The Hot Sale is an initiative promoted by the Mexican Association of Online Sales (AMVO) to stimulate electronic 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 been positioned as an opportunity for companies (and mainly SMEs) to join and grow their sales online.
For this 2020, in Mexico it will take place 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 2018 record (MXN 8,000,000). In a country with almost 83 million Internet users (with data from the Mexican Internet Association) and with a growing e-commerce ecosystem, that 13 million people connected in 2019 to buy online in a given period, has been a great step towards the adoption and massification 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% lower than that of the Hot Sale week in 2019. So, with the country in a Healthy Distance Period, suspension of non-essential activities and the largest retail stores closed, we would expect sales to rebound even more this year.
The AMVO also stated that the categories that generated the most interest among Internet users in the past years are electronics (53%), fashion (42%), toys and video games (30%) and furniture and home (27%).
Prediction: It will be very interesting to analyze what variations there will be this year when the population is in quarantine and their purchasing habits and needs are altered. Some data reported by Google regarding search trends and consumer interests in other countries such as the United States, could indicate that kitchen utensils and appliances, garden products and home sports equipment / accessories will be the kings.
What should we measure in Hot Sale?
His tips or recommendations that he shared in this Webinar for a data driven marketing approach during Hot Sale are the following:
- You have to make sure that everything is correctly labeled well before the deadline and that the data that I am going to collect is reliable. There is no point in correcting data collection on the fly.
- We must make a good plan of how to collect the data of the paid investments. It is money that goes quickly and in a short time. The media plan must be well structured and defined how and what is going to be measured.
- You have to design the measurement model to make sense of the funnel. For example, there will be companies that make decisions by the hour and they will have to make sure that the data flows at that speed. Or there will be other smaller brands that will be able to do reviews 2 times a day and rather monitor that the attribution model they have chosen is something that they understand beforehand to monitor it correctly.
The most important thing is that it is not only measuring, you also have to analyze and activate the data. And that this data has been collected before Hot Sale. Doing this will allow us to better understand and analyze customers to personalize experiences, reach through the right channel, make conversion predictions or detect audiences and their reaction to our messages.