How to maximise digital trade opportunities in Brazil

E-commerce is transforming sales and shopping in Brazil, as it has in many other markets around the world. As the novel coronavirus ravages the world, the Brazilian government distributes pandemic relief to most Brazilians via a digital wallet, bringing online retailers to millions of Brazilians for the first time. This caused changes in consumer preferences, with online consumers increasing by more than 40% in 2020 alone. According to the eEbit Webshoppers 2021 report, e-commerce in Brazil increased by 31% in the first half of 2021. By 2023, Brazil is expected to generate a revenue of US$48,242.1 million, positioning itself as the 12th largest eCommerce market globally and surpassing Russia in terms of revenue. You can also read more about international trade after the COVID-19 pandemic here.

As demand rises, so does supply. Because of the growing popularity of e-commerce in Brazil, many offline businesses have gone online. It is critical to employ effective strategies to assist businesses in maximising digital trade opportunities. Here are some ideas to help your business with e-commerce in Brazil.

1. Concentrate on analysing your target consumers

Many factors may influence consumers’ seemingly straightforward purchasing decisions. You must recognize the factors that influence your target customers’ purchase decisions, as well as their purchase behaviours, to develop strategies and enhance the likelihood of a purchase. For example, segmenting your consumers based on their location, gender, age, lifestyle, purchasing habits, and more will allow you to analyse the demand for your services or products and target each segment with specific promotions and offers. Furthermore, consumers’ purchasing patterns can be discovered by observing the network’s sales platform, website, or payment method. Here are a few points to consider:

Where are your target consumers buying from (online platforms, social media, websites, etc.)?

How do they pay?

When do they choose to buy your product or service?

This will help you position your product to their interests. For example, according to Nielsen research, the primary reasons Brazilian consumers shop online are:

1. Consumers do not want to leave home (73% )
2. Special promotions like free shipping, discounts, samples and a loyalty program (52%)
3. time-saving (47%)
4. delivery times (38%)

Therefore, Brazilian consumers tend to be attracted by promotions and free shipping so you can pay more attention to your pricing strategy and promotions. For instance, offering free shipping benefits or making free shipping terms may help increase your sales and maximise your digital trade opportunities.

2. Implement effective digital marketing

Brazil has the highest number of internet users in Latin America. According to data from January 2022, the network users reached 165 million Brazilians among the 215 million Brazil population, around 76.7% of the population. As a result, if you want to maximise your e-commerce opportunities in Brazil, you must master online marketing. You can reach a large target audience in Brazil with digital marketing assistance. It can help your business integrate marketing with customer feedback or two-way interactions between your company and customers. To obtain information on the preferences of target consumer groups, and so on, to assist your company in developing marketing campaigns.

You can choose from a variety of digital marketing channels, such as social media marketing, email marketing, website marketing, video marketing, and so on. But keep in mind that you must first understand your target audience’s preferences, what types of channels they prefer or are used to, and then determine which channel will best convey the message you want to convey to the target audience. To achieve effective marketing, combine these two points.

Furthermore, you can use a key performance indicator (KPI) strategy and a search engine optimization (SEO) strategy to more effectively analyse and adjust the effectiveness of your digital marketing plan. Consequently, allowing you to seek and maximise your digital trade opportunities in Brazil.

3. Build a strong technical team

In the e-commerce industry, companies may face challenges such as insufficient staff, customer dependence and customer satisfaction. A professional, excellent technical team will be your company’s robust backing. They find the right solutions to technical problems and bring newer, more cutting-edge technology to your company to keep your company up to date on hardware or data processing software and maximise your company’s potential. Corporate systems, for example, can often become overwhelmed by the volume of online transactions they need to process. In this case, the technician responsible for the monitoring will deal with the problem or submit the appropriate solution as soon as possible, such as upgrading the system to ensure the regular operation of the company’s system and software. This also ensures a good user experience for your online customers.

In addition, considering the e-commerce industry relies on computer systems and networks for day-to-day operations, computer security or network management is essential. You need professional technical support services to prevent the company from being attacked by hackers and resulting in the leakage of crucial company documents or customer information. This will help your company avoid violations while maintaining and building your business reputation and credibility. The company’s reliable network security makes consumers more assured and willing to choose your company. Through this, you can attract more leads and maximise your digital trade opportunities.

4. Focus on industry trends and competitors

Keep abreast of the industry information to keep your company learning new business models, tools, and knowledge. This will help cultivate your company’s innovation ability and adaptability to avoid being eliminated by changing times. Keeping track of what’s going on in the industry allows you to anticipate future trends better, so you can plan ahead to respond to changes. This helps you to be competitive and take advantage of fleeting opportunities.

In addition, analyzing your competitors helps you identify opportunities for innovation, develop strategies, improve your product or service, and outperform your competitors. Through competitive analysis, you can discover where your business is doing well compared to competitors, where it needs to improve, and what trends you need to stay ahead of. Moreover, you will find trends in the industry through observation of your competitors’ actions. Consequently, this allows you to develop a better marketing plan to maximise your digital trade opportunities in Brazil.

Identify your competitors and get their trade data by searching TradeData.Pro imports data

You can get information by attending industry events and forums. In addition, you are suggested to use a reliable website, like TradeData.Pro, to get the latest news instantly. TradeData.Pro provides the organized import-export data and information you need to start your business in Brazil, such as importer and exporter company names, HS code, product description, quantity, value, country of origin, transport type, port, and other information. This organized data and information enables you to track your competitors at your fingertips. Continue reading this blog to learn about how to monitor your competitors.

Conclusion

Brazil’s e-commerce market continues to grow, creating numerous opportunities. However, starting an e-commerce business in Brazil comes with challenges, such as ensuring sales and standing out from the competition. Use the effective methods we’ve suggested above to raise product or service awareness in the Brazilian e-commerce industry and attract more leads to your business. If you want to get more tips and trade data for your business, read our latest blog resources or contact us for a subscription plan now!