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Hot Sale 2024 Sees 15.3% Increase in Sales Over 2023

mexicobusiness.news 2 days ago

Hot Sale 2024 achieved a total of over MX$34.5 billion in sales during the discount campaign, representing a 15.3% increase from 2023. The retail sector experienced 15% growth, with the average ticket size reaching MX$2,931.

The Mexican Association of Online Sales’s (AMVO) report highlighted that credit and debit card usage remained steady at 40%, while there was a notable rise in  interest for installments payments without cards, favored by 60% of shoppers through Mercado Pago. Discounts ranging from 5% to 40% were the most popular, and 20% of shoppers preferred interest-free installments and free delivery with a minimum purchase. Trust in the campaign remained high, with 85% of shoppers feeling secure or very secure about their purchases.

“Despite the campaign's success, some areas for improvement were identified,” says the AMVO. Half of the non-buyers felt that the offers and discounts needed to be more attractive. There was also a decreased need for additional financing options and enhanced payment security. The campaign saw a 121% increase in web traffic to participating sites compared to the previous week, with 67% of visits coming from mobile devices. Traffic remained stable throughout the campaign, with 45% of visits occurring in the last four days.

The typical Hot Sale shopper, in terms of demographics, was characterized by a balanced gender distribution and an average age of 37 years. Geographically, 50% of shoppers were concentrated in the central region and Mexico City, with increased participation from the southeast and lower socioeconomic levels. In 2024, 60% of shoppers opted for the digital channel exclusively, while 30% preferred omnichannel shopping. Key factors for choosing the digital channel included promotions and the ability to see other shoppers' experiences, though traditional e-commerce benefits like time savings and home delivery became secondary.

In social media advertising, A+ rated content generated 65.8% of the event's interactions with only 3% of the total content, showing that an A+ post can generate 21.9 times more interactions than an A-rated post. Despite the rise in live shopping events between 2018 and 2022, there was a noted decline in brand interest in these events and collaborations with macro-influencers in 2024, reducing their frequency compared to the previous year.

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