We are live with our #BRAVObiz symposium on how COVID-19 is transforming consumer behavior trends!
Join us now as we hear from @cmuruzabal @gfrias and executives from @Grupo_Exito @BelcorpCorp @MastercardLAC and @SAPLatinAmerica. twitter.com/i/broadcasts/1…
Join us now as we hear from @cmuruzabal @gfrias and executives from @Grupo_Exito @BelcorpCorp @MastercardLAC and @SAPLatinAmerica. twitter.com/i/broadcasts/1…
What are some of the biggest changes in consumer behavior?
Personal care and body care are becoming more relevant, says Erika Herrero, CEO of @BelcorpCorp, with sales down just 18% in April and May compared to 70% drops for makeup and fragrances.
#BRAVObiz
Personal care and body care are becoming more relevant, says Erika Herrero, CEO of @BelcorpCorp, with sales down just 18% in April and May compared to 70% drops for makeup and fragrances.
#BRAVObiz
Now, says Herrero, eyes are becoming more relevant since everybody is wearing masks and @BelcorpCorp is starting to see some pickup in products around the eyes.
Fragrances still haven’t picked up, since that’s a very “social” category and we're still distant. #BRAVObiz
Fragrances still haven’t picked up, since that’s a very “social” category and we're still distant. #BRAVObiz
Consumers are very conscious these days, says @Grupo_Exito CEO Carlos Mario Giraldo. They're prioritizing domestically produced goods, even appliances.
“They are privileging the local economy because they’re sure it will have a very important impact in employment.”
#BRAVObiz
“They are privileging the local economy because they’re sure it will have a very important impact in employment.”
#BRAVObiz
If customers used to visit 5 stores before, they're now just visiting 1 or 2 where they feel secure, says Giraldo.
"We’re seeing fewer transactions, but they’re higher ticket. Whoever comes to a store or comes online is serious about making a very effective purchase."
#BRAVObiz
"We’re seeing fewer transactions, but they’re higher ticket. Whoever comes to a store or comes online is serious about making a very effective purchase."
#BRAVObiz
.@MastercardLAC is seeing ecommerce up 35% YOY in Latin America, growth unimaginable just 6 months ago, says Walter Pimenta. The acceleration we’ve seen is something a bit “astonishing” to us. There's definitely a "cash aversion effect," he says.
#BRAVObiz
#BRAVObiz
3 things companies can do now:
1. Be able to serve customers seamlessly across channels, esp digital.
2. Make sure your manufacturing-to-consumer chain can be retrofitted in days if not hours.
3. Don’t forget your employees. They’ll define your success.
— @cmuruzabal #BRAVObiz
1. Be able to serve customers seamlessly across channels, esp digital.
2. Make sure your manufacturing-to-consumer chain can be retrofitted in days if not hours.
3. Don’t forget your employees. They’ll define your success.
— @cmuruzabal #BRAVObiz
Before, spending was split in even thirds between retailers, services, travel and entertainment.
What's impressive, says @MastercardLAC's Pimenta, is that consumer spending is up 35% overall, considering that travel and entertainment today is virtually non-existent.
#BRAVObiz
What's impressive, says @MastercardLAC's Pimenta, is that consumer spending is up 35% overall, considering that travel and entertainment today is virtually non-existent.
#BRAVObiz
And that wraps up today's #BRAVObiz discussion!
Many thanks to our expert panelists, partners, and attendees everywhere.
You can watch the video of the event here: as-coa.org/events/coa-sym… @cmuruzabal @SAPLatinAmerica @gfrias @Grupo_Exito @BelcorpCorp @MastercardLAC
Many thanks to our expert panelists, partners, and attendees everywhere.
You can watch the video of the event here: as-coa.org/events/coa-sym… @cmuruzabal @SAPLatinAmerica @gfrias @Grupo_Exito @BelcorpCorp @MastercardLAC
• • •
Missing some Tweet in this thread? You can try to
force a refresh
