Is Mexico's Black Friday Just Another Shopping Day? Anthony Harrup - The Wall Street Journal
go to original December 22, 2014

Mexico’s version of Black Friday, known as El Buen Fin or “the good weekend,” has seen sales grow annually since its inception in 2011, although in its fourth edition this year growth slowed to 13.7% from around 40% in its first two years.

A survey by Deloitte suggests that retailers don’t necessarily make their best offers over the long holiday weekend in mid-November, and that while consumers may bring forward some of their Christmas shopping, a vast majority still have more spending to do in December.

In the survey of 1,317 consumers, carried out Nov. 24-Dec. 2, 74% said they made purchases in the 2014 Buen Fin. Many of those who didn’t said they were disappointed with the offers, particularly those that were just months of interest-free credit.

Around half said they noticed no difference between El Buen Fin and other promotional events such as late-night sales at a number of department stores.

For most of the consumers interviewed by Deloitte, El Buen Fin did little to save on their Christmas bills. More than 80% said they still planned to buy more goods for the year-end holidays. The Mexican custom of giving and opening presents around the tree “not only hasn’t disappeared, but has gained strength over the years,” Deloitte found.

Read the rest at The Wall Street Journal

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