Hot Sale is an initiative promoted by the Mexican Online Sales Association (AMVO) to stimulate e-commerce in Mexico. From its first edition in Mexico in 2014, to its editions in Latin American countries such as Argentina, Colombia, Chile and Brazil, the Hot Sale has positioned itself as an opportunity for companies (and mainly SMEs) to add and grow their online sales.
By this 2020, in Mexico will be held from May 22 to June 1 and in a context marked by the health crisis, today more than ever this event seems to be an oasis in the desert of sales.
Figures and its 2020 prediction
For its 2019 edition in Mexico, AMVO reported that this event generated sales of more than 11 million Mexican pesos, thus breaking its own record of 2018 (MXN 8,000,000). In a country with almost 83 million netizens (with data from the Mexican Internet Association) and with a growing e-commerce ecosystem, which 13 million people connected in 2019 to buy online in a certain period, has been a big step towards the adoption and masification of this activity on the Internet.
Prediction: Erik González, Data & Analytics Manager at Extendo, analyzed data from our customers and tells us that the volume of online purchases in the last 6 weeks is 20 less than that of the hot sale week in 2019. So, with the country on a Healthy Distance Day, suspension of non-essential activities and the largest closed retail stores, we would expect sales to pick up even more this year.
AMVO also stated that the categories that generated the most interest among internet users in past years are electronic (53%), fashion (42%), toys and video games (30%) and furniture and home (27%).
Prediction: It will be very interesting to analyze what variations will occur this year when the population is quarantined and their shopping habits and needs are altered. Some data reported by Google regarding search trends and interests of consumers in other countries such as the United States could indicate that kitchen utensils and appliances, gardening products, and home sports equipment/accessories will be kings.
What should we measure?
Hebert Hernández, our CEO, recently participated in the AMVO Webinar “Make your brand attractive. Marketing tips to sell more during Hot Sale”. And during this exchange of views between industry leaders and experts, Hebert shared his view of the importance of data before, during and after this event:
Your tips or recommendations that you shared in this Webinar for a data driven marketing approach during Hot Sale are as follows:
- You have to make sure that everything is properly labeled long before the deadline and that the data I’m going to collect is reliable. It’s not worth correcting data collection on the fly.
- We must make a good plan on how to collect data from paid investments. It’s money that goes fast and in no time. The media plan has to be well structured and defined how and what is to be measured.
- The measurement model must be designed to make sense with the funnel. For example, there will be companies that make hourly decisions and will have to make sure that data flows at that speed. Or there will be other smaller brands that will be able to make revisions 2 times a day and rather make sure that the attribution model they have chosen is something they understand from before to monitor it correctly.
The most important thing is that not only is measuring, you also have to analyze and activate the data. And that this data was collected before Hot Sale. Doing so will allow us to better understand and analyze customers to personalize experiences, arrive through the right channel, make conversion predictions or detect audiences and their reaction to our messages.