Within the framework of the next CyberMonday, which will take place from October 31 to November 2, Google presents a study together with Ipsos to know how consumer behaviors and habits evolve in Argentina: the main factors that are taken into consideration from the moment of previous research to purchase, the role of the digital world and opportunities for improvements for companies and businesses. To understand how these trends take place, for the company it is important to consider the relevance of e-commerce so that more brands can approach customers and new consumers and this is explained by Evangelina Suárez, Commercial Director of the Retail Industry for Google Argentina: “If there is something that these last years left us, it was a series of changes. We witnessed e-commerce grow on an unprecedented scale. Today 59.8% of the population in Argentina buys online and it is expected that I will reach 62.2% by 2026. So much so that e-commerce sales went from representing 3.6% of total retail sales in 2019 to 11.1% in 2021. This shows how consumer habits changed. Many of these new habits are here to stay.” And he adds: “That’s why, from Google we believe in all the potential that technology has – and tools such as automation – to generate more business opportunities competitively and efficiently.”
Argentina is the Latin American country with the greatest interest in discount events that are coming for the end of the year, this includes Cyber Monday, Black Friday and Christmas and New Year. In fact, 48% of Argentines plan to make a purchase during these dates and at least 70% of these will be looking for the best discounts. At the time of consumption, different types of behaviors are generated: 39% of people in the country will take the opportunity to buy gifts or indulge and in turn, 61% will try to anticipate looking for discounts and buying before prices rise. For this, time also plays a key role. These purchases will be planned for the most part 36 days before the event, which is when shoppers will start looking for products and 37% will only buy based on how good the discounts are. In this sense, omnichannel continues to gain ground: 77% of buyers plan to combine online and offline channels. The search for the products will include comparing categories, brands and businesses and even considering other people’s opinions. In Argentina, 50% of people visit different stores and websites to compare between different brands of items and stores. And 23% who search for various products on the Internet, do so to read reviews and opinions. Suárez comments: “Without a doubt, the online world is now a window for shopping. Therefore, we believe that brands can take advantage of the best of both worlds – physical and digital – generating complementary business strategies. To carry them out, we work every day with companies to accompany them on this journey of transformation”. Regarding the means of payment that they will use the most, 35% of people in the country plan to pay with cash or debit cards, 32% with credit card and 28% with electronic payment. On the other hand, at the local level, having communication channels for these moments of purchase will be very important, since 51% of Argentine buyers declare that they cannot find good promotions or discounts, while 37% consider that there are not always products available and 34% think that the price remains the same as before the discount season. In this sense, the key will be that businesses can make their inventory available, provide more alternatives or variety of products and increase the exposure of participation in discount events.
In the country, Cyber Monday is one of the most well-known events (82%), followed by BlackFriday (82%) and finally, Christmas and New Year (71%). Now, how are people in Argentina preparing for the next Cyber Monday on October 31st? 57% are thinking about acquiring gifts for friends and family, followed by items they need and have not been able to buy (46%), items they need to replace (42%). And in the last places, gifts for themselves (39%) and for their pets (22%). Three weeks before the event, search trends in Google Argentina are led by the Fashion category (clothing, accessories and footwear), leaving everything related to Technology in second place. In fact, as we delve into more popular items during October, people become more interested in products such as cell phones, costumes, sneakers, sports shirts, thermoses and perfumes. Football, one of the most relevant topics
Purchase preference in these discount seasons can also be affected by locally relevant events. And football is one of the hottest topics in Argentina. In fact, according to the report by Ipsos, 72% of Argentines are waiting for the World Cup to start and 45% plan to meet with friends to watch the games. In this way, the product categories that are most expected to be purchased for November and December are:
Food & Drinks
TV, video and sound
Apparel & Accessories
Subscription to TV services
Cell
Recommendations for brands and businesses
Given this context, Google provides three tips so that companies can get the most out of the online world for Cyber Monday but also for the end of the year holidays, where great shopping moments are generated. First, make the most of machine learning to generate business profitability in a scalable and effective way. Secondly, brands need to ensure the best possible experience for their customers: it must be fast, easy, fluid and useful from the consumer’s point of view. It is then important to consider the application strategy, to provide an optimized experience and higher conversion rates. This helps develop your First Party Data, which is so critical as you move towards a cookie-free world. Finally, it is essential to deliver a good experience and thus retain customers over time. This means being data-smart, understanding customer segments, and delivering enjoyable, frictionless experiences.
