They are, for the most part, between 18 and 49 years old, they buy fashion and technology products, but they also demand beauty and personal care categories. They are protagonists of one of the two e-commerce events (along with the Hot Sale) that most attract consumers: the Cyber Monday.
To measure its relevance, according to data from the Argentine Chamber of Electronic Commerce (CACE), this year more than 900 brands, of which 27% are from the interior of the country and more than 100 are joining the action for the first time. “In the beginning there were few companies and this type of event functioned as a boost to the sector, with sectors such as tourism, household appliances and clothing as main ambassadors,” says Andrés Zaied, president of the CACE.
But the pandemic accelerated the growth of e-commerce and, since then, there has been an evolution in purchase orders. For example, on Cyber Monday 2019, 2 million purchase orders were registered while in the last edition (2022) that number doubled, reaching 4 million.
History. Born in 2005, it grew over the years and It was installed as a sales tool expected by local and global consumers. History indicates that 18 years ago, businessmen from the United States retail trade association took advantage of the peak in online sales detected on the Monday after “Thanksgiving” to launch a new campaign.
Until then, people used the first business day after that holiday to visit the sites of their favorite stores and find discounts they might have missed on Black Friday. So, the National Retail Federation (the largest retail association in the world) decided to give this day an official name: Cyber Monday.
“Purchase planning and financing are aspects that we already saw reflected in the Hot Sale and that are intensifying ahead of Cyber Monday. Fees are one of the motivators and credit cards are positioned as the preferred payment method. While Technology stands out in terms of purchase intention (45%), explains Evangelina SuarezCommercial Director of the Retail Industry for Google Argentina.
According to a Google survey, conducted in August 2023, 45% of people intending to purchase on Cyber Monday take advantage of the event to purchase gifts during the end of year season. This reflects that a large part of the operations are planned and, among these users, there are those who focus on looking for the best offers (38%, and those who research and make purchase lists beforehand (33%), the survey adds.
Zaied assures that the prominence of this type of event is due to the fact that “over the years, it became an ally for the pockets of consumers who wait for this moment to access purchases with better benefits. It is also an opportunity for brands, given that they are three days in which consumption increases, acquiring greater arrival and visibility”.
On this point there is a coincidence. “This not only ensures customer satisfaction but also provides significant benefits to businesses. Preparation involves optimizing technology infrastructure, ensuring inventory availability, and delivering a seamless user experience. The benefits for companies are clear: increased revenue, customer loyalty and a strong competitive position in the market,” express Patricio PescioCEO of Quilsoft (company that provides digital transformation services and technological solutions).
Burst. For Mauro Gurdulichmanaging director South Latam by clicOH (a comprehensive e-commerce logistics startup), “There is no event of this type more important than Cyber Monday or the Hot Sale in Argentina and it is the axis through which many logistics innovation decisions pass. Aggregate demand usually grows more than 50% in relation to the weeks prior to the event and in some cases for high-rotation products it usually doubles or triples depending on the attractiveness of the promotions offered by sellers.”
Pablo Aperiodirector of Travel Services, is another of those who highlights the relevance of the event: “From originally being a 100 percent digital event, Cyber Monday has transformed into an omnichannel shopping catalyst. And for travel agencies, the three official days represent an enormous flow of assisted sales that are generated by calls or queries that advisors must answer.. Today it is key that the end user or client finds a person behind all this agility that digitalization brings us. A Cyber Monday multiplies the usual sales of a normal week five times. Therefore, it is key to participate. “, Aperio expands.
E-commerce has experienced exponential growth in both the local and global business world and has established itself as an integral part of consumers’ daily lives. YesAccording to data from the CACE, derived from the Mid Term 2023 study, (which measures the first semester), the country’s digital business industry had a turnover of about $2.5 billion, which represents an increase of 125% compared to the same period of the previous year. This massive increase in e-commerce adoption becomes even more evident during the annual Cyber Monday event, where consumers flock to online platforms in search of irresistible deals and discounts. As the years go by, the phenomenon, far from finding a ceiling, does not stop growing. The digital monkey moves mountains.
by Marcelo Alfano
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