You now live in Mexico and are truly enjoying everything about it until friends and family begin mentioning the great deals they intend to hone in on during the next Black Friday. Filled with a little envy, you start to miss things like this from the US and Canada.
If you’re new to Mexico, you may not know that we too, have Black Friday. Not only does Mexico have it’s own Black Friday, it’s also during the same time frame as the US / Canada Black Friday, so there’s no need to remember a new date.
In 2011, the entire country began participating in its own version of Black Friday, which in Mexico is called El Buen Fin. Literal translation, The Good Weekend. It is a huge annual nationwide shopping event that includes most every store imaginable, but in particular, the larger shopping venues are the ones that do the most advertising, offering the best deals, etc.
All across Mexico, El Buen Fin takes place around the third week of November, about the same time as the Mexican Revolution, which is November 20. It is programmed to occur much the same as Black Friday in the US, which is also around the third week of November, around US Thanksgiving and runs throughout Mexico usually for three full days.
In Mexico, a lot of people live on store credit. This is not the same as using a major credit card, this is individual store credit. And with this store credit comes a hefty interest rate, as high as 80 percent in some of the larger department store chains.
During El Buen Fin in Mexico, not only do retailers offer product discounts, they also extend their hours and offer special promotions including extended credit terms. For those already swamped in debt, this is not necessarily a good deal.
The purpose of the weekend is to revive the economy by encouraging consumption and improve the quality of life of Mexican families by implementing promotions and discounts of various products. It was inspired by the American observance, Black Friday, and emerged as an initiative of Council of Business Coordination, in association with the federal government and private sector organizations.
You can keep track of El Buen Fin dates and organizers by checking their website, ElBuenFin.org