The year-end season is one of the most important times for e-commerce in Latin America, with events such as Black Friday, Cyber Monday, the Buen Fin in Mexico, and of course, Christmas. During these events, there is a significant increase in online traffic and consumers’ willingness to buy and spend. Therefore, it is crucial for e-commerce companies in the region to have a well-planned and executed strategy to maximize sales.

Importance of the Year-End Season

Black Friday and Cyber Monday are shopping events that originated in the United States, but have gained popularity around the world, including Latin America. El Buen Fin is a similar event in Mexico, which is held one weekend before Black Friday. During these events, many online retailers offer special discounts and promotions to attract consumers.

In 2023, Black Friday will be held on November 24, Cyber Monday on November 27, and El Buen Fin from November 17-20. Christmas, of course, is celebrated on December 25, but holiday shopping usually starts from Black Friday and continues until the last minute.

These events are crucial for year-end sales for companies playing within the e-commerce territory. According to a report by the Colombian Chamber of Electronic Commerce (CCCE), online sales during Black Friday and Cyber Monday in 2022 increased by 35% compared to the previous year. In addition, according to the Mexican Online Retail Association (AMVO), the Buen Fin generated more than $2 billion in online sales in 2022, a 30% increase compared to 2021.

Strategies to Improve Online Sales

To maximize online sales during the year-end season, it’s important to have a well-planned and executed strategy. Here are some key strategies that we have prepared from AsylumX, Asylum’s specialized eComemrce and Performance unit, so that eCommerce companies in Latin America can prepare to improve their sales during this season:

1. Website Optimization: Use platforms such as VTEX or Shopify, which are designed to handle a high volume of traffic and offer an optimized user experience. These platforms also offer integrations with a variety of marketing and inventory management tools, making it easy to optimize your e-commerce strategy. In addition, it is important to make sure your website is search engine optimized (SEO) to attract organic traffic and ideally, have built in a special landing page for events such as Black Friday or Cyber Monday that will last over time.
2. Special Offers and Promotions: Offer special deals and promotions during the key dates of the year-end season, otherwise, your competitors will do it and keep the transaction. This can include discounts on specific products, free shipping offers, or free gifts with purchase. An eMarketer report in 2021, indicates that 94% of online shoppers use some type of coupon or discount. Some specific tactics that can be implemented include: offering an additional discount to customers who purchase more than one item, offering a free gift with the purchase of a specific product, or offering a discount on shipping for orders over a certain amount. However, the depth of the discount and above all better prices than the regular season, is what the shopper is looking for.
3. Paid Ads or Online Advertising: In addition to paid advertising on Social Networks like meta (Facebook and Instagram) or search engines like Google, consider using new platforms like TikTok and Pinterest, which are gaining popularity among younger consumers. Also, consider using conversion-focused campaigns like Google’s PMAX, which optimizes your ads to maximize the likelihood of conversion. During this season, remarketing lists and your audiences stored in your DMP or Pixel will be fundamental to work the last stage of the conversion funnel and, above all, to reach audiences that already know your brand or have even bought from you.
4. Email Marketing: Use email marketing to keep your customers informed about your offers and promotions. Be sure to segment your email list to send personalized and relevant messages. Email marketing is especially cost-effective for activating ‘1st party data’, that is, data from customers who have already purchased from your site and know your brand. According to a Shopify report in 2022, email marketing has a return on investment (ROI) of $42USD for every $1USD spent.
5. Inventory Management: Make sure you have enough inventory on hand to meet demand during the year-end season. According to an IBM report in 2021, 41% of shoppers will abandon a website if the product they are looking for is out of stock. It is also important to have an efficient inventory management system to avoid overselling and generating a bad experience with shoppers.
6. Customer Service: Offer excellent customer service to resolve any problems or queries your customers may have. This includes having multiple communication channels available, such as online chat, active whatsapp channel, a phone line and a visible email on your site in order to provide support. According to a Microsoft report, 96% of consumers worldwide consider customer service important to their choice and especially brand loyalty.
7. Shipping and Delivery: Offer flexible and reliable shipping options to ensure products arrive on time. It is also important to clearly communicate delivery times and any associated shipping costs. According to a report by Pitney Bowes, 93% of online consumers consider the shipping experience important to their overall satisfaction, on the other hand, consider working with integrator platforms such as Melonn, Enviame or third party logistics (3PL), this helps brands become more efficient in shipping and delivery management.
8. Analytics and Measurement: Use web analytics to monitor the performance of your website and digital marketing campaigns. This will help you identify areas of improvement and optimize your strategy in real time. According to a report by Adobe, companies that use advanced analytics are 39% more likely to perform above average in their industry. It is vital that companies have well configured tools such as Google Analytics 4, the latest version of this web analytics tool.
9. Presence in Marketplaces: Marketplaces such as Mercado Libre and Amazon are fundamental in the world of e-commerce in Latin America. According to an eMarketer report, Mercado Libre was the most visited marketplace in Latin America in 2022, with more than 200 million unique visitors, in addition, it is estimated that 1 out of every 2 purchases made through eCommerce, are made through Marketplaces, which is why having a clear strategy and being able to play in this territory, is key to participate in 100% of the cake.
10. Use of CDPs (Customer Data Platforms): Using customer data management platforms such as SALESmanago, of which Asylum Marketing is a Diamond Partner, is essential to unify and activate customer data in real time. CDPs allow companies to collect, process and unify data from multiple sources to create a single customer profile. This, in turn, allows companies to personalize their marketing offers and communications, resulting in a higher conversion rate and increased customer lifetime value. In addition, SALESmanago offers marketing automation functionalities, allowing companies to automate multichannel marketing campaigns based on customer behavior. According to a Forrester report, companies using CDPs can increase their conversion rate by 20% and their customer lifetime value by 30%.

In conclusion, the year-end season is a crucial opportunity for companies involved in e-commerce sales in Latin America to maximize their sales. Implementing well-planned and executed strategies, such as website optimization, special offers and promotions, online advertising, email marketing, inventory management, customer service, shipping and delivery, analytics and measurement, and participation in marketplaces, will help companies succeed during this season.

If you want us to support you in your marketing strategies focused on eCommerce and Performance, leave us your contact information in this link and we will contact you.