High expectations for Chile Cyber Day

Chile expects to see sales of US$120mn during the Cyber Day Chile e-commerce discount event that takes place on May 29-31, according to the Santiago chamber of commerce (CCS).

During the same event last year, some US$111mn in sales were made with 96 companies participating, receiving 37mn visits and recording 600,000 transactions.

This year there are 166 companies registered. Of those, 31 are footwear and apparel stores, followed by home improvement (20) and sporting goods (20), technology (17), travel and tourism (16), department stores (14), and health and beauty (13).

During the more recent Cyber Monday event held in November, sales hit US$120mn and 140 companies took part.

Online sales in Chile reached US$864mn in 1Q17, up 30% year-on-year, and the forecast for 2017 is US$3.7bn, which would be 20% higher than in 2016.

According to PricingCompass, prices of special offers during the two cyber discount events held last year fell 29% compared to 2015 and some discounts reached 80%. During Argentina’s HotSale last week, discounts averaged 28%. HP for example is offering a 40% discount on notebooks, ink cartridges etc.

Participants must meet a code of ethics, including not overinflating prices before applying discounts and having enough stock for immediate dispatch.

IT company Exceda is responsible for maintaining the availability and security of e-commerce websites to avoid the problems experienced in recent years, where websites and payment platforms collapsed under the spike in the volume of orders.

CYBER SECURITY, ANALYTICS

In the buildup to Cyber Day, the inboxes of specialist media become inundated with emails from companies wishing to take advantage of the event.

What is true, however, is that users must raise their security alert antenna to avoid fraud, especially in light of the recent ransomware attack WannaCry.

The top cyber security threat in Latin America continues to be phishing, which is successful due to users still making elementary errors, like clicking on links in emails sent from unknown sources and then providing bank details.

Guillermo Bustamante, director of the digital communication and multimedia department at the Universidad del PacĂ­fico recommended users avoid connecting and purchasing from public PCs and Wi-Fi hotspots, update their anti-virus software and also check the total amount being charged before paying.

Data analytics company SAS underscored that, besides making sales, e-commerce vendors can take advantage of the data generated from purchases to form better ideas of consumer habits.

“Predictive analytics and consumer intelligence tools are key for maintaining business focus, as well as optimizing planning to meet demand and operational challenges,” said Marcelo Sukni, SAS country manager for Chile and Peru.

Rodrigo Sarralde, retail and services sales with Latin American systems integrator Sonda underlined the importance of having virtualized servers and a variety of public and private clouds that provide companies with the scalability to deal with sudden surges in demand.

He also emphasized the importance of omnichannel platforms for retailers, saying that 70% of purchases begin on a website and are then finalized in a physical store.

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