This week, results of the Buen Fin and Black Friday insights. Here’s your summary of the most relevant consumer insight research in Latin American markets. If you’re trying to keep up with the latest happenings, this is your one-stop shop. Check out the previous Latam Consumer Insights Roundup here.
- According to e-commerce company Mercado Libre, Black Friday is an important day for online retail in Colombia. The company’s data shows Colombian consumers might spend up to 22% more in average than last year, and 70% of Mercado Libre users are expected to complete their purchases on mobile devices. The top categories are expected to be electronics and clothing.
- Kantar has announced a 14% increase since 2017 in participation in the Buen Fin, which took place last weekend in Mexico. While Kantar estimates that 80% of Mexican consumers took part in the Buen Fin in 2017, 94% engaged in purchases this year. To get informed about sellers’ offers, 84% of consumers went to a website, 71% chose social media, and 53% headed directly to the stores.
- According to the Mexican Secretary of Commerce, Services and Tourism, Buen Fin had much better results than last year. Total sales amounted to over 120 billion pesos, almost 8% more than last year. Also, it was indicated that 63% of consumers made their purchases in cash.
- However, the good results are due to consumers spending more, and not necessarily because there have been more shoppers. Mexico’s Profeco has announced that only 40% of the population made a purchase during the Buen Fin, and 26% of those consumers bought clothes or shoes. The Secretary of Economy outlined that other popular products were electrical appliances, TV screens, multimedia devices, and furniture.
- A survey by VTEX has concluded that e-commerce sales in Chile have decreased by 70% after the start of the political crisis on October 18th. Reportedly, numbers were positive up to then.
- Research by IPSOS and Comscore Mexico has found that during Q1 2019, 67% of Mexicans had access to cable or paid broadcast TV, 80% had access to national broadcast TV, and 75% could access the internet. In addition, only 25% of those exposed to paid TV don’t have an internet connection. On the contrary, only 32% of the online population aren’t consumers of paid TV.