El Buen Fin 2024: Everything you must know for this year’s edition

We’re getting closer to one of the most anticipated dates in Mexico’s e-commerce calendar—Buen Fin 2024, running from Friday, November 15 to Monday, November 18. As one of the biggest shopping events in the country, Buen Fin has grown year after year, offering incredible opportunities for both consumers and businesses. With more people shopping online and a rising demand for international products, it’s an unmissable chance for international sellers to expand their reach into the Mexican market.

This event marks a key moment in the shopping season, drawing millions of buyers who are actively seeking deals on everything from electronics to fashion and more. For international brands, Buen Fin represents a gateway to enter Mexico’s thriving e-commerce sector, offering unparalleled potential to boost cross-border sales.

Keep reading to discover how your brand can take advantage of Buen Fin 2024 to expand its presence in Mexico and maximize sales during this key e-commerce event.

The growth of Buen Fin and e-commerce in Mexico

According to the Mexican Association of Online Sales (AMVO) results report, Buen Fin 2022 generated $6.92 billion in total sales. In 2023, online retail sales grew by 23.7% during the event period compared to the previous year, driven especially by the sale of electronics and fashion products.

The growth of e-commerce led to 6 out of 10 internet users making a purchase of a product or service during last year’s Buen Fin event. Omnichannel shopping has also gained significant importance over time. In the most recent edition of Buen Fin, 50% of respondents made purchases by combining both e-commerce platforms and physical stores, 35% shopped exclusively online, while only 14% made their purchases solely in a physical store. This highlights the increasing preference for online shopping during major events like Buen Fin.

Regarding the main reasons for choosing to shop online during Buen Fin 2023 instead of in physical stores, respondents highlighted saving time and avoiding trips to physical locations, along with taking advantage of exclusive discounts and promotions available only through online channels. Shoppers also noted that buying online offers a much wider variety of products, including many that cannot be found locally.

Why international sellers should tap into Buen Fin 2024

International sellers should seize the opportunity presented by Buen Fin to tap into Mexico’s rapidly expanding e-commerce market. According to AMVO, in 2022, 8 out of 10 Mexicans made a cross-border purchase, underscoring a significant demand for international products. The E-PAÍS report on e-commerce in Mexico by ICEX reveals that cross-border e-commerce reached $27 billion in 2022, marking a 25% increase from the previous year.

The majority of Mexican online cross-border shoppers are between 18 and 44 years old, with the 35-44 age group being the largest segment at 25%. The U.S. remains the leading source market, accounting for 59% of these purchases, followed by China at 43%. By participating in Buen Fin, international sellers can offer a diverse range of products and competitive pricing, capturing the attention of a broad audience eager for exclusive international deals and expanding their footprint in Mexico’s dynamic market.

Mexico Marketplaces: A key component in e-commerce expansion

In Mexico’s rapidly growing e-commerce landscape, online marketplaces play a crucial role. These platforms offer businesses a powerful channel to reach wider audiences and enhance consumer shopping experiences. As digital adoption increases, marketplaces are driving Mexico’s digital economy forward, presenting valuable opportunities for international sellers to enter this expanding market.

According to AMVO, the primary platform for cross-border shopping is marketplaces, such as Mercado Libre and Amazon. Currently, Mercado Libre stands as the most visited marketplace in Mexico, with an average of 102 million monthly visits, followed by the giant Amazon Mexico with 94 million visits per month. Behind Amazon, two other marketplaces are gaining significant traction among Mexicans and are growing rapidly in cross-border shopping. These are Walmart and Coppel, with average monthly visits of 55 million and 37 million, respectively.

Top-Selling categories in El Buen Fin Mexico

The top-selling categories during El Buen Fin 2023 through e-commerce were: fashion (39%), electronics (33%), beauty and personal care (26%), home appliances (22%), and toys (22%). It’s worth noting that there is a greater preference for purchasing these categories online rather than in physical stores. Let’s look at the comparison below.

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