El Buen Fin

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El Buen Fin
Observed byMexico
CelebrationsShopping
Datefrom the third Friday of November until next Monday
2012 dateNovember 16–19
2013 dateNovember 15–18
2014 dateNovember 14–17
Related toBlack Friday, Mexican Revolution and Christmas
 
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El Buen Fin
Observed byMexico
CelebrationsShopping
Datefrom the third Friday of November until next Monday
2012 dateNovember 16–19
2013 dateNovember 15–18
2014 dateNovember 14–17
Related toBlack Friday, Mexican Revolution and Christmas

El Buen Fin ("The Good Weekend") is an annual nationwide shopping event in Mexico, in existence since 2011 and taking place on the third weekend of November in Mexico, and the beginning of the Christmas shopping season. On this weekend, major retailers extend their store hours[1] and offer special promotions, including extended credit terms and price promotions.

The purpose of this weekend is to revive the economy by encouraging consumption[2] and improve the quality of life of all Mexican families by implementing promotions and discounts in the prices of various products. It was inspired by the American celebration, Black Friday and emerged as an initiative of Council of Business Coordination,[3] in association with the federal government and private sector organizations.

History[edit]

Mexican President Felipe Calderón stated his belief that this move will cushion Mexican economy from the threats of European and US economic difficulties.[4] The event is organized by the Bancos de México's Association, Mexican Internet Association, National Association of Supermarkets and Departmental Stores (ANTAD), Council of Business Coordinator, Bosses Confederation of the Mexican Republic(COPARMEX), Confederation of National Chambers of Trade, Services and Tourism (Concanaco Servytur), Confederation of Industrial Chambers of the United States of Mexico (CONCAMIN) and Iniciativa México in coordination with the Mexico's federal government.

Since 2011, retailers have run campaigns marketing El Buen Fin to be the best time of the year to buy goods.[5] Critics say that Mexico’s Black Friday deals are not helpful for Mexican consumers causing them to go into unnecessary debt.

Mexican civil society consumer rights watchdog El Poder del Consumidor said that this economic activity has pushed more Mexicans to credit card debts.[6]

References[edit]

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