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Slow sales forecast for this year’s Buen Fin

November 8, 2013

Thousands of businesses will be offering discounts of 10 to 40 percent throughout the third edition of the Buen Fin, Mexico’s equivalent to Black Friday, which takes place next weekend from November 15 to 18.

The first Buen Fin generated 106 billion pesos across Mexico in 2011, while the second topped it with 150 billion pesos last year. But with the Banco de Mexico having just cut its forecast for growth in 2013 from between two and three percent to between 0.9 and 1.4 percent, experts predict that economic stagnation means that consumers will not spend as much this time around.

At least 2,553 local businesses have registered to take part in the Buen Fin, but the Guadalajara Chapter of the National Chamber of Commerce (Canaco) predicts that sales in Jalisco will only be eight percent higher than on an average weekend, and 18 percent less than in last year’s Buen Fin, when the state reaped 617 million pesos more than on a normal weekend.

The Buen Fin is a federal government initiative to encourage consumption and revive the national economy. Federal employees will receive their end-of-year bonuses early, by November 15, so that they can participate in the Buen Fin, Finance Minister Luis Videgaray Caso announced this week.

The federal government will also be giving out 74,500 prizes worth a total of 250 million pesos in a lottery to be held on December 2. Only those who spend over 250 pesos on credit or debit card over the Buen Fin will be eligible to take part.

To view the discounts on offer visit www.elbuenfin.org and for more information on the lottery see www.sat.gob.mx/sorteodeElBuenFin.

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2 Comments leave one →
  1. November 8, 2013 00:47

    I don’t quite get it here – it doesn’t seem to be a ‘proper’ sale. lots of ‘sin intereses’ but not many actual discounts 😦 I have real money, not a credit card lol!

  2. November 8, 2013 00:49

    Yeah a lot of people here seem to love putting everything on the credit card as long as its 6/12/18 months without interest! I also prefer paying with the hard cash I actually have.

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