Good End “returns to normal” and goes for 195,000 million pesos in sales

Let’s break the pig! The “cheapest time of the year” is coming, as announced by the Mexican commerce sector, which is ready to carry out The Good End 2022 —from November 18 to 21—, an event in which they expect sales of more than 195,000 million pesos.

Mexican Black Friday will be held for 4 days, within the framework of the celebration of the Mexican Revolution, a period in which consumers will be able to enjoy discounts of up to 80% and months without interest, in addition to participating in a tax raffle organized by the government federal.

In the midst of inflationary pressures and expectations of downward economic growth, the president of the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco-Servytur), Héctor Tejada Shaar, said that during El Buen Fin 2022 “we have a strong challenge in sales, of 195,000 million pesos, because there are already 100% capacity in stores and people save their money to make those purchases.”

By allowing a greater capacity in the stores and to avoid greater economic impacts in the stores on advertising costs, this time the discounts and offers event returns to its 4-day modality, which with the exception of 2020 was 12 days and the 2021 with seven days, for the consumer to enjoy the program.

The El Buen Fin program began in 2011, inspired by the original Black Friday held in the United States, to encourage economic activity, which has now become the most important event in sales, said Héctor Tejada.

He commented that the event democratizes the opportunity for micro and small businesses, which do not have the capacity to promote and do not have such strong advertising with their own resources, but with support from the federal government and the rest of the large departmental and self-service companies. You can search for the name of the Good End at no cost.

Vicente Yáñez, president of ANTAD, said that company inventories can be sold at a good price, and strengthens the formal economy, as well as rewards.

With a tax raffle, people who buy a product with a value of 250 pesos up to 15,000 pesos during the 4 days with participating credit or debit cards will be able to win prizes, which will range from 250 to 250,000 pesos, reported the Administration Service. Tax (SAT).

The Secretary of the Economy, Raquel Buenrostro, reported that the draw will take place on December 9 and “that it generously contributes 500 million pesos in prizes, both for those who buy and those who sell, waiting for us to go ahead with the well-being for all families.

Although ANTAD asked the federal authorities to include the participation of departmental card payments in the tax lottery for The good endUntil now, there is no answer, since only bank cards participate.

Vicente Yáñez trusted the positive results during the discount event, although the offer and discount campaigns that stores such as Liverpool, Palacio de Hierro, Sanborns, Sears, Elektra, and others will launch are still unknown.

It should be remembered that the Walmart Group (Sam’s, Aurrerá) does not participate in the El Buen Fin program, but it is expected to rejoin the campaign.

The president of ANTAD affirmed that this program has given good results in the last decade, such as stimulating consumption in the formal sector, benefits for the treasury and for the economy in general.

“The number of participants has been growing and it helps the pocket of consumers. But inflation must be taken care of and be patient, the supply chains are already being straightened out, however the war in Russia is present and the fuel issue is still weighing heavily, because it affects those who have less,” she said.

As is traditional, the Christmas bonus will be advanced by the federal government and some companies that have done so in the past will also do so.

Meanwhile, online purchases will become more important this year, thanks to the drive for digitization among companies in Mexico. In 2021, according to the Mexican Online Sales Association (AMVO), El Buen Fin generated 31.7 billion pesos in online sales, 16.5% of total sales. “We hope that this figure can rise to 20%,” estimated the president of Concanaco.

lilia.gonzalez@eleconomista.mx