After the boom in online sales during the pandemic, and despite the impact of inflation and the increase in the dollar in your pocket, E-commerce resists: According to a private study, 17% more net sales were recorded in 2023.
Argentinians buy more online, but the tickets demonstrate the decline in purchasing power: on average, transactions amounted to $25,402, an increase of 144% compared to what was recorded in 2022 and significantly lower than the inflation accumulated over the last year. The data comes from the latest NubeCommerce 2023/2024, processed by the Tiendanube platform, which also shows how consumer habits have changed.
The study analyzes data from the 45,000 stores and brands they sell through this e-commerce platform, which in In total, they had about $335 billion in revenue last year.which in real terms also implies a slight decline in total billings, since this amount is 186% higher than what was recorded in 2022, when total inflation reached 211%.
“E-commerce in Argentina has significant growth potential in the coming years. With penetration still relatively low compared to other countries, there is ample room for expansion and innovation in this sector. According to Statista, the market value generated by e-commerce is expected to double between 2023 and 2028,” said Franco Radavero, Country Manager of Tiendanube in Argentina.
“For brands, this presents a unique opportunity to reach broader audiences, both nationally and internationally, overcoming geographic barriers and reaching consumers who would otherwise be inaccessible,” he says.
Tiendanube data may also reflect the behavior of Argentines’ pockets. To make purchases, 78% of people do so using their mobile phone, while 57% prefer to pay by credit card. As regards financing conditions, in the first half of the year over 70% of purchases were made in a single payment, while in the last quarter payments in three installments prevailed.
If you analyze it from top to bottom, 65% of Argentines chose to pay in a single installment, 23% in three and just 3% with plans of 12 or more installments.
The item that recorded the greatest growth in sales was sports, followed by toys and pets, which ended the year with an increase of 18% and 12% respectively. Other more traditional online shopping items, such as clothing, decorations or health and beauty products, have seen a more moderate increase over the past year.
Although 34% of sales were made with free shipping, as logistics costs have become higher, the ability to pick up the product in the seller’s physical store or warehouse has increased.
Unlike the previous two years, I collect in a physical store, warehouse or location. In 2023, 24% of purchase orders arrived in the hands of consumers in this way, 9% more than in 2022. However, home delivery continues to be positioned as the most chosen option by 76% of consumers Argentinians.
Finally, the report highlights the growth in the use of Artificial Intelligence on the platform. In 2023, Tiendanube opted for innovation through the acquisition of Perfit, a marketing automation solutions provider that facilitates the management, segmentation and sending of emails to contact lists or email databases in a way personalized. According to the company, brands that used this feature increased sales by 17%.
SN
Source: Clarin
