Latin America’s ‘HOT Sale’ e-commerce event: 5 Tips for Boosting Sales
Hot Sale is one of the biggest online shopping events in Latin America. During Hot Sale, multiple brands and retailers offer discounts through their websites or online marketplaces. In a bid to encourage online sales, these discounts are only available online during the Hot Sale event.
This annual event is officially held in multiple countries, such as Argentina, Mexico, and Colombia, and is managed by trade organizations such as Cámara de Comercio Electrónico in Argentina, Asociación Mexicana de Ventas en Línea in Mexico, and Cámara Colombiana de Comercio Electrónico in Colombia. Other countries such as Brazil, Chile, and Peru also participate, but they do not strictly use the name “Hot Sale” although they offer attractive discounts during these days.
For global sellers, participating in Hot Sale can be a powerful way to attract new customers, boost sales, and increase visibility in the market. In this article, we will discuss the benefits of participating in Hot Sale, and provide tips on how to make the most of this exciting event.
When is HOT sale?
Hot Sale is an annual event, and the starting date varies by country. In Argentina, Hot Sale 2023 will be held on May 8th, 9th, and 10th. In Mexico, Hot Sale will run from May 29th to June 6th. Although the event lasts for only a few days, marketplaces and online stores take advantage of the hype and often extend the discounts for the entire month, similar to Black Friday.
What are the benefits of participating in Hot Sale?
- More sales: Participating in Hot Sale will undoubtedly bring you more sales. Year after year, awareness of this commercial day is increasing, and more and more Latin Americans are looking to buy products with discounts. According to AMVO, Hot Sale in Mexico surpassed 1.5 billion USD, representing an increase of 25% compared to the previous year. In Argentina, the event saw a 10% increase in purchase orders compared to the previous year, with the highest brand participation since 2014. A survey conducted by Mercado Libre during the first 24 hours of Hot Sale showed that the platform had a record of sales, with over one million transactions, representing an increase of 21% compared to the first day of the previous edition.
- More exposure: Online product searches skyrocket during May and June. By participating in Hot Sale with discounts, your products will become much more visible, and your brand will gain recognition. The AMVO reported more than 110 million searches related to Hot Sale, demonstrating the huge amount of online traffic and searches.
- Using Hot Sale to Prepare for Major Sales Events: Hot Sale is a great opportunity to discover which products will sell the most when discounted and to test your customers’ preferences. By participating, you can prepare for other major events like Black Friday, El Buen Fin, or Cyber Monday.
HOT Sale: 5 tips for Success
It’s important to prepare your sales strategy as even higher traffic is expected in the 2023 edition. These tips will help you be better prepared and take advantage of the HOT Sale’s great popularity.
1. Be present in multiple sales channels:
Multiple marketplaces participate in Hot Sale, offering various discounts, coupons, and promotions. Last year, the five most visited sites were Mercado Libre, Amazon Mexico, Coppel, Walmart, and Carrefour. All of them registered millions of visits during the campaign. By listing your products on more than one platform, you increase your chances of boosting sales. Remember that in Latin America, it’s essential to diversify your sales channels to reach a larger market share.
2. Optimize your listing for the market:
To maximize success during Hot Sale, it’s crucial to analyze consumer trends and identify the products with the most potential for sales. According to rankings from both the Argentinian and Mexican chambers, the most sought-after categories during Hot Sale were, in order: clothing, electronics and technology, furniture, home decor, sports and fitness, cosmetics and beauty, and toys. The categories which experienced the biggest increase in sales compared to last year’s edition were: home, furniture, and garden (16.5%); clothing and accessories (23%); beauty and personal care (37.6%); sports and fitness (50.6%); and small appliances (73.9%).
3. Revise pricing strategy:
To maximize your sales during the Hot Sale event, it’s important to review your prices and consider offering discounts on your products. According to the AMVO, promotions, and discounts were the top reasons that motivated consumers to make purchases during the event. On average, online discounts offered during the event were around 14%, which has remained stable over the past two years. Among the different types of promotions, discounts ranging from 21% to 40% were the most popular among consumers.
4. Marketing Campaigns:
In addition to offering attractive discounts to increase traffic to your store, it’s essential to advertise your products. Marketplaces such as Mercado Libre offer several options to ensure that your target audience sees your products. At nocnoc, we have extensive experience in running successful marketing campaigns, and we guarantee that with a good strategy, sales can increase by up to 500%. Another good alternative is to use influencers, but caution is required. Before hiring any influencer, you need to investigate their reach and the products they promote. If you invest in an influencer without knowing their estimated click-through rate or views and whether your target audience is part of their followers, you will be wasting money.
5. Maintain a good reputation online:
Last but not least, maintaining a good reputation is essential for success. There are certain things that you must do to maintain a good reputation, such as replying to customer concerns promptly, providing timely deliveries without any issues, and ensuring accurate information about your products. Sellers who fail to respond to concerns on time, do not update their product information regularly, or lack the resources to offer timely deliveries, are likely to end up with a negative reputation and poor conversion rates. Besides, you must be active on different platforms such as Reclame Aqui, which gives customers the possibility to make peer-to-peer reviews and post complaints.
Start selling in Latin America for HOT Sale
What are you waiting for to start selling online in Latin America? With nocnoc, expanding your business to LatAm can be done in under 48 hours. You will be able to offer your products to over 485 million consumers on special days such as HOT Sale, Black Friday, and Christmas!
All you need to do is sign up here, and you’ll be able to sell your products on the largest cross-border store in Latin America, featuring your products across 15 marketplaces.
We’ll manage all the listings across these marketplaces, handle all communications with consumers, last-mile deliveries, cancellations, returns, customs, and create effective marketing campaigns to boost your sales.
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