Year-End Is Main Period For Online Shopping

The vast majority of Colombians, some 75%, plan to shop online in the next six months.

This is the conclusion of a new research report from LoEncontraste.com and market research unit of El Tiempo. It shows that year-end sales are vitally important for many businesses and that they plan their year accordingly.

The figures also suggest that in the month of December alone, most retailers can expect to achieve 35% of their total sales for the year. And of this total, 20% will be made online, a trend which is increasing every year.

Last year, e-Commerce transactions in Colombia totalled around US$3.2 billion.

What’s more, although December is very important for e-Commerce operations in the country, November is crucial as well. Not only do shoppers use the month to check products, compare prices and make key decisions, but it also contains a period in which the majority of purchases are made, between 27 and 29 of November, supported by such promotions as Black Friday.

All this means is that December dictates how many businesses plan their strategies for the whole year, which makes e-Commerce operations an increasingly attractive proposition for investors.

Online shopping also favours SMEs, which can often see growth boosted by over 20% in the last two weeks of November and by over 15% in December alone.

Other e-Commerce industry reports show that within LATAM, the value of e-Commerce sales will likely be more than US$59bn in 2015.

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References: El Tiempo