‘Buen Fin’ Could Be Boon for Mexican Economy
By KYLIE MADRY
Mexico’s “Buen Fin” shopping bonanza could be a much-needed boost to the economy – if the country doesn’t slide back into coronavirus lockdown restrictions before then, officials said Wednesday, Nov. 4.
The Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur) announced that this could be the highest-earning Buen Fin yet, hoping to top 2019’s record of 118 billion pesos.
The event, now in its 10th year, was started in 2011 to replicate Black Friday sales in the United States.
According to the president of Concanaco Servytur, José Manuel López Campos, stretching the event out to 12 days this year will have a twofold benefit: It will prevent crowds from gathering to keep covid-19 at bay, and it will allow Mexicans to spend more money.
If lockdowns don’t start before then, that is.
“The goal for this year would be, if conditions remain stable and we do not have outbreaks that prevent us from holding the event in some states, to exceed 118 billion pesos in these 12 days, instead of four,” López Campos said.
Across Mexico, states are considering re-entering “red light” lockdowns, which would shut down businesses and keep Mexicans at home.
Both Chihuahua and Durango re-entered the “red light” phase in the past two weeks, while officials say they’re also keeping an eye on Mexico City, Coahuila and Nuevo León.
More than 100,000 businesses have signed on to join the Buen Fin sales, with one notable mega-corp left off the roster: Walmart.
Instead, Walmart is having its own Buen Fin sales, called “El Fin Irresistible,” from Thursday, Nov. 5 to Monday, Nov. 16.
López Campos accused Walmart of “a lack of solidarity” with Mexican businesses, which are holding Buen Fin sales from Monday, Nov. 9, through Friday, Nov. 20.
The deals extend to other Walmart properties in Mexico such as Sam’s Club, Bodega Aurrera and Superama.
If all goes well, officials estimate that this year’s Buen Fin will rake in 100 million more pesos than in 2019.
…Nov. 5, 2020