El Buen Fin: Mexico’s Answer to the Black Friday Frenzy
While the U.S. goes wild for Black Friday, our neighbors to the south dance to a different beat. Meet “El Buen Fin,” Mexico’s exhilarating answer to the shopping extravaganza. But what makes it the crowning jewel of the nation’s yearly calendar?
Let’s explore this major sales event further and uncover the top e-commerce strategies to make the most of the occasion!
What is El Buen Fin?
Picture this: The year is 2011. In tandem with the nation’s e-commerce giants, The Mexican government unveils a groundbreaking initiative: “El Buen Fin.” Its mission? To ignite Mexico’s economy and place online shopping in the spotlight.
From its humble beginnings starting as merely a sales weekend, El Buen Fin has catapulted into a week-long shopping odyssey. Today, it has expanded into a discount-filled jackpot, with the reputation of being the most important shopping event in Mexico—even outshining Black Friday.
Months before the lead-up to the event, businesses from Tijuana to Cancun are abuzz with life as they start crafting strategies for the week. Meanwhile, savvy consumers set out on a quest for deals several weeks before El Buen Fin officially even begins, hoping to get a head start on the best bargains.
When is El Buen Fin Celebrated?
El Buen Fin brings its discounts to life every November, right around the third week of the month and alongside several festive celebrations for the Mexican Revolution’s anniversary. In 2023, El Buen Fin will run from November 17th to 20th.
El Buen Fin vs. Black Friday: What Are the Differences?
El Buen Fin’s longer duration is what sets it apart from Black Friday. While it initially lasted four days, the 2020 edition stretched the event to an impressive 12 days—a move that helped jumpstart Mexico’s struggling economy during the pandemic.
It’s also worth noting that El Buen Fin is seen less as a shopping frenzy and more as a chance for Mexicans to quickly stock up—be it the latest gadgets, home essentials, or those early Christmas presents. Shoppers like to research, compare, and then buy, which means businesses need to provide comprehensive product details and customer reviews to win their attention.
Of course, with the shopping rush comes the need for diversified payment options. Fortunately, many businesses roll out extended payment plans, zero-interest equated monthly installments (EMIs), and more to facilitate instant purchases. For the Mexican shopper, this means more freedom and flexibility.
The Growth of E-commerce During El Buen Fin
From its early days, e-commerce transactions during El Buen Fin have been on an upward trajectory. In 2020, El Buen Fin registered an impressive $14 billion USD in sales, and online transactions saw a notable 225% leap from 2019’s figures.
With the pandemic forever changing shopping norms, 2021 saw over 70% of the Mexican population combining online and offline shopping—with 33% exclusively shopping online. The outcome? A cool $2 billion USD from online sales alone, with shoppers spending an average of $53 USD on every purchase.
But that’s not all: Come 2022, El Buen Fin reported earnings of roughly $1.4 billion USD, reflecting a 31% uptick from the prior year. The average spend also increased by 12%, landing at $59.4 USD.
It’s no surprise that predictions for 2023 are optimistic, with an anticipated 5% growth in overall El Buen Fin sales.
Why International Sellers Should Participate in El Buen Fin
Now for the golden question: Why should a global business jump onto the El Buen Fin bandwagon? Well, aside from the obvious sales spike, Mexican consumers are also enthusiastic cross-border shoppers.
A 2022 study by the Mexican Association of Online Sales (AMVO) highlighted this trend, revealing that 8 in 10 Mexicans had made international purchases. As such, sellers from abroad can capitalize on this by listing their goods on regional platforms—and look forward to a sales spike during events like El Buen Fin.
Doing this couldn’t be simpler, as international retailers can ride the wave by promoting their products on platforms like Walmart Mexico, Coppel, Liverpool, and Mercado Libre. It’s not just about selling; it’s about being part of a grand Mexican fiesta!
nocnoc: Your Golden Ticket to El Buen Fin Success
So, are you ready to conquer Mexican marketplaces this El Buen Fin? nocnoc makes it a breeze: Within 48 hours, sellers can list their products on major platforms like Coppel, Walmart and Amazon Mexico without a hitch. The popularity and trustworthy reputation of nocnoc mega-stores will set the stage for your products to shine bright and help consumers make a quick decision.
After setting up an account, your offerings will be displayed across nocnoc’s vast ecosystem spanning 15+ marketplaces. The nocnoc squad has your back from this moment on, translating and culturally tailoring your listings to resonate with local consumers.
Concerned about the logistics of international shipping, customer support, potential order cancellations, or crafting marketing campaigns that hit the mark? Leave those worries at the doorstep—our experts can help you navigate it all.
All you have to do? Ship orders to our U.S. hub and enjoy your newfound status as a local Mexican sensation.
Get Started With nocnoc
Kickstart your Mexican retail journey with nocnoc by clicking here. Our representatives are ready to ensure your products have everything they need to succeed in Mexico’s e-commerce market.
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