A new fever is gripping Latin American consumers, male and female, ages 25 to 45: discounts from group buying websites, in some cases involving prices 80% lower than what is available elsewhere. With companies expanding their online sales rapidly, a wave of promotions for show tickets, dinners, hairdressing, tourism and other services seems to have no limit, at least in the short run. New competitors are expected to vie for customers attracted by the comfort of buying at home or at work.
Volume lets it all happen. Web portals can offer competitive prices once they attract a certain number of buyers. Registered users qualify for discounts using printed coupons good for 3 to 12 months provided that a certain threshold is reached for each offer. The offers last only a day and are allocated city by city.
“This is about growth in the market that is taking place on a global level,” says Sebastián Pereira, country manager of Groupalia, a shopping site that has reached major markets in the region. Its sales have grown 40% a month in Argentina since launching there in October 2010, according to the company. “First, it started in the United States, and then it immediately spread to the rest of the Americas, Europe and Asia.”
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