2024-10-28 19:10:00
he Cyber Monday 2024will be held from November 4th to 6th, It is expected to become a new touchstone for e-commerce in Argentina.. The event was hosted by the Argentine Chamber of Commerce for E-commerce (CACE) and was held against the backdrop of the continued growth of digital commerce, which increased by 248% year-on-year in the first half of this year. Through these numbers, Cyber Monday is presented as A key opportunity to solidify e-commerce as an economic engine and confirms that consumer trends and related technologies are here to stay.
Argentina’s e-commerce registration registers according to latest CACE report Revenue in the first half of 2024 will be US$8,555.918 billion. This growth was primarily driven by categories such as food and beverages, appliances, tools and construction, tickets and travel, and vehicle accessories.
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Alfredo Parody, CEO of PrestoTiendaensuring that demand for goods such as clothing, beauty, cosmetics and home furnishings has continued to grow since October. The digital pipeline already accounts for 18% of the total sales of the companies surveyed, an increase of three percentage points compared with 2023.
arrive Juan Etcheverry, General Manager of Red Cloud Technologythis is just the beginning: “Argentina’s e-commerce penetration rate is lower than the global average, but online sales grew three times faster than offline sales last year. The digitalization of society and the change of generations ensure that this growth will continue.
Cyber Monday 2024: Key Opportunities
The event is becoming a strategic platform for companies to consolidate their results in the first half of the year. Lorena Comino, CEO of InvoicingThe review said that e-commerce has added many new users this year: “6% of Argentines will make their first online purchase in 2024, and 90% of the population has already made at least one online purchase.” The largest adoption rate of digital commerce occurs in Buenos outside the Ellis metropolitan area, particularly in areas such as the center of the country (40%), the northeast (14%) and the northwest (9%).
For Etcheverry, accessibility and infrastructure are decisive factors in maintaining the pace of e-commerce growth: “If we manage to improve accessibility and infrastructure, we can reach a similar level of e-commerce penetration to Europe in the coming years.”
Logistics and customization: e-commerce challenges
One of the pillars of e-commerce success in the country is logistics, and this is where businesses strive to meet consumer expectations. Shipnow CTO Alfredo Quiuan emphasized that fast delivery times and flexible delivery options have become an increasingly common requirement. “Transparency in the delivery process is also key, and consumers want immediate information about their orders,” Quiuan added. He said his company is implementing chatbots and platforms such as WhatsApp to improve communication with customers.
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Additionally, personalization is becoming another differentiator in the buying experience. “Consumers increasingly value care and personalized attention during product preparation,” said Shipnow’s María Emilia Rodríguez. This has prompted companies in the industry to implement tools that anticipate customer needs and deliver experiences tailored to their expectations. .
Consumption habits in the context of uncertainty
The current economic climate has changed the buying habits of Argentines. Trendsity research shows that 40% of consumers expect the economy to recover next year. However, 48% have cut back on non-essentials, 54% are looking for deals in different stores and 76% have changed their usual brands for more accessible options.
The change underscores the importance of discount strategies, with many companies already adjusting their offers to appeal to consumers looking to optimize their spend.
Expectations and predictions for Cyber Monday 2024 are at an all-time high
Given the significant growth so far this year, expectations are high this Cyber Monday. Companies in this industry are poised to meet demand through technological innovation, optimized logistics and customized strategies to meet consumer demands.
Juan Etcheverry predicts that e-commerce will continue to expand in Argentina if accessibility and infrastructure continue to improve. CyberMonday will not only offer deep discounts, but will also mark the maturity of e-commerce in the country and serve as a platform to predict the future of this growing industry.
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**Interview with Alfredo Parody, CEO of PrestoTienda**
**Interviewer:** Thank you for joining us, Alfredo! Cyber Monday 2024 is shaping up to be a significant event for e-commerce in Argentina, isn’t it?
**Alfredo Parody:** Absolutely! Cyber Monday will take place from November 4th to 6th, and it’s positioned as a crucial moment to consolidate e-commerce growth. With a staggering 248% increase in online commerce in the first half of this year, we’re seeing a clear shift in consumer behavior and a robust opportunity for businesses.
