With three days of record-breaking sales during the Hot Sale event, brands are looking to continue the momentum by extending their online offers until Sunday as part of the Hot Week. This event is considered one of the most important in the sector’s commercial calendar, alongside Cyber Monday. While the official Hot Sale event organized by the Argentine Chamber of Electronic Commerce ended on Wednesday, many brands have decided to continue their sales beyond the designated dates.
The current economic recession has led to increased competition among the 984 stores participating in the CACE event, resulting in launching 15,000 “mega offers” and “bomb offers” with various promotions and benefits. To attract consumers, companies are offering discounts of up to 70%, 2-for-1 deals, and interest-free installment plans. Many businesses have excess stock that they are eager to sell due to devaluation of currency.
One key factor that contributed to the success of the Hot Sale event was financing options such as credit cards, virtual wallets or bank transfers. In particular, consumers opted for 12 interest-free installments payment plan which helped drive sales for many businesses including those specializing in digital marketplaces like PrestoTienda and avenida+.
Another company Apera noted that bank stores once again offered 12 and 18 installment payment plans during the event after months of limited financing options due to high interest rates. This change led to exponential growth in sales compared to previous years. According to AI firm Tabola Mercado Libre saw a significant increase in page views during the Hot Sale event with over 3.5 million products on offer and various financing options available to consumers.
Overall, strategic consumer behavior played a big role in driving sales during economic challenges with many users focusing on savings and making intelligent purchases during this time period it was also seen that fast shipping was very important for customer satisfaction
