Learn about the history of El Buen Fin, the forecasted sales amounts and the channel where the highest consumption is expected for this 2022 edition.
Inspired by Black Friday in the United States, an event that is held once a year and collects billions of dollars in each edition, El Buen Fin was born in 2011 with the ideal of reactivating the Mexican economy by offering low costs, as well as attractive offers to purchase products, services and, in some cases, complemented with payment facilities, which have added relevant figures, such as the previous edition (2021), which collected 192,000 million pesos, according to the Ministryof Economy (SI).
For this year's fiscal year, which will take place from November 18 to 21, the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco-Servytur), headed by Héctor Tejada Shaar, expects figures in excess of 195,000 million pesos, even with the growing inflation affecting the country's economy.
Mexican Ecommerce
Last year, Ecommerce represented 16.5% in total sales, translated to $31,731 million pesos, increasing the use of this channel by 45% compared to the 2020 edition. For this year, it is expected that online shopping will continue to trend, since according to information from El Financiero, 71% of Mexicans plan to make their purchases from their electronic device even though COVID-19 cases have been on the decline, with fewer security measures, so it would be safer to leave home. It is not ruled out that during this edition, plazas and other physical establishments will be crowded as it usually happens with the fever caused by the Buen Fin, but e-commerce in Mexico is a priority.
On the other hand, the Mexican Association of Online Sales (AMVO) made an interesting study that reflects part of what will be the online activity during this Buen Fin. Below are some of the highlights:
- 5 out of 10 El Buen Fin shoppers start their shopping search up to 1 month in advance.
- The three categories with the highest purchase intent are: Electronics, appliances and apparel with, 59, 40 and 38 percent, respectively.
- Potential buyers expect discounts between 21% and 70%, with interest-free months being the most anticipated benefit.
- Among the main forms of payment are: 81% by credit card, 49% by debit card and 28% by departmental card.
- The type of delivery to home is stable at 90% and there is a notable growth in the number of people interested in delivery to their office/work, at 17%.
- 52% do not trust El Buen Fin promotions, and 34% are deterred from buying by the current economic situation and inflation.
Some companies, in search of improvement and taking into account that there are great competitors, have made great efforts and invested millions of dollars in digital marketing and advertising, as well as in improving their platforms so that the user has a better experience in the purchase process and thus obtain better income, This is why the user has opted to make purchases online, a modality that marked a turning point since the beginning of the pandemic, as it helped consumers to purchase products without the need to leave home, it became a common practice because of its ease and, for that reason, promises to continue to rise over the years.
