Technology companies are still in the early stages in Brazil, but some already have a prominent position on the national market and also enjoy the credibility shown by the internal public.
One of these is Buscapé, a portal which allows the comparison of prices of products and services – along the same lines as the e-commerce giant Amazon, but more focused on appraisal rather than distribution. Founded over 15 years ago, Buscapé is now considered the largest company in this segment in Latin America, and has established its presence not only in Brazil but also in the United States, in Spain, and another 19 countries in Latin America.
The company was set up by four young friends in 1999, with an initial investment of only BRL 400 (USD 100), enough to pay for hosting the site and also the mobile telephone bill. Ten years later, in 2009, 91% of the equity of Buscapé were acquired by Naspers, a South American media group, for USD 342 million, which is one of the most important transactions in the history of the Internet in Brazil.
Buscapé compares over 11 million products
Through the platform, it is now possible to compare over 11 million products, thanks to partnerships signed between Buscapé and several companies, retailers and shopkeepers. This ensures that the prices and also the pictures of the products are constantly brought up to date. The products are organized into categories so make the search easier, and you can also have access to analyses and point scores left by other consumers and clients.
To give you an idea of the sheer popularity of this service, according to Buscapé, the traffic of orders that passed through the platform, considering only the period between Black Friday and Christmas (15 November to 24 December) came to 17.6 million.
In spite of the crisis, this figure was 16% higher than that of the same period of 2014. The value paid by each client also grew: each user of the platform spent an average of BRL 420.08 (USD 105.02), which is 8.4% higher than in the previous year.
Categories make searches easier
The idea behind Buscapé came out of a need shown by the group of friends, who needed to buy a printer for another project but also wanted to compare the prices of the products available before making a decision. Maybe it was due to the fact that it was born out of a real demand rather than a hypothesis that the platform was so efficiently created.
The categories of Buscapé also show not only the prices of the products (cheaper or lower) but also the reputation of the suppliers and the selling companies, based on information collected from those who have already bought the product. When conducting a search, the site also offers suggestions of key words, to make your results more specific.