying and communicating those added values going beyond our basic proposal, we will have the opportunity to take our profitability to another level."
Ariel Banos, founder of Fijaciondeprecios.com explains that when a proposal is a commodity, in other words, it lacks differentiation with respect to others offered in the market, the only alternative is to align itself with the prices charged by competitors. There are no magic solutions.
Manufacturers and farmers who deliver directly to their homes, Facebook profiles, Instragram, WhatsApp, neighbors or acquaintances who distribute food or household products, are some of the new sales channels that have emerged in this new business context.
The new business normality that emerged in an accelerated manner in Central America, due to the outbreak of covid-19 and the imposition of social distancing measures, favored the conditions for new marketing channels to be born in the different markets.
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,...
Operating Company dedicated to the manufacture of gluten-free and sugar-free products, OHNE brand. The OHNE brand has 8 product lines: square bread, sweet...
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
español
2942