SÃO PAULO – DECEMBER 18, 2023 – As the Black Friday frenzy winds down in Brazil, the year is far from over for the country’s e-commerce sector,
On the contrary, retailers are rushing to capitalize on the surge in Christmas shopping demand, making this period crucial for boosting sales ahead of the peak season at the end of 2023.
In Brazil, the sector is poised to set new online sales records for the end of the year. However, in response to this growing demand and the complex challenges it brings, retailers are implementing numerous strategies to ensure a successful climax to 2023—for both customers and businesses.
Market intelligence is crucial during periods of high demand, argues Marcelo.
“The biggest challenge faced by online marketers in Brazil is intensified competition combined with a lack of market intelligence".
Successful e-commerce managers will ensure they keep a close eye on their competitors, industry trends, and customer behavior while adjusting prices accordingly. They will also work to simplify the purchasing process and optimize other key practices.
“Why not take advantage of this period leading up to the busiest time in the e-commerce calendar by adopting more innovative practices, such as dynamic pricing?” asks Marcelo, pointing out that according to Sellesta’s research, more than one in ten (11%) Brazilian retailers maintain the same pricing structure throughout the year. “This not only prepares online retailers to make the most of the increased digital traffic but also gives them a competitive edge heading into 2024.
2023 will go down in history as the year AI truly took off, but it is also the year AI helped democratize e-commerce tools and strategies that were previously only available to the largest companies. Industry professionals in Brazil now have access to agile campaign development tools that leverage the latest in AI and Machine Learning (ML) technology. These tools combine automation and data analysis to accelerate the planning and execution of online campaigns.
“Brazil ranks fifth among the countries that use ChatGPT the most, so many people are already familiarizing themselves with AI as a tool. We are excited to see how retailers will also leverage this new technology to enhance their market intelligence,” adds Marcelo. He highlights that Sellesta’s Market Insights tool harnesses AI to uncover competitor data, analyze customer feedback, and help merchants identify the fastest-growing categories, trending products, and competitor stock updates on third-party marketplaces such as Amazon and Mercado Livre.
AI and ML can also help sellers implement dynamic pricing models that allow them to navigate demand fluctuations during the end-of-year shopping rush. By using real-time data, retailers can strategically adjust prices, offer promotions, or provide discounts to attract last-minute shoppers. This approach ensures competitiveness and responsiveness to market dynamics.
Marcelo highlights three crucial factors that can boost an online entrepreneur’s success during these peak periods: agile pricing, market intelligence, and a streamlined purchasing process. “While agile pricing and market intelligence become straightforward once implemented, enhancing the shopping experience requires a mix of skills, tools, and a willingness to put oneself in the customer’s shoes,” he adds.
“However, retailers can also take advantage of accessible AI-powered tools to optimize their websites and mobile apps,” Marcelo recommends, along with other best practices such as offering personalized recommendations, fast checkouts, and transparent shipping information to ensure a smooth and hassle-free shopping journey. He adds: “Remember that customers were originally drawn to e-commerce because it was more convenient than physical stores, so keeping convenience at the forefront when reassessing online offerings is key.”
As retailers prepare for the last-minute Christmas shopping rush, the challenges they now face are met with a host of innovative solutions. By leveraging the power of AI—the industry’s biggest game-changer this year—alongside the latest market strategies and practices, merchants can not only overcome the obvious hurdles brought by increased demand but also create a memorable and efficient shopping experience for consumers during the festive season, setting the stage for a dynamic and successful 2024.
About Sellesta
Sellesta offers a comprehensive suite of AI-powered e-commerce tools that help businesses enhance their online sales and customer experience. With Sellesta, companies gain access to valuable marketing insights. As a one-stop-shop concept, Sellesta supports all three major e-commerce environments, including online stores, marketplaces, and digital advertising. Sellesta is an international startup with a globally distributed team, currently operating in markets across the US, Europe, and Latin America.