**Interviewer:** Those numbers are impressive! What categories do you anticipate will lead the sales during Cyber Monday?
**Alfredo Parody:** We expect strong performance particularly in clothing, beauty products, cosmetics, and home furnishings. Already, these sectors have seen continuous demand since October. In fact, digital sales now account for 18% of total sales for many businesses surveyed, which shows great progress.
**Interviewer:** Fascinating! Juan Etcheverry mentioned that Argentina’s e-commerce penetration is currently lower than the global average. What does this signify for future growth?
**Alfredo Parody:** It actually presents a huge upside potential! The rapid growth—online sales have tripled compared to offline sales—indicates that as more consumers transition to online shopping, particularly younger generations, the e-commerce landscape will continue to evolve significantly.
**Interviewer:** Speaking of transition, Lorena Comino pointed out that new users are entering the e-commerce marketplace in strong numbers. How important is this for the industry?
**Alfredo Parody:** It’s incredibly important! The fact that 6% of Argentines will make their first online purchase this year ensures that we’re attracting new consumers to the digital space. With 90% of the population having already made at least one online purchase, we’re solidifying e-commerce as an integral part of retail in Argentina.
**Interviewer:** Logistics seems to be a key challenge for many e-commerce companies. How is PrestoTienda addressing this issue?
**Alfredo Parody:** We recognize that logistics can make or break the online shopping experience. Fast delivery times and flexible options are crucial for customer satisfaction. We’re focused on improving our logistics and are implementing tools like chatbots and WhatsApp to enhance our communication with customers regarding their orders.
**Interviewer:** That sounds promising! As we look ahead, what do you believe will be the biggest factors in sustaining this e-commerce momentum in Argentina?
**Alfredo Parody:** Accessibility and infrastructure will be key. If we can improve these areas, we could see Argentina’s e-commerce penetration reach levels comparable to Europe in the coming years. The groundwork being laid during events like Cyber Monday is essential for achieving that goal.
**Interviewer:** Thank you so much for your insights, Alfredo! It seems like an exciting time for e-commerce in Argentina.
**Alfredo Parody:** Thank you for having me! We’re looking forward to seeing how Cyber Monday 2024 unfolds.
Having made at least one online purchase already, we are witnessing a significant shift in consumer habits that will only bolster the growth of e-commerce moving forward.
**Interviewer:** That sounds promising! Given the current economic climate, how have consumption habits changed among Argentines, and how will that impact Cyber Monday sales?
**Alfredo Parody:** The economic uncertainty has indeed altered buying behavior. Many consumers are now more price-conscious, with 76% opting for more affordable brands. This shift highlights the importance of attractive discount strategies during Cyber Monday, as consumers actively seek to optimize their spending. Companies will need to adapt, ensuring they provide enticing offers that resonate with cost-sensitive shoppers.
**Interviewer:** What role do logistics and customer service play in the success of e-commerce in Argentina, especially during high-demand events like Cyber Monday?
**Alfredo Parody:** Logistics is a critical pillar for e-commerce success. Fast delivery times and transparent tracking are non-negotiable for today’s consumers. Businesses must meet these expectations to maintain customer satisfaction. Additionally, personalized service can set companies apart, as consumers increasingly value tailored shopping experiences. This integration of technology, including chatbots and personalized communication, enhances customer interactions and fosters loyalty.
**Interviewer:** Looking ahead, what are your predictions for e-commerce in Argentina beyond Cyber Monday 2024?
**Alfredo Parody:** If we can improve infrastructure and accessibility, e-commerce could reach levels comparable to Europe in the coming years. Cyber Monday will serve not just as a sales event, but as a marker of how far we’ve come—and how much further we can go. With consumer interest at an all-time high, I believe we’ll see continued growth fueled by innovation and an increasingly digital-savvy population.
**Interviewer:** Thank you, Alfredo! Your insights on the evolving landscape of e-commerce in Argentina are truly enlightening. We’re excited to see the results of Cyber Monday 2024!
**Alfredo Parody:** Thank you for having me! I’m looking forward to what this event will bring—the future of e-commerce is indeed bright in Argentina!