In 2021, Mexico was the country with the highest growth in online sales for retail in the world.
The Good End in 2021 generated 31.7 billion pesos in online sales.
In 2021, the promotions campaign generated sales of 192 billion pesos.
Electronic commerce has grown by leaps and bounds in recent years, and more so with the Covid-19 pandemic. Given this, this new type of purchase that can be carried out thanks to technology has led to its incorporation into major sales campaigns such as the Good End, where this year specialists detail that the e-commerce could lose more than a billion pesos due to digital fraud and chargebacks.
Currently, there are data that show how Mexico is becoming an important market for electronic commerce, due to the large size of this population. According to data from the Mexican Association of Online Sales (AMVO)Mexico was the country with the highest growth in online sales for retail in the world during 2021, with 27 percent, the same as India, and above Brazil, with 26.8 percent.
Given this, the AMVO highlighted that the Good End in 2021 generated 31.7 billion pesos in online sales, which is equivalent to 16.5 percent of total marketing.
Good End 2022 and e-commerce
A report by Hola Cash highlights that this Good End season is expected to increase online sales, but that also implies that Mexican electronic businesses could be exposed to losing up to one thousand three hundred million pesos due to digital fraud and chargebacks.
All this, reflecting the income of this sector last year and when this year, the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur México) foresees that electronic commerce contributes 20 percent of total sales, thanks to the progressive digitization of companies in Mexico.
However, specialists highlight in the report that this growth of electronic commerce occurs in a context where the average fraud rate at the national level is 3.5 percent.
“Around 4 out of 10 online payment transactions are attempted fraud, thus hindering the development of e-commerce in Mexico and setting off alarms at times when there is an increase in demand, precisely, as in the Good End” said Leonardo Estrada, Hola Cash’s Chief Executive Officer.
In this context, the study warns that this scenario requires businesses to act to avoid losses, assisted by tools and platforms that neutralize fraud attempts.
Another challenge detailed in the report that could be seen in this Good End in electronic commerce is the acceptance rate and payment methods. “Faced with this challenging scenario, a significant fear of fraud is generated and, as a result, a second challenge for online sales arises: a high rate of rejection of payments by merchants or their payment processors”, stand out.
All of the above, based on e-commerce statistics from Banxico and Condusef, in 2021, which recorded that there were more than 1.3 million purchase requests sent for authorization. Of all these, 36% were not authorized, implying a loss of more than 315 million pesos.
And so, with just a few days to go before this great season of sales in the country, companies, brands, organizations and even the authorities have released relevant information to warn and help consumers to participate in these promotions safely. and calm.
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