Sales, the goal of the "El Buen Fin" 2021 in Mexico

The most popular items to be sold during the "El Buen Fin" 2021 are screens, computers, and cell phones. There will be credit card payment facilities for durable electronic goods. Seven days of offers and promotions have been announced from November 10 to 16.

Sales, the goal of the "El Buen Fin" 2021 in Mexico
"El Buen Fin" targets electronics sales. Photo by Fábio Silva / Unsplash

Top sellers are screens, computers, and cell phones. Credit card payment facilities will be available for durable electronic goods. Businesses that want to increase their sales will have to develop an aggressive delivery policy.

During the "El Buen Fin" 2021, it is necessary to be careful and buy what is needed to avoid starting the following year with economic problems, recommended César Armando Salazar López, from the Institute of Economic Research of the UNAM, who announced that the expected sales goal is 240 billion pesos (about 11,680,324,800.00 United States Dollar), practically the same amount obtained last year. However, "reaching it will be complicated since it would mean having a daily sales amount of 34 billion pesos" and it is unlikely to happen, even though seven days of offers and promotions have been announced from November 10 to 16. "We will have to wait to see if the strategy of giving more days will work."

In these times of economic uncertainty, consumers must be clear that if they are going to buy any product, they would do so because they need it and will have enough money to pay for it if they acquire it on credit. If it is possible to wait, it is necessary to do so, the expert suggested. Likewise, he warned, we must not lose sight of the fact that by paying in months without interest, a significant amount of purchases can accumulate; we must be very careful.

At the remote press conference El Buen Fin, time to "treat ourselves" or save for what is to come, the specialist in economic growth and factorial distribution of income said that last year, with sales of 239 billion pesos, there was a significant increase compared to what happened in 2019, when they stood at 118 billion pesos. This increase was because the number of promotional days was extended from four to 12 days due to the pandemic. Among the items that sell the most are electronics, such as screens, computers, and cell phones, recalled César Salazar.

For consumers concerned about how they spend their money, this promotion can mean a profit. Before 2020, numerous visits to stores and brand websites to check prices were reported. "The more knowledgeable can have the benefit of finding the product they want at a lower price or better credit opportunity." Although there are deceptive strategies, the expert warned, people, can check them online or go to the store to verify if there is a discount. This is appropriate and can be started now; it speaks of an informed consumer. The university professor explained that bringing the Christmas bonus forward is useful for people to take advantage of this commercial strategy, but if they spend more than they have, they could start the following year with economic problems.

The "El Buen Fin" has the purpose of gathering in stores and shopping centers of all kinds, a kind of big days of offers. It is a sales strategy influenced by Black Friday in the United States. "There it is a day, and here it was established as a long weekend, which coincides with Monday, a non-working day, due to the anniversary of the beginning of the Mexican Revolution". It is a commercial opportunity that allows stores, businesses, and producers to make more merchandise available to consumers, who expect a discount on prices. It opens the Christmas and New Year shopping season, "and is a thermometer of confidence and economic activity in the country".

However, he said, the great offers will be registered in items that are no longer in fashion or that have a lag process. "What we are going to find are payment facilities for durable electronic goods, credit card promotions, interest-free months, to make certain goods affordable in particular, such as a cell phone to be paid in 24 months". A significant percentage of people pay by debit card or cash because not all people have access to a credit card. Last year it was estimated that approximately 35 percent of purchases were made in interest-free months.

Purchases can influence commercial economic activity. "If that goes to small businesses, it's going to be very significant for them; it's giving them a chance to survive in the context of this crisis that is not over." Large stores, meanwhile, establish purchasing mechanisms that do not require going to the store, "and in the coming months we will see how much online commerce is here to stay". From my perspective, said the IIEC member, companies that want to have sales growth will necessarily have to have an aggressive delivery policy. We will have to see how small businesses can be inserted into this dynamic of El Buen Fin and the benefits that consumers who do go to the stores will obtain.