A tough shopping season kick-off
Black Friday and Cyber Monday typically signal the start of the holiday shopping frenzy worldwide. Despite their popularity in Latin America, the 2022 holiday season saw a decline in online sales due to the resumption of physical stores and the increasing inflation rates. For the first time since reporting figures, Brazil experienced a decrease in online sales during Black Friday and CyberMonday. Likewise, during CyberMonday — held in some countries as Cyberlunes — Chile witnessed a drop in sales revenue and transactions of about 24 percent each. Although in Argentina CyberMonday revenues continued to increase, interest in this event seems to have stagnated.Hot Sale: the mid-year shopping spree
On top of holiday season promotions, several Latin American markets have also incorporated mid-year sales days into their e-commerce calendars. In 2014, the Mexican Association of Online Sales and the Argentine Chamber of Electronic Commerce launched the Hot Sale, a discount event aimed at boosting e-commerce, and the bet has paid off. In 2022, Mexico’s Hot Sale generated about 23.2 billion Mexican pesos in online sales and attracted roughly 12 million new buyers. Similarly, Argentina’s campaign also proved successful, with revenues of 42 billion Argentine pesos that year, a 68 percent increase compared to its 2021 edition. In recent years, the digital event has expanded to new territories across the region, occurring on multiple occasions in Colombia, Brazil, Chile, and Peru.
