Online commerce set to grow 30%

- Thursday, May 26, 2011

Online commerce set to grow 30%

Chile expects e-commerce sales to increase up to 30% this year and has more than 8mn internet users, speakers said at the fourth e-Commerce Day summit.

More than 60 national and international speakers from online banking, entrepreneurs and internet business attended the event, with more than 1,200 participants.

The event seeks to promote e-commerce and internet business in the region by incorporating entrepreneurs and companies to online channels to promote their products and services.

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According to Cristián García-Huidobro, Santiago chamber of commerce CCS' general secretary, e-commerce sales in Chile surpassed US$20bn in 2010.

Marcelo Cabane, industry solutions director from IBM, said the industry has to address the needs of "Smarter Commerce," where marketing campaigns should be coordinated with online promotions and customer information as a way of increasing and holding onto clients.

"If I've been a loyal customer for an airline and their website takes more than 10 minutes to load and then takes me out of the system for security reasons, the company is losing loyalty, because during those 10 minutes I could be checking the competition's web site," Cabane said.

Security was another issue addressed at the event. According to George Lever, market study manager of the CCS, although Chile has one of the lowest online payment fraud rates in the region, more than 90% of consumers are "very worried" about security systems.