El Buen Fin: Three days of discounts and low prices
The Mexican Black Friday
El Buen Fin (The Good Weekend) is an initiative of the Mexican private sector to boost the internal market, just before the Christmas period.
Inspired in the US’ Black Friday, Mexico’s Buen Fin will take place from the 14th to 17th of November. Mexican shops and companies will make special offers and discounts on their products and services to motivate consumers to buy; the majority based on no-interest financing programs.
This annual three-day bargain weekend has left important sales behind. The earnings of El Buen Fin have been rising year by year; the first edition reported 106,000 million pesos on sales (7,818 million dollars approx.) and the last year, the economic benefit was of 173,620 million pesos (12,805 million dollars approx.).
In this 2014 edition, earnings will grow to 220,000 million pesos (16,225 million dollars approx.) on three days sales, 27% more than last year. Some specialists have said that El Buen Fin will have many challenges because of the poor growth in the Mexican economy, however many others think this is a good opportunity to buy essential products.
Statistics show that people take advantage of El Buen Fin to buy clothes, shoes, furniture, electronic items, personal care products, photography accessories, cars, computers and educational and tourism services.
To boost this initiative even more, the Tax Administration Service of Mexico (SAT) will launch a raffle that will benefit 150,000 buyers this weekend. This is a very attractive raffle, which consists on promoting consumers on buying more and more!
If users pay products or services that are 250 pesos (18 dollars) or more with Mexican credit or debit card, the SAT will automatically register the purchase. Winners will receive the total refund of their buy, up to a 10,000 pesos limit (737 dollars approx.).
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