Buen Fin 2024, Mexico’s biggest shopping event of the year, is about to kick off and consumers across the country are preparing to snatch up deals on their favorite products.
Short for El Buen Fin de Semana or Good Weekend, Buen Fin is a nationwide shopping festival held every year, akin to Black Friday in the United States.
This year, Buen Fin will take place over the Revolution Day long weekend, running Friday, Nov. 15, through Monday, Nov. 18.
Experts say the best day to shop is Friday morning, as more products will be available. Due to the low demand at that time of day, prices will be lower, they said. If buying online, sales will start at 12 a.m. early Friday morning.
Shopping malls in Mexico often open at 11 a.m., while shops outside a shopping mall may open at 9 or 10 a.m. Customers with a particular destination in mind should check the store’s hours of operations ahead of time.
To help shoppers make informed purchases, the Federal Consumer Protection Agency (Profeco) offers an online guide where shoppers can check prices for 492 products in categories that include kitchen, household appliances, audio and sound equipment, TV and video, and computers. Profeco’s guide displays the average price per product and the pricing history collected since September 2024.
Profeco cautioned consumers to make online purchases only from secure and reputable websites, advising them to avoid buying items through social media platforms. It also advised buyers to verify that offers are legitimate and to be wary of misleading advertisements.
Buen Fin was created in 2011 to boost family economy and commercial activity across the country. It brings together a wide range of businesses that offer discounts and promotions on a variety of products.
Some of the participating stores include Liverpool, Coppel, El Palacio de Hierro, Sanborns, Sears, Soriana, Home Depot and hundreds of other online and brick-and-mortar establishments. Amazon, Mercado Libre and Shein are among the online retailers joining the sale marathon.
According to consulting firm Kantar, Mexicans planning to make online purchases will spend an average of 4,670 pesos (US $227), up 24% compared to last year when the average expenditure was 3,771 pesos (US $183). Meanwhile, physical stores expect an average outlay of 7,304 pesos (US $354), an increase of 27% compared to last year, when consumers spent an average of 5,748 pesos (US $279).
Overall, retailers expect to generate up to 165 billion pesos (US $8.1 billion), during the Buen Fin event, the Confederation of National Chambers of Commerce, Services and Tourism (Conacaco-Servytur) said.
This year, they hope to boost local producers and the “Hecho en México” brand, which labels all products made in Mexico and which President Claudia Sheinbaum is seeking to expand.
With reports from Excélsior, El Universal and Forbes
Source: Mexico News Daily
