How much do Latinos use social media to sell?

This article has been translated from our Spanish version using artificial intelligence techniques. Errors may exist due to this process. Opinions expressed by entrepreneur Shareholders are their own.

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Content consumption is constantly evolving and companies must keep up. social Networking is where brands find the user in a more relaxed and receptive way And companies are finding a new channel to sell: social commerce. But what about the user side?

A study conducted in Mexico, Colombia, Argentina and Brazil by Rapyd International Fintech as a Service (FaaS) The Israeli Rhinoceros, Analytics How open are we in Latin America to host this channel.

Below we share the analysis of this study which gives us a regional thermometer for establishing and penetrating social networks as a sales channel, which/from which countries show the most resistance, which are the most used payment methods for the type of products purchased through these means, among others:

Argentina, more careful: 63% of Brazilians surveyed said they had already made purchases via social networks (IG/FB), not far behind Mexicans at 57% and Colombians at 54%. Argentines were the most averse to this new channel, with only 38% of those surveyed answering affirmatively.

Facebook, favorite to buy: Among those who said they had already purchased through social commerce, Facebook was the social network of choice with 88% of positive responses in Mexico, 73% in Argentina, 72% in Colombia, and 66% in Brazil. In Colombia and Mexico, they are followed by WhatsApp with 53% and 39%, respectively, and Instagram for Brazil (59%) and Argentina (43%).

what To buy: The four countries agree that the most popular category of purchase via social networks is clothing and apparel (Brazil 71%, Argentina 62%, Colombia 55%, Mexico 52%). For Colombia (44%), Mexico (37%) and Brazil (45%), cosmetics came in second, while Argentina ranked home décor products with 34% and cosmetics in third (30%). ).

What will not be bought: More important decisions like ‘health services’ are what they seem least willing to get through a channel that appears to be still in the exploration and testing phase in these countries, such as social commerce. This category had 51% negative responses in Mexico, 47% in Argentina, 41% in Colombia, and 40% in Brazil.

payment methods: For purchases via social networks, in both Colombia (61%) and Mexico (54%), the most used payment method is bank transfer, while in Brazil credit card predominates at 67%. In Argentina the platform is shared by bank transfer and cash payment in convenience stores; Both options increased by 41%. In second place, in Brazil (46%), Mexico (51%) and Colombia (41%) is PayPal, while for Argentines (35%) it is a debit card.

Barriers to Social Trade: The biggest concern about buying through this channel for Mexico (67%), Colombia (66%) and Argentina (59%) is that the merchant is fraudulent, while for Brazilians (62%) your data is not secure. For Argentina (58%), Mexico and Colombia (both 53%), data security ranks second.

secure payment: 52% of Mexicans surveyed, 49% of Brazilians, 46% of Colombians, and 45% of Argentines confirmed their interest in payment security. This not only highlights the importance of diversity of payment options, but also the security for successful social trading.

Influencer effect: 83% of Brazilians admitted that their desire to buy would increase if they saw positive comments on their social networks from someone they follow. This trend is accompanied by Mexicans and Colombians by 81% and 78%, respectively. However, only 55% of Argentines agreed with this statement.

One of the biggest concerns for Mexican consumers when talking about social commerce is the security of transactions, whether merchants are not fraudulent and their payments are safe. We at Rapyd understand the importance of providing collection tools that verify merchants and customers and implement fraud prevention strategies, it is imperative that this channel expand and flow more freely in the region. Having a partner who protects you in this regard will undoubtedly generate greater trust between dealers and buyers.

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